By taking the initiative to prevent potential losses and damage you can save money on your renters insurance policy. Installation smoke detectors, a fire extinguisher, dead bolts on your doors and window locks on your windows can lead to savings since your home becomes less of a security risk.

If You Quit Smoking You Could Start Saving on Renters Insurance

One of the leading causes of residential fires is smoking. Smoking damages more than 23,000 homes every year. Some insurance providers offer premium reductions to non-smokers.

Senior Citizens Discounts on Renters Insurance

Research has shown that retirees are less risky to insure. If you are aged 55 and older you can possibly save up to 10% on their renters insurance.

Look for Group Coverage

Find out if you’re a member of any association (alumni or business) that offers affordable group coverage. Your employer may also have some program set up that could provide a great opportunity to save on insurance.

Staying With the Same Insurance Company Can Lead to Lower Renters Insurance Policy Premiums

Many insurance companies offer incentives to stay with them by rewarding loyalty with lower premiums. Take advantage of these offers by staying with an insurance provider for several years. If you have been with your company for three to five years you may be able to save up to 5% growing to 10% after the six-year mark.