There’s no such thing as too cheap if you’re a true penny pincher!
At $15-$30 bucks a month home contents insurance is a steal to start with – but you can make it even cheaper!

Here’s how:

1. One Stop Shopping

The key to saving money when you’re buying ANYTHING is to shop around – but that doesn’t mean you have to call a bunch of insurance companies or spend hours online entering your information.
Go to a one-stop-shop quote site like insurancerates.com and let them do all the shopping around for you. They’ll take your information once and send it around to all the big companies you know and trust.

2. Deductible Double Take

The deductible is the amount of money you pay out of pocket before the insurance company starts picking up the tab.

The higher the deductible, the lower your rate.

If you’re more concerned about saving month to month than paying out of pocket in the event of a claim – then be sure to let the agent know that you want to go with a higher deductible.

The standard deductible on a home contents insurance policy is $250 and can go as high as several thousand dollars. Just doubling can save you a chunk on rates… so even if you can’t afford a big out-of-pocket expense, you can still save.

3. Safety Savings

Whether it’s adding a deadbolt to the front door, a smoke detector in every room, or keeping a fire extinguisher in the kitchen – going the extra mile to lower your risk can translate into a nice discount on your home contents insurance policy.

4. Stop Smoking

Where there’s smoke – there’s likely to be fire! There are 23,000 families that learn that lesson the hard way every year, after having their residence burn down due to a lit cigarette.

Declaring yourself, and your apartment a smoke-free zone results in lower rates for many home content insurance policy holders.

5. Grab Your Camera

Taking inventory of what you are insuring is the best way to make sure you save money. Knowing what you’ve got and what it’s worth will keep you safe from overinsuring it (saving you money on rates now) or underinsuring it (saving you money down the line if you file a claim.)

The easiest way to do this is by grabbing a digital camera or camcorder and photographing each room.

This will not only make it easier for you to list each item’s worth, it will also be incredibly handy if you ever have to show evidence of what you’re claiming.

6. Go With Cash Value

Opting for a cash value policy rather than a replacement cost one will run you much cheaper when buying home contents insurance.
But beware – in the event of a claim you will be paid the value of the item on the market the day it was stolen or damaged, not necessarily the amount it’ll take to replace it.

7. Pay Your Bills

Keeping good credit won’t just score you a low APR on your credit cards. Paying your bills on time is viewed as a low-risk indicator for insurance companies, and they will reward you for it with a lower rate.

8. All-in-one

Getting your home contents policy from the same insurance company that keeps your auto insurance could cut the cost.
Be sure to compare quotes from new insurance companies with a quote from your current company that adds home contents coverage to your existing policy.

9. Keep it up to Date

If you sell some of your things or get nicer stuff – be sure to let your insurance company know. Adjusting your coverage according to what you’ve got is can save you a lot of money.

10. Jump on the Bandwagon

Do you bank at a credit union? Maybe you’re a member of an alumni association or some other group that’s struck a deal with a big insurance company. Be sure to ask while you’re getting quotes whether any group discounts are offered – you may qualify and don’t even know it!