Renters insurance in Albuquerque, New Mexico
It's key to carry an active renters insurance policy if you're renting a house or an apartment. It covers your rental unit — and the personal property within it — in a variety of circumstances, including wind, theft, fire, or vandalism. Given the likelihood of one of these incidents, the affordable price of a renters policy, and the potentially high cost of replacing your belongings, a renters insurance policy is a solid investment.
The cost of renters insurance relies on a number of factors, including your building's age, the materials from which it’s made, its location, and the pricing guidelines of your renters insurance company. In areas prone to events such as fire, lightning, wind, or hail, renters insurance policies may be more expensive to account for the extra risk.
The average annual cost of renters insurance in Albuquerque is $209.
Getting affordable renters insurance in Albuquerque should start with a thorough review of the top renters insurance companies. Review our list of Albuquerque, New Mexico renters insurance rates to ensure you start your search with as much background info as possible. Remember: renters insurance costs may vary based on your coverage limits and other factors.
Popular renters insurance companies in Albuquerque
Renters insurance premiums in Albuquerque depend on the insurance company providing the quote. For instance, Safeco offers the cheapest renters insurance in Albuquerque, at just $131 per year. This compares favorably to the city's average cost of $209, providing a $78 price break on typical rates in the city.
Start your search for a renters insurance policy by reviewing the cheapest companies in Albuquerque.
AFFORDABLE RENTERS INSURANCE COMPANIES IN ALBUQUERQUE
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Albuquerque renters insurance pricing by coverage tier
The cost of your renters insurance depends on the amount of coverage you carry. Two of the most common levels of renters insurance coverage are $25,000 and $50,000. In Albuquerque, the annual cost differential between these options is about $64. If you can afford the up-front expense, purchasing more coverage might not be a bad idea.
Coverage Level Average Annual Rate in Albuquerque $25K Property $177 $50K Property $241
Tip: bundle your auto and renters insurance policies in Albuquerque
If you’re seeking ways to save on your insurance expenditures, consider carrying your renters and auto policies with the same insurance company. Bundling renters and auto insurance in Albuquerque can lead to substantial savings. In fact, bundling policies in Albuquerque leads to average auto insurance savings of $70. The car insurance company with the cheapest bundled rate is GEICO, followed by USAA and State Farm.
CAR AND RENTERS BUNDLING DISCOUNTS IN ALBUQUERQUE
|Annual Bundle Savings||Bundle Savings %|