Renter Auto Insurance Discount: How to Lower Your Rates
Currently, three major providers offer an affordable renter auto insurance discount to drivers. To qualify, you must purchase both auto and renters insurance through the same eligible renter auto insurance discount company. Expect your renter auto insurance discount rates to be 16% cheaper with this savings opportunity.
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UPDATED: Jul 19, 2021
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- Three major providers offer a renter auto insurance discount to drivers
- To qualify, purchase both renters and auto insurance through the same participating insurer
- Expect to save an average of 16% on your annual premiums with this discount
If you live in a rental property, three national providers offer a renter auto insurance discount to drivers.
Below, discover how to qualify for renters discount auto insurance and find out how much you might save on your full coverage or basic insurance policy.
After comparing renter auto insurance discount rates, remember to also compare quotes from the top companies in your area by entering your ZIP code into our free tool above.
What providers offer a renter auto insurance discount?
If you’re looking for a renter auto insurance discount company, there are three major providers to compare:
- Amica – 2%
- Esurance – 30%
If you buy renter discount auto insurance, expect to save an average of 16% on your annual premiums.
However, your age, driving record, and coverage needs also impact what you pay for auto insurance.
Therefore, to earn your lowest possible rates, compare quotes online from multiple providers and ask about other auto insurance policy discounts.
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What is a renter auto insurance discount?
A renter discount rewards customer loyalty with a subtle rate reduction because you’re purchasing two lines of insurance through the same provider.
Therefore, this is one of the best auto insurance discounts to ask for if you require renters and auto insurance.
According to the Pew Research Center, more people are renting homes or apartments right now than in the past 50 years.
To qualify, you must purchase both lines of insurance through the same participating provider.
Some companies refer to this deal as bundling or a multi-policy discount and include other lines of insurance, like pet, RV, or home coverage.
So to earn the GEICO auto and renters insurance discount, you’d have to ask for a multi-policy discount instead of a renters discount. To learn more about the company, check out our GEICO car insurance review.
Renter Auto Insurance Discount: The Bottom Line
While the specific renter auto insurance discount is rare, bundling and multi-policy discounts are incredibly common.
If you rent your home, it’s worth comparing quotes from multiple providers online and asking about both styles of discounts to see how much you can truly save.
Now that you’ve learned about the affordable renter auto insurance discount, find the best provider for you by entering your ZIP code into our free rate tool below.