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Apartment blockIf you chat with your friends and neighbors, you may find out that they're paying more or less for renters insurance than you are. What is it that makes a person's rates go up or down? Below, we discuss a few of the most common factor that can influence your renters insurance rates.

Location


Insurance providers will look at the location of your rental unit when calculating your rates. For instance, someone who lives in a high-crime neighborhood will pay more for coverage than someone who lives in a safer area near a fire station. And of course, living in a safer area will not only equate to lower insurance rates, but also peace of mind.

Security


Apart from the safety of your general location, insurers will also look at how secure your unit is. Apartment complexes with gated entries, fire sprinklers, deadbolt locks and other security measures will garner lower insurance rates than those without these security devices.

Contents


The value of the things you own, and therefore what you need to insure, directly impacts how much you'll pay for coverage. For instance, if you have mostly secondhand furniture and clothing, you'll need less coverage because the replacement value is lower; whereas if you have mostly new items, you'll need more coverage because your stuff is worth more.

History


Insurers will look at your claims history when calculating your rates. The more claims you've made over the past few years, the higher your premium will be. When your likelihood of filing a claim is heightened, insurers charge a higher premium to cover their extra risk.

Get a free quote today. Call Peachstate Insurance at (770) 938-4311 for more information on Atlanta renters insurance.
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