I am moving to as new 1br apartment and the building says I need renters insurance in the amount of 0,000. I have never bought renters insurance before so I need help. I would like the cheapest rate possible. I do not have car insurance so matching it with other insurance is not an option to get a lower rate. I am in Bethesda Maryland if it makes a difference.
Call a few local agents. What your complex wants is $100,000 in liability coverage which is pretty standard. What impacts the premium the most is the personal property coverage amount(your stuff) and the deductible. If you want a really really cheap policy, ask for the minimum amount of personal property, which is usually $5,000-$10,000, and the highest deductible possible. In my area, Denver, that policy is about $85 a year.