For tenants, renters insurance is an investment that protects their personal belongings and provides liability coverage. It provides peace of mind when the unexpected happens to their possessions or housing situation. Once the decision is made to purchase renters insurance, tenants need to figure out how to pay for renters insurance. It’s actually quite simple and fast.
The most common method of payment is by credit card. Ultimately, how to pay for renters insurance depends on how the insurance policy is purchased. For example, if a tenant purchases it online, there is a high likelihood payment will be online as well. Types of online payments can include credit cards, debit cards, or ACH debits to a checking or saving account. For example, if a tenant learned about renters insurance through their landlord’s use of RentersInsuranceWizard, then the insurance policy purchased would accept payment by credit card. On the other hand, if a tenant purchases a policy in person with an insurance agent, then the tenant may be able to pay in person by cash or check. Tenants should check with the seller of their renters insurance policy on how they can pay.