Just because you have bad credit does not mean that you should not be able to protect your belongings inside of your rental home and reduce your liability should an accident occur within your rental property. Here is what you need to do to get renter's insurance if you have bad credit.
To get renter's insurance that you can afford, you are going to need to shop around. Shopping around for insurance is not going to hurt your credit score if you do it during a short time period. Credit companies know that you are most likely going to shop around and will not hit your credit score down because you wanted to be a sharp shopper.
Pay Attention To The Deductible & Coverage
Use an insurance comparison website to get multiple different insurance quotes. When you compare quotes, be sure to look at what the deductible is. You don't what the deductible to be an amount so large that you can't afford to pay it. For example, if you regularly don't have more than $1,000 in your savings, it doesn't make sense to have a deductible that is set at $5,000. You will not be able to afford to pay the deductible and enjoy your insurance benefits.
Second, make sure that the coverage is high enough to cover the cost of replacing all of your belongings. If you are in doubt, do an inventory of your house so you can get an idea of how much your belongings are worth; make sure that your coverage matches or exceeds your personal inventory of your belongings.
Be Prepare To Pay More
In general, renter's insurance is very affordable. It is more akin in price to paying for two different movie streaming services than it is to your car insurance note. Even if you have to pay double the normal amounts, it should still be a reasonable rate that is more than worth the coverage and protection it will provide you with should anything happen to your rental home or should an accident occur.
Work To Improve Your Credit
Finally, take some time to improve your credit score. Pay all of your bills on time and work on lowering your overall credit card and loan debt. Taking steps every month to establish and improve your credit score will help you get more affordable renter's insurance in the future.
Don't skimp out on renter's insurance just because you have a low credit score; someone will want to insure you, but you will just have to pay more for the protection the policy provides you with.