How much is renters insurance in Vaughan, NC

Why you can trust Insure.com

Quality Verified

At Insure.com, we are committed to providing the timely, accurate and expert information consumers need to make smart insurance decisions. All our content is written and reviewed by industry professionals and insurance experts. Our team carefully vets our rate data to ensure we only provide reliable and up-to-date insurance pricing. We follow the highest editorial standards. Our content is based solely on objective research and data gathering. We maintain strict editorial independence to ensure unbiased coverage of the insurance industry.

Renters insurance in Vaughan, costs $331 per year for $40,000 in personal property, $300,000 in liability and a $1,000 deductible, which is $35 less than the state average of $366 annually.

Your renters insurance premium could be higher or lower depending on the coverage and liability limits you select. Purchasing renters insurance is a good idea, as it helps protect your personal property from damage or loss due to events like fire, smoke, theft and vandalism.

Want to know who has the most affordable rates? Here are the most affordable renters insurance companies in Vaughan.

Key Takeaways

Renters insurance in Vaughan costs an average of $331 per year or $28 monthly.
North Carolina Farm Bureau offers the cheapest renters in Vaughan, with a monthly premium of $13.
Renters can save more on insurance by taking advantage of discounts, including those for having a security system or bundling policies.

What is the average cost of renters insurance per month in Vaughan?

On average, renters in Vaughan pay $28 per month for renters insurance, which is $3 less than the state average of $31. The policy includes $40,000 in personal property, $300,000 in liability protection and a $1,000 deductible.

The cost of renters insurance in Vaughan varies depending on your insurance company and the coverage limit you buy. Renters in Vaughan typically pay $15 monthly for $20,000 in personal property coverage and a $1,000 deductible. If you decide to increase your coverage to $40,000, you’ll see an increase of $13 in your monthly premium.

Choosing higher coverage limits is a good idea if you own valuable items like jewelry, electronics, or furniture.

How much is renters insurance in Vaughan by deductible?

Renters insurance in Vaughan costs an average of $212 per year for a $500 deductible and $20,000 in personal property coverage.

The deductible is the amount you pay before your insurance coverage applies. By increasing your deductible, you can lower your insurance premium. For instance, raising your deductible from $500 to $1,000 will save you $32 annually.

The table below shows renters insurance premiums for varying personal property coverage and deductible amounts.

Deductible	$20,000 personal property	$40,000 personal property	$60,000 personal property
$500	$212	$373	$512
$1,000	$180	$331	$452

Note: The liability protection coverage is $100,000.

Who offers cheap renters insurance in Vaughan?

Your search for the cheapest renters insurance company ends here.

North Carolina Farm Bureau offers the cheapest renters insurance in Vaughan at $157 a year or $13 per month. According to our data, State Farm ranks second on our list followed by Allstate.

Below are the average annual and monthly rates of the cheap renters insurance companies in Vaughan.

Renter insurance provider	Average annual rate	Average per month rate
North Carolina Farm Bureau	$157	$13
State Farm	$248	$21
Allstate	$284	$24
Auto-Owners	$299	$25
Erie Insurance	$348	$29
Nationwide	$453	$38
Metropolitan	$580	$48
USAA	$154	$13

Tips for reducing the cost of renters insurance

Here are some tips to help reduce renters insurance costs in Vaughan:

Bundle insurance policies. If you have other insurance policies, such as car insurance, consider bundling them with the same insurer. Many insurers offer discounts for bundling in Vaughan.

Increase deductible. Opting for a higher deductible can lower your premium in Vaughan, but make sure you’re comfortable with the amount you’d pay out-of-pocket in case of a claim.

Choose the right coverage. Review your policy regularly to ensure you don’t have extra coverage. For example, you might not need as much coverage for personal property if you don’t own many valuables.

Avoid small claims. Filing too many small claims can increase your rates over time. Consider paying for minor damages out-of-pocket instead of claiming them through insurance.

Shop around. Don’t settle for the first quote you receive. Compare renters insurance quotes in Vaughan from multiple providers to find the best price for the coverage you need.

Renters insurance in Vaughan, offers valuable protection for renters at an affordable price. While premiums can vary depending on location, coverage amount and individual circumstances, the peace of mind it provides is worth the investment. By understanding your coverage needs, comparing quotes and taking advantage of discounts, you can find an affordable policy that suits your budget.

Methodology

Insure.com, with the help of Quadrant Information Services, gathered data for renters insurance rates in Vaughan in 2023 for $40,000 personal property coverage, $300,000 liability coverage, and a $1,000 deductible. The data presented are those with a good credit tier alignment.

How much is renters insurance in other cities?

Shivani Gite

Contributing Writer

Shivani Gite is a personal finance and insurance writer with a degree in journalism and mass communication. She is passionate about making insurance topics easy to understand for people and helping them make better financial decisions.