All renters should consider purchasing renters insurance. Yes, the building itself is covered by your landlord. But, your personal belongs are up to you to protect. However, we understand that people are on budgets, so we’ve put together some information to help you save on renters insurance.

First, if you can afford it, try to pay a year's worth of insurance in a lump sum. Insurance providers often give discounts to those who pay in a lump sum. If you can't do that, then pay biannually or quarterly to knock off a few processing fees per year.

Second, know what you have. Take an inventory and see how much it would cost you to replace furniture, clothes and the rest of your belongings. Determining an accurate value of your possessions will help you if you have to file a claim. On the other hand, if you can't afford to insure everything at replacement cost, you can at least get renters insurance for part of the value and save money that way. Just know that if you chose this route, you probably won't have enough insurance money to replace everything if there is a problem.

Third, discuss your insurance options with your independent insurance agent to see what you can do without. If you don't need coverage for displacement (in other words, if you know you could live with family or friends for a while), then ask your agent if there is a discount for not having that coverage.

Fourth, bundle your coverage together. If your car and renters insurance are from the same company, you can save on both policies.

These four ways require some tough decisions on your part. So, while we advocate that you are fully insured, we also understand that you might have a tight budget. For that reason, we work hard to help you save money.

Learn how much you could save today. Call McKee Insurance Agency at 850-224-6055 for more information on Long Island renters insurance.