inluminent

Wow, I didn’t realize how much cash we’d be able to save with a Renter’s insurance policy over a Home Owner’s policy.

The wife and I’ve been paying for a Home Owner’s Insurance policy into an Escrow account for the past 2 years. Now that we sold our house yesterday (whoopee!) I called our insurance company to change the policy over to a Renter’s policy. Our premium went from $3,000 $1200 a year down to $300 a year, I suppose primarily because we’re no longer insuring the property and our belongings, rather now we’re just insuring our belongings.

Also, because we were paying into an escrow account, we’re getting almost $900 cash back (after we pay for the first year of renter’s insurance). Nice.

(Note: Edited amount of home owners policy because I was an idiot and doubled it unneccesarily)