When you are renting your home it is prudent to reduce costs where possible to allow you to save towards buying your first property. Achieving lower renter’s insurance rates on your policy will help towards this goal but how do you go about this? Apply these 6 tips and you should get a much better deal!1) Insurance is necessary as we never know when we will fall victim to a fire or flood but don’t treat it as a means to get a whole lot of new stuff. Protect your essential belongings but don’t go overboard.2) Always shop around for the best deal. If you already have auto insurance try your existing provider to see if they offer renters insurance and whether you will qualify for a lower rate as you are an existing customer.3) Make sure your credit report is up to date and accurate before you make your application for any insurance policy. You are entitled to check your report on an annual basis for free but make sure you get copies from all three agencies as they can be slightly different. If there are any mistakes have these corrected as this will help increase your credit rating which should mean you qualify for lower renters insurance rates.4) It helps if you have been in your current job for a while as actuaries don’t like clients who move from one job to the next. They see them as being higher risk.5) If possible pick a good area to live in as areas with high crime rates will have a negative impact on your policy premiums.6) The type of property may have an impact as well. A ground floor apartment in an area prone to flooding is probably going to mean you pay higher renters insurance rates than someone living a couple of floors above you.