Renters Insurance | What you need to know
If you rent an apartment or home, although you may not own the building, you should consider renters insurance to protect your personal belongings. (“Contents coverage”)
Renters insurance can protect your personal possessions from fire, theft, vandalism, and other hazards, either at home or on your travels. For Example, while on vacation, your renters insurance may help you replace your belongings if they were stolen.
Renters coverage may also protect you against any claim brought against you which may include the event the someone claims injuries while inside your dwelling or damages of those in your dwelling.
Much like homeowners insurance, renters insurance can pay for living expenses if your rented dwelling is unlivable. You may also purchase additional coverage for more valuable possessions.
Steps to take after purchasing renters insurance:
- Inventory. It is very important to keep track of all of your belongings by creating an inventory list. Include receipts and serial numbers. This will be very useful in the event that your items are stolen.
- Photographs are a great way to help stay organized and demonstrate the general condition of the item.
- When you receive your policy make sure you review it to receive your desired coverage. Also pay attention to your deductible and make sure you are able to cover your deductible amount.
- Within a year, you most likely bought new possessions and got rid of the old. So, make sure you update the list of your belongings
Check with your Landlord and see what may be covered in their policy. It will most likely cover the building itself and not your personal belongings. Have peace of mind with renters insurance either at home or wherever your travels may take you. Get a Free Quote