If you are looking for renters insurance then you deserve congratulations for two reasons. Firstly, because you are smart enough to realise that your landlord home insurance doesn’t cover your personal belongings and secondly because you have come to the right place.
Most people, but not you of course, make a huge mistake when moving to a new place by thinking that they don’t have to worry about insurance. Wrong! Your landlord has a master homeowner insurance which covers the building itself, but it is your responsibility to insure your personal property. Can you imagine losing everything you own in a fire and only then to find out that you aren’t covered?
What does renters insurance cover?
Renters insurance, also sometimes called home content insurance or apartment insurance, is an insurance policy which covers all your belongings inside your place of residence and includes, but it not limited to:
- kitchen appliances
Most policies include liability coverage as well. Having liability coverage is really important and recommended by insurance experts, because it will pay medical and legal bills if someone gets injured on your property. If the pizza delivery boy trips and falls on your doorstep and gets injured inside your house, you wouldn’t want to pay for his medical expenses, would you?
Apart from home content insurance and liability coverage, you may also want to consider additional coverage which covers any living expenses you may have in case the property is damaged in a case of an accident and becomes uninhabitable.
How much does renters insurance cost?
There a e number of factors which determine renters insurance rates. The value of your personal belongings and the area you live in are the most important ones.
It is always a good idea to check what kind of discounts are available to you. If you have interior sprinkler systems, smoke and burglar alarms, or may be staff responsible for the safety of the building you live in, you will undoubtedly pay lower rates.
Renters Insurance Quotes – Compare & Save Money
Renters insurance is a type of coverage that is often overlooked, but it is one of the most important types of coverage you can buy. If you rent a home, you might be surprised at the value of your personal property. Once you decide to buy renters insurance, comparing renters insurance quotes can provide you with a number of benefits.
Why Compare Quotes?
When you get multiple renters insurance quotes, it is important to compare them to make sure that you are looking at the same type of coverage. You must compare apples to apples to ensure that you are getting the best deal. By comparing quotes, you can save a great deal of time. Comparing quotes can also help you save money because you know that you’re getting the best deal that is available to you in the market place.
Information Needed To Get Quotes
When you want to compare renters insurance quotes, you will need some specific information to get started. You will need to know your insurance needs to begin. This includes information such as how much liability coverage you want, what your deductible should be and how much your contents are worth. When buying home contents insurance, you need to have a good idea of how much your personal property is worth. Some people make a mistake and underestimate the value of their personal property and it ends up costing them in the end. Don’t try to underestimate just so that you can get a slightly lower quote on an insurance policy.
The deductible that you choose will also have an impact on how much you have to pay for insurance premiums. If you have a higher deductible, your premiums will be a little lower. Typically, choosing a higher liability insurance limit is also a good idea. This way, you can be sure that you don’t have to come up with any money out of pocket if someone is injured while in your home.
Renters insurance companies will also need to know information about your insurance history. For example, they will need to know if you are currently insured and whether you have filed any claims within the last five years. If you have filed many claims, this could raise your rates and make it more difficult to qualify for a policy.
In addition to information about the policy and your past insurance history, the insurance company will also need to know information about your dwelling. You will have to provide information such as the dwelling type, the square footage and the address. For example, the insurance company will want to know if you are renting an apartment or a detached home. The insurance company may also want to know when the house was built and an approximate value.
Once you provide all of this information, you can get a realistic quote for your liability coverage and home contents insurance. At that point, you can make an educated decision about which insurance policy provides you with the best coverage.
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