Renters insurance is a good idea if you rent where you live.It protects you in the event of a fire.Renters insurance policies have different levels of coverage.Take some time to look at a variety of plans.Before selecting a plan, compare and contrast policy options.
Step 1: List your items.
The cost of lost, stolen, or damaged items housed in an apartment or home is covered by renters insurance.You should make a list of the things you own in order to evaluate what kind of policy you should buy.In the event of a total loss, you'll know how much insurance you need to replace your assets if you add up your total property costs.The process can be aided by breaking down your items into categories.Start with soft goods.Any shirts, underwear, socks, and so on.Also look at bedding items, like comforter and pillows, as well as rugs and carpets.List your electronics.This includes things like stereos, computers, video games, iPad, cell phones, and so on.You can list your furniture and kitchen items.Furniture includes chairs, tables, and so on.Track your kitchen appliances and supplies.There are any other items listed.Bicycles, athletic equipment, books, jewelry, and so on can be included.When possible, write down serial numbers.
Step 2: Take pictures and video of your items.
It will be much easier to file a claim if you have photo or video records of your items.Taking care to take clear photos of your more valuable items is important.Your list of items should include these photos or videos.
Step 3: Determine the values of these items.
Add your items' value together once you have a list.If you want to know how much each item costs, write it down.You may know the exact cost for some items.You might have remembered the cost of a television set.Other items may be difficult to figure out.A pair of jeans is likely to cost around 20 dollars.Take the total cost of your possessions.This can help you pick the right level of coverage.
Step 4: Store your item records away from the site.
When you've compiled your list of items, along with photos or videos and prices, you should find a safe place to store them.You should keep this list outside of your home.You can keep a copy at a friend's house.You can use a cloud-based service or email to keep your list online.If you are unable to retrieve it from your home due to fire or flood, this protects you.
Step 5: Special considerations need to be taken into account.
When comparing renters insurance plans, some renters may have special considerations.If you have a dog, you may want to look into a specific kind of policy.If that is the case, you could be held responsible for injuries caused by your dog.You might have to pay medical bills if your dog bites someone.Pet liability can be included in a renters insurance plan if it is available in your area.This type of insurance may be included, but it depends on the insurer, your state's laws, and the type or breed of pet you have.You can buy separate pet liability insurance or a personal umbrella liability policy if this is not included in your renters insurance.You live in an area that is prone to flooding or earthquakes.Make sure your renters insurance policy covers disasters like this.In the event of a flood, you may have to look into a separate policy.
Step 6: You can use an online calculator.
There are many online calculators you can use if you don't know how much you need.Calculators that allow you to enter rent, estimated cost of possessions, and crime rate are usually used.They will give you an estimate of how big of a policy you should use.When making decisions about renters insurance, this can be helpful.These tools only offer an estimate.They may suggest a policy that is too small for you.You should discuss your situation with an insurance agent and possibly an attorney.
Step 7: Decide on the type of coverage you have.
There are two basic types of renters insurance.Both have drawbacks and benefits.Before you make a decision on a policy, you shouldFamiliarize yourself with the two types of insurance.It costs you the actual cost to replace a stolen or damaged item.A cost coverage plan will pay for a computer of the same price if it is stolen from your apartment.The value of the computer at the time it was stolen will be estimated by an ACV plan.As items, electronics lose value over time, the amount you'll get in an ACV plan will not fully cover the cost of a replacement computer.There are some drawbacks to a cost coverage plan.Monthly premiums tend to be expensive in cost coverage plans.In the event of a major emergency, assess your risk.If you live in a safe area that is not prone to natural disasters, you may be better off saving your money and going for an ACV plan.
Step 8: You can find agents in your area.
You should meet some agents in your area once you have a sense of what you want from a renters insurance plan.Before you come up with a plan, you want to talk to a lot of agents.There are many renters insurance companies in your area.AllState has locations all across the country.Do not limit your search to large companies.Excellent insurance plans can be provided by local businesses.You can browse the policies.A variety of coverage plans are offered by each company.It's easy to veto a company if they don't offer the kind of coverage you need.If you need a renters insurance plan, look for companies that offer it.Remember any special policies, like flood insurance, that you may need, if you go back to the figures you used online.
Step 9: You can get quotes from different companies.
Once you've found a few companies that may work for you, you should get quotes on how much a plan would cost.You can get quotes online.Many agents will give you a free quote if you can't figure it out online.It's important to know how much you'll be paying.It is easy to remove a few potential insurance companies from your list if certain policies are out of your price range.
Step 10: You can schedule a meeting with a few agents.
Once you've decided which companies are within your price range, schedule a few meetings with a variety of agents.If you are considering buying a policy from their company, many agents will meet with you for free.If possible, have a sit-down talk with an agent.Before you make a decision on a plan, you want to make sure you understand your coverage.Before going into a meeting, you may want to read some online reviews.Sometimes agents give false or misleading information.Customers can post warnings on the internet.Insurance agents are paid commission.They are selling you a policy.It is a good idea to double check everything they say after the fact.You want to make sure the policy works for you and your needs.
Step 11: Ask the right questions.
When you meet with an agent, there are some questions you should ask.Make sure you know everything you need to know about your policy before making a decision.It's important to know how much of your stuff is covered.The bulk of your items are covered by most plans.Business-related equipment may need additional policies.You should make sure that the accidents are covered.Does the plan cover the damage?Is that smoke?Is there explosions?Is there water damage from burst pipes?If someone is hurt at your apartment, make sure you know what to do.Policies can cover the cost of injury.If you sublet or lease out your apartment, the majority of policies won't cover injury.If you rent your home out using a vacation rentals website, you may need to purchase additional coverage.If you have roommates, you should check to see if their items are covered under your plan.If items get lost or damaged outside of your apartment, you should check to see if they are covered.Certain expensive items damaged outside your home are covered by renters insurance.If you have very expensive electronics you must bring to and from work each day, it may be worth investing in these plans.Notes should be taken when meeting with agents.You should consult these notes when you are ready to make a plan.
Step 12: You can compare and contrast plans.
You need to review your notes after you've met with a variety of agents.The company website should be consulted again.To find a policy that works for you, compare and contrast the policies.Start by comparing the coverage.If you need special coverage for something like flooding, keep that in mind.It is important to keep in mind how claims will be paid.How much an item's value has gone down over time is taken into account.Cost coverage plans are more expensive.Keep your needs in mind.How likely is it that an item will be lost, stolen or damaged on your property?If you live in an area that has a high crime rate or is prone to natural disasters, you may want to consider paying more for a cost coverage plan.Extra costs may not be worth it if your area is relatively safe.The premium needs to be kept in mind.It's important to consider how much you're getting out of the plan.If coverage is minimal, you may want to pay a higher premium in order to be protected in the event of an accident or theft.
Step 13: Before selecting a policy, research the company online.
Before selecting a company, do some research.Many people overlook this important step.It's important that you choose a company with a good reputation.If you want to avoid companies with a bad track record, you should.Customers can give reviews on websites.You can find websites for reviewing insurance policies.Many customers leave reviews when they are angry or upset, so keep that in mind while browsing reviews.A small number of people had a bad experience because of one or two bad reviews.A low overall rating and many bad reviews may be a bad sign.
Step 14: Consider talking to a lawyer.
If you don't know which policy is right for you, consider hiring a lawyer.If you're confused about anything, a second pair of eyes can help.Most lawyers charge if you ask them to review legal documents.Keep in mind the cost.
Step 15: You have to sign up for your plan.
Pick a plan that works for you and your needs after you've reviewed all potential policies.The agent will walk you through the steps to sign up for the plan if you contact him or her.Along the way, there may be costs.The first and second month's premium may be required for some plans.When getting a plan, make sure to pay more.