First and foremost, if you are a renter, you should have renters insurance. Your personal belongings could be covered for under $10 per month! Renters insurance is coverage for your personal property and liability. Your personal property can easily value over $15,000. Common claims happen from fire, theft and water damage.
Frequently Asked Questions about Renters Insurance
- Do I need to inventory my belongings? Not necessarily but it will help you identify your items if there is a fire or theft. Many insurance companies have an app or method to assist you with inventorying your items. You can also simply make a video of each room
- What is liability coverage? Liability can cover you for negligent events. For example, if you leave a coffee pot on and it creates a fire or if a guest trips over your rug and gets hurt. Most apartment complexes require you to have liability damage in case you accidentally damage the apartment.
Make sure you’re properly covered by letting your insurance agent know if you have expensive jewelry, collectibles, firearms, bicycles, computers, etc. Ask questions upfront rather than after a claim.