Who needs renters insurance? Although many people rent, not all renters invest in this protection. Still, it’s as essential as auto insurance coverage when it comes to your financial security and liability. Find out what to look for when buying a renters insurance policy so you don’t become over or underinsured.
What Is Renters Insurance?
Though not every landlord requires it, you may need renters insurance to sign some leases. Since you aren’t covered under your property owner’s insurance, you should attain your own.
Know What’s Covered
Basic renters insurance typically covers theft or damage to personal property up to the amount you decide to insure. It also covers personal injury to any individual hurt in your apartment. It may also pay for hotel stays if you must leave your residence for a short period.
Know How Much Coverage You Need
All policies are different. The amount of coverage you need may change based on what you own. For instance, if you keep high-end clothing, expensive electronics, or collectibles, you should get enough insurance to cover damage to those items. You may need additional riders for specialty items as well as coverage that accounts for specific weather risks in your area (i.e., floods, hurricanes, earthquakes).
Work With a Good Provider
With so many insurance providers, it’s difficult to choose the right one. Find one that will help you save money by bundling your insurance. Keep your deductible low when you find a provider that offers discounts for people who don’t file many claims. A renters insurance agency can set you up with a company that offers the plan that’s right for you.
Knowing what to look for when buying a renters insurance policy is different for everyone. You should determine your specific needs before talking to a company about its policies. Find coverage that works for you and save money when you bundle and protect your home. Contact the agents at Saferoad Insurance today to start talking about how much insurance you need.