How To Buy Renter's Insurance

The first thing you should do when looking into renter's insurance is to make a list of the items in your house that you want covered in your policy. Items like your stereo, T.V. jewelry, art etc. Anything of value to you is what you want to put on your list. Make sure you write down the serial number of any of the items you are going to insure. Some people even take pictures of these items. If you still have the owner's manual with some of them, that will help too. Next, you might want to write down any questions you have for the insurance company. You will want to know what kind of protection you are getting for your money. Is your personal property protected against fire, water damage, wind and even theft. Or if your coverage provides living expenses if you are forced to vacate your properly in the event of a flood or hurricane. Also, you want to get coverage for personal liability in case someone gets hurt while on your property. The owner's insurance will not cover any of this so you need to be sure and ask the insurance provider.
Another type of renter's insurance you want to find out about is "replacement value". This type of insurance will actually reimburse you for the actual value of your property rather than the depreciated value. Once you have made your list of items to be insured, and a list of questions for the insurance company, it's now time to start making your calls.

You can check in your local phone book for a list of companies and you can also ask your friends and family members about the kind of coverage they have. It's kind of like buying car insurance. You want to get the best coverage for the right price. I'd keep a list of the renter's insurance company’s I spoke with if I was you. This will prevent you from accidentally calling the same company twice. So write down the name of the company, the person with whom you spoke with and the information you were given regarding pricing and coverage. After you have all the answers you need, then you can sit down and decide which company has the best price and coverage you need for your renter's insurance.

Buying insurance isn't an easy thing to do. There is a lot of information you have to gather before making such a decision. Be sure and talk it over with your friends or family. Compare quotes and coverage. Don't be embarrassed to ask a question. Even if you think it's a silly question, it never hurts to ask. If you don't ask, that could hurt you in the end.


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