Renters insurance includes three important types of financial protection:
§ Coverage for Personal Possessions
§ Liability Protection
§ Additional Living Expenses
Consider the following to help you choose the right coverage when you are shopping around for renters insurance.
Feel free to contact our office for a no-obligation review of all your insurance needs.
A. Coverage for Personal Possessions
1. How much insurance should I buy?
Make sure you have enough insurance to replace all of your personal possessions in the event of a burglary, fire or other covered disaster. The easiest way to determine the value of all your personal possessions—including furniture, clothing, electronics, appliances, kitchen utensils and even linens—is to create a home inventory. This is a detailed list of all of your personal possessions along with their estimated value. An up-to-date home inventory will also make filing an insurance claim faster and easier.
The Insurance Information Institute offers free Web-based home inventory software, available at www.knowyourstuff.org.