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Caledonia renters insurance safeguards your assets in the aftermath of a disaster. After experiencing a break-in or fire, the last thing renters want to think about is how to replace all of their damaged or lost items. Furniture, clothing, electronics and other belongings are expensive to replace, but Caledonia renters insurance can help lessen that burden.

Caledonia is a village 20 miles south of Milwaukee on the eastern border of Wisconsin. Residents of the eastern portion of Caledonia have beautiful waterfront views of Lake Michigan, and its proximity to Milwaukee without the hassle of city life makes this suburb a pleasant place to live. Young professionals, families starting out and retirees often rent their homes, giving them flexibility to move, lower costs and less responsibility for maintenance and repairs. Renting is an attractive option for many people in the area, but doing it without purchasing Milwaukee renters insurance can prove disastrous.

A common misconception among renters is that their Caledonia landlords or property managers will take care of their loss after an accident or theft. On the contrary, landlords are only responsible for repairing the structural damage to the rental property. Personal property inside a Caledonia apartment or rental home are your responsibility, and having a safeguard in place to cover those things is a necessity.

What Your Policy Covers

WI renters insurance is a form of homeowners insurance known as HO-4. Homeowners insurance policies include six forms of coverage, named A through F. The first two deal with damage to the dwelling, and since Caledonia renters do not have to be concerned about repairing the structure, a Wisconsin HO-4 begins with Coverage C.

Coverage C is personal property coverage. This form of Caledonia renters insurance ensures you are compensated for the loss of or damage to your belongings after a fire, windstorm, collapsed roof and other perils. In homeowners policies, compensation is calculated as a percentage of the home's value. In an HO-4 policy, the value of your belongings is determined with an inventory of all your goods. This way, the Wisconsin renters insurance coverage limit is tailored to your specific needs.

Coverage D pays for alternative living arrangements if the rental property is made unlivable in a storm or fire. If the costs of a temporary hotel room or another apartment unit are more than what you usually pay for rent and utilities, this part of Caledonia renters insurance covers the difference. The renters insurance company will specify the length of time your temporary arrangement is covered, and there may be a cap on the compensation awarded. Check with your Caledonia agent about your coverage options.

Coverage E is your liability protection. If someone is hurt or experiences property damage at your WI rental home, you could be sued for negligence. Liability protection covers your legal fees and any court-awarded damages or settlement owed up to your Caledonia renters insurance coverage limit. Coverage usually starts at $100,000. For people who are injured at your home but choose not to sue, Coverage F offers reasonable medical payments, usually starting at $1,000.

Making an Inventory

When you purchase Caledonia renters insurance, your Wisconsin agent will ask you to provide a comprehensive inventory of your belongings. The inventory helps set your Coverage C limits and your Caledonia renters insurance rates. If you ever need to make a claim, the inventory can verify your loss to ensure you are adequately compensated.

You cannot be too detailed when it comes to making an inventory. The more information you provide, the easier it will be to make a claim in the future. Start by listing every item by category, and include an item description, age and original value. Attach documentation where it is available and record serial numbers of electronics and firearms, which makes it easier for WI police to track down your stolen goods after a break-in. Also list which room each item is in, in case one part of the home is destroyed by a fallen tree, for instance.

Include photographs of all of your belongings or a walk-through video of the apartment. High-quality photos are especially useful when it comes to jewelry if you have not had a professional appraisal. You might be able to get a fairer award for fine jewelry and other belongings with photographic evidence.

You will submit a copy of the inventory to the Caledonia renters insurance company and keep a copy for yourself. Each year, review and revise the inventory and submit any changes to the insurance company. Significant changes could alter your rates and coverage limits, and making these changes makes future claims easier and hassle-free. If you make a large purchase, make sure to update your inventory with the Caledonia renters insurance company immediately to be sure that item is covered.