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Thanks for making it easy to find the cheapest renters insurance. Knowing our stuff is always protected gives me peace of mind.

Matt and Bethany, Charleston SC

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Contents insurance prices can vary depending on a few factors that can affect your life. Though, most importantly, as a renter it is important to understand that prices can differ greatly for the same contents coverage from one carrier to the next. The key is to shop online where finding quotes is easy, free and takes very little time at all.

In contrast, if you were to try and trudge through the town that you will be living in, it would take maybe hours, if you were lucky. It would, though, more likely than not, cost you hours of your life spent trying to find contents insurance carriers, then waiting for the agents, then waiting a day or two (if not longer) for prices. Instead you can jump online and find the information much more quickly. And, because you have many insurance carriers, you as a customer, will receive the most competitive prices available.

What Is Renters Coverage?

What people are talking about when they say renters insurance is actually contents insurance. It is basically that when you are renting a place, such as a house, you are renting the space. It is not your responsibility to pay for the insurance on the whole dwelling. That is what the landlord has to cover. Though, there is a reason that many, if not most, landlords these days, will require that their tenants carry budget contents coverage. It is to avoid misunderstandings.

The biggest misconception, or misunderstanding, is that when you move into your apartment that you will be covered under your landlord's policy. Actually, it is not that your landlord is not nice, but he or she can not cover your belongings. It is not offered as a part of their policy. It is instead going to be up to you to cover your belongings. It empowers you to choose among the best contents carriers for the best prices.

What Does It Cover?

Contents insurance prices will involve many details as you get closer to the proposed contents policy. There will be deductibles listed among the policy details, and limits (or the maximum that the policy will pay out on each line detail). In addition, it is a good idea to ensure that you at least know what belongings you will have in the place that you are renting. It is good to take some sort of inventory, or to take a thorough video with your video camera (most phones have them these days). Also, make a list of furniture, clothing, valuables, electronics. Everything you keep inside the home. Also, do take the time to record the serial numbers too.

The contents insurance prices that you are quoted should include coverage for theft, personal liability and temporary housing. It is recommended that for your contents insurance prices you are quoted, look for replacement cost coverage, not indemnity coverage. Replacement cost will provide you the money to actually go out and replace your items with like items in today's dollars. In addition, you may also find that if a visitor is harmed while at your rental, they may seek damages from you. The personal liability section of your policy will cover liability and even sometimes legal defense, if necessary in the contents insurance prices.

Add On Coverage

With your contents insurance prices it is also going to be important to think about something called riders, or additional coverage. This is more specialized coverage to meet special needs. For instance, if you just moved out to Los Angeles from Miami, you may not have thought of purchasing earthquake coverage. But, you do need to know that it is important for you to purchase earthquake coverage, whether it is part of the contents insurance prices or if it is purchased separately.

Along the same lines, if there is any particular act of nature that you are prone to, do make sure that you contact your potential insurer to talk about all of the possible scenarios. It is important that you purchase the coverage that you actually need. Contents insurance prices can be very low, and it can be very tempting to limit the expenditure by cutting back on the actual coverage. Instead, think of how uncomfortable life would be if you had to come up with the cash right now to pay for each of your belongings, all over again.

Contents insurance prices involve many aspects of coverage. When you are comparing the prices, it is important to make sure that you are comparing similar policies, to ensure that the prices are accurately reflecting the true nature of coverage and services that you can expect to receive from them. Consider how you might want to be paid from the insurer, if in actual cash value or in replacement value.