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What People Are Saying

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 rental property policies can be overwhelming for the recent renter. If you've never had rental insurance, now is the time to secure a policy. No matter if you own your home or condo or you're leasing a house, apartment or condominium, maintaining insurance is essential. Your home comes under threat every day. From fire to flood and everything in between, you could suffer damage to your personal belongings and loss of your possessions. By choosing from available contents insurance rental property policies, you'll find protection for your financial investment in that property which you hold dear.

Every day you make a concerted effort to enhance your lifestyle by feathering your nest. You may purchase a few throw pillows, or the latest in flat screen TV's. Your home says a lot about who you are and what you've accomplished. You need to make sure those material goals you've worked so hard to achieve are safeguarded against devastating disasters as well as theft.

If you have never obtained any contents insurance for rental property policies before, you might be unsure as to how to go about the task. It's really quite simple. Most of your local insurers who deal in homeowners policies will also deal in contents insurance rental property policies. By requesting quotes from several top local insurers you can find out the type of coverage that's available and how much it will cost in monthly premiums. Contents insurance rental property policies aren't typically expensive, but by checking quotes and comparing rates, you'll be assured of getting the best coverage at the lowest price.

How Renter's Insurance Works

Contents insurance rental property policies work in much the same way as the personal possessions portion of homeowner's policies. The contents of your rental property is inventoried and a value assigned for each item. You can choose to assign actual cash value or replacement value to your possessions. If you are in doubt, or if you have possessions of extreme value, such as musical instruments or expensive jewelry, speak with your contents insurance rental property agent for sound advice. For your high-end possessions you may need separate policies or riders for cheap home content coverage.

Once you've inventoried your material possessions, especially items of high value, you should make a video diary of your contents. Using a video camera, or even a still photo camera, record all of your possessions. If you need to make a claim for something, most contents insurance rental property policies require the claims adjuster to assign value. If that item has been stolen or significantly damaged, you'll be glad you have photographic evidence of the condition of the item to present to the claims adjuster.

The most important thing to remember when securing, at any time, insurance policies for personal possessions in the home you're renting, is not to underinsure by assigning a lesser value to your material possessions. To do that could result in a significant loss for you should your belongings be destroyed. Likewise, you should never over insure as this makes for more expensive policies and you'll only be paying for coverage you don't need.

If someone burglarizes your premises, you would need to realize what is missing and make a claim. If your entire rental unit has been "tossed" in an effort to locate something of value, you may need to refer to your inventory. It's a wise idea to keep a copy of your inventory off premises, as well as in your home. By doing so, you guarantee that you'll be able to access the inventory in case a destructive event occurs, wiping out your possessions.

You only need to choose from contents insurance rental property policies for your home's contents and not the structure. For a property which is rented, your landlord will acquire structure coverage. While contents insurance rental property policies aren't required by law in most states, you may, as a stipulation of your lease agreement, be required to maintain coverage. It's never a bad idea to have renter's coverage, and in fact, it's the responsible thing to do.

Insuring Your Future

When you secure renter's coverage, you secure your future. Without it, you would be left with nothing in the wake of your loss. You would be left without protection.

It's never a wise idea to go through life unprotected. No one has any way of knowing what tomorrow will bring, so why not take steps to safeguard the valuable contents you bring to your rental property. By securing your choice of contents insurance rental property policies, you can rest easy knowing that, in the event you lose everything to destructive forces of nature or man, you will be compensated. You've worked hard to reach your particular rung on life's ladder. Secure your position by choosing to protect what you own.