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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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HOUSE & CONTENTS INSURANCE

House & contents insurance can protect you from serious losses! Renter's insurance is important even if you don't have many valuable items in your home. House & contents insurance also covers you from liability issues, & therefore it provides necessary protection. If someone sues you, you need to have coverage!

Many people don't think about getting insurance until they're required by law, such as when you buy your first house or car. However, you should really consider getting protection as a renter. In some cases, your landlord covers you. Your landlord should cover the home if your ceiling is damaged by a storm, for example. However, they won't cover your ruined computer.

What Renter's Insurance Covers

You need house renters insurance to cover your belongings. Your sofa, bed, electronics, books, & so forth could be damaged. That would be a great loss, if you think about it. It's pretty easy to get protection for the contents in your hours, so why not save yourself the trouble? Also, if you don't have many valuable items, you can get a pretty inexpensive policy.

You can get the items in your home insured for actual cash value (ACV), or you can get a replacement cost policy. Replacement cost is more expensive, as you can imagine. Your laptop is probably worth less than it was when you bought it, & that won't cover the cost of a new one. Of course, you've got to consider the long-term value of your items when you make this decision.

Furthermore, you also need a policy to cover you if someone is injured in your home & tries to sue you. The policy may cover legal fees as well as medical expenses. You landlord probably has property and liability coverage, it doesn't cover you, personally, in the case of a lawsuit. Nor does it cover the contents inside your home.

Many experts suggest purchasing house & contents insurance for the liability component, even if you're not concerned about your belongings. Can you imagine the expense you'd face in the case of a lawsuit? Legal fees are extremely high, as are the potential damages or the settlement fee.

A renter's policy also includes other benefits. For example, if you have to temporarily relocate, you'll be covered by your renter's policy. Of course, not all house & contents insurance policies are created equal. You should do your research before choosing a policy to cover your house.

How Much Does it Cost?

When you're trying to determine the amount of coverage you need for your house & contents insurance, you need to consider certain factors. For example, you need to establish a dollar amount of coverage. This is not based on the value of your house, but rather the contents of each individual item. The more you choose to insure, the higher the cost of your house & contents insurance.

You will also need to consider the deductible. How much can you pay out of your pocket? A higher deductible will mean a lower price for your house & contents insurance. Liability coverages may not be subject to the deductible, depending on your house & contents insurance policy.

IYou also need to consider, as noted above, whether you'd like to insure the place for ACV (actual cash value) or replacement cost. Again, you need to carefully consider the contents of your house when you're figuring this out. How much is it worth? How much would it cost to replace it?

Previous claims and your current location will also play a role in the cost of your policy. If you live in an area where there are a lot of thefts, you can expect it to cost more. Or, if the previous owners had a lot of claims, your cost will go up. Again, renter's insurance is pretty affordable, generally, & it's worth it just for the liability coverage.

Choosing an Insurer

Choosing a company to insure the contents of your home may be easy. For example, you might get a discount if you insure your car & house through the same company. Package discounts can help you save money. You might find that it's best to work with an agent.

An agent can help you with your specific circumstances, and help you find the most affordable policy to protect the contents of your house. Insurance can be a little complicated so it helps to have someone explain it to you. Also, he or she can do the hard work of researching quotes.

If you're considering house & contents insurance as a renter, don't hesitate to look into a few policies. You will probably find that it's affordable and worth it. Choosing a great policy will help you sleep better and night, protecting your valuable belongings and reducing risk.