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MONROVIA RENTERS INSURANCE

Monrovia renters insurance gives renters peace of mind that their financial futures are protected following a disaster or break-in. People living in apartments and townhouses are often victims of burglary, and natural disasters can occur anywhere, whether you own your home or not. If your belongings are damaged, destroyed or stolen, you could facing thousands of dollars for replacements without the proper California rental insurance coverage. Monrovia renters insurance covers the value of your personal property to compensate you after a disaster.

People who rent their homes may mistakenly think that the property owner will help them out after a loss. Unfortunately, the owner is only responsible for structural damage, not the contents of your unit. If your rental contract does not require you to carry insurance, do not assume that you are protected. Every renter should protect herself, and policies are very affordable. Rates and coverage limits are based on the value of your belongings, so whether you own a little or a lot, you can benefit from a policy tailor-made for you.

Monrovia is a city in the San Gabriel Valley of Southern California. Located 20 miles northeast of Los Angeles, CA, Monrovia is a popular site for movie and television filmings. It is home to many suburbanites commuting into Los Angeles for work, and half of the housing units here are rentals.

Making an Inventory

When shopping for Monrovia renters insurance, consumers should compare rate quotes from at least four providers. To get an accurate rental insurance quote, you will need to provide the estimated value of your belongings. Your coverage limits are devised to cover the value of what you own, and rates correspond to the amount of coverage you need. An estimate is sufficient for getting rate quotes, but you will need to submit a proper inventory when you are ready to buy a Monrovia renters insurance policy.

Your inventory enumerates what you own and how much it is worth. After a disaster or theft, the Monrovia insurance provider will refer to this to calculate how much you will be compensated. Your policy dictates whether you will receive actual cash value compensation or replacement cost compensation.

Replacement cost is the amount the CA renters insurance company will pay to replace your lost or damaged items with a like-quality item. If your flat screen TV is stolen, a replacement cost policy will pay for a new flat screen TV of the same or a similar model. Actual cash value is the replacement cost less depreciation. If you paid $800 for a flat screen TV five years ago, you may only get actual cash value compensation of $300, since the TV is worth far less now than it was when you bought it.

To make an inventory, list all of your belongings room-by-room including furniture, electronics, appliances, jewelry, clothing and collections like CDs and DVDs. Include an item description, purchase price and date purchased. Attach any documentation like receipts and certificates, and write down serial numbers of electronics in case they are stolen. Finally, take pictures of the items or make a walk-through video of the apartment or house. Submit a copy of the inventory to the Monrovia renters insurance company, and keep one for your records.

It is important to keep your inventory up-to-date. Review the list each year, and inform the Monrovia insurance provider immediately of substantial changes like the addition of an expensive new entertainment system. Failing to inform the Monrovia renters insurance company of changes could affect how much compensation you receive after a disaster.

Rates and Discounts

California renters insurance is very affordable for most, and the coverage is extensive. Renters policies cover all the perils covered by California homeowners insurance policies, and a renters policy has four main components. In addition to compensating you for loss of your personal property, Monrovia renters insurance also pays for alternative living expenses if your rental unit is rendered unlivable by a covered peril, pays reasonable medical expenses for people injured on the property and covers liability if you are sued for bodily injury or property damage on your rental property.

Standard Monrovia renters insurance limits cover the value of your belongings, plus $100,000 for liability and $10,000 for medical payments. These limits can always be raised for added protection, and an umbrella policy that adds value to your car and renters policies is a prudent addition for many Monrovia residents. Your limits determine your rates, and most people pay around $20 each month for coverage.

Monrovia renters insurance offers plenty of opportunities for discounts. Buying your CA car policy from the same provider gives you lower rates. You can also raise your deductible, the amount you pay out-of-pocket before coverage kicks in. Students, seniors, members of professional groups and a variety of others can receive discounts as well, so ask your Monrovia agent about how you can save.