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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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If you rent an apartment, you need to compare quotes for renters insurance coverage. Many apartment owners mistakenly believe that they do not need to worry about insurance. They think that because they rent, their landlord will be responsible for any accidents or damaged property. Although your landlord is responsible for maintaining your residence, as a renter you are still responsible for your personal property. If you do not have renters insurance coverage and your belongings are damaged in a fire or other accident, you will need to pay to replace your belongings out of your pocket. Renters insurance is important and can help keep you financially solvent. Make sure that you are protected by purchasing an adequate renters insurance policy.

If all your belongings were destroyed, it is unlikely that you would be able to afford to replace them all. You would have to live without crucial items as you worked to rebuild your life. If you have rental insurance, you would be able to receive a check for the value of your destroyed or damaged items. You can go out and get the items you need for daily life almost immediately. If you have valuable personal items, such as jewelry or electronics, it is important that you document these items for insurance purposes. Borrow a video camera if you do not have one and make a recording of your personal items. This will prove that you should be reimbursed for these items if you ever need to make an insurance claim. Store a copy of the video, as well as any receipts that you have for high end items. It is a good idea to store this information in a small water-proof and fire-proof safe.

Renters insurance coverage offers you crucial personal protection. Renters insurance does so much more than protect your belongings. It protects you financially as well. If you accidentally damage your apartment, your rental company will hold you liable for that damage. When you have renters insurance coverage, your insurance will cover the accidental damage so that you do not have to pay for it out of your own pocket. Of course, your rental insurance policy has restrictions on what it will and will not cover. A renters insurance company will not pay for any damage that you intentionally cause. Some renters insurance coverage also includes liability insurance. If you have a friend come over and that friend gets injured while in your apartment, you could be liable for that individual's medical bills. A rental insurance policy that includes liability insurance will pay those expenses for you.

Make sure you carefully read your renters insurance coverage policy thoroughly. If your policy does not cover damage caused by floods, you might want to consider purchasing supplemental flood insurance. If your policy does not cover flood damage, you might have a hard time getting any water damage covered. Some insurance companies insist that water from broken pipes constitutes a flood. Make sure you ask your agent what damages will be covered. When you ask questions about your coverage, consider asking them via email. That way you have written documentation you can provide if you ever have a dispute with your insurance company. Your rental insurance also will not cover damage from riots, war, or other civil unrest. Although these events are unlikely to occur in your life, it is good to know what to expect in any unfortunate circumstance.

When you choose your policy, it can be tempting to try to save money by selecting a policy with a high-deductible. Although policies with higher deductibles cost less on a month to month basis, they can end up costing you big time if you ever need to file a claim. When your insurance company sends you a check for your damaged goods or for apartment repairs that you are liable for, they will subtract the amount of your deductible. If you have two thousand dollars in damaged goods and a two thousand dollar deductible, you will get no money from the insurance company. You will essentially be on your own. If your deductible is more than a thousand dollars, you might not have enough money in your savings to cover the difference. You will be unable to pay for all the damage or pay to replace your belongings. Select the lowest deductible that you can afford. Then, save up enough money to cover the deductible and put it in savings. That way, you will never be in a situation where you cannot afford to replace your damaged belongings.

If you think that you cannot afford renters insurance coverage, you are wrong. You cannot afford not to get adequate insurance coverage. If you do not get a rental policy, you could bankrupt yourself, especially if you are judged liable for significant damage to your apartment. You can get renters insurance coverage for an affordable price. It does involve spending some time comparing multiple renters insurance rates. Compare rates by getting quotes online or by calling major insurance companies. If there are any insurance companies in your area, you could even get a quote in person by going to their offices. Many housing companies require you to purchase a rental insurance policy. You might need to provide proof that you have purchased a policy before they will agree to rent to you. If this is the case, you probably need to find an affordable policy quickly. If you do not have time to compare rates from the major companies, see if your auto insurance company also offers renters insurance coverage. Usually, if you purchase more than one insurance policy from a company, they will give you a discount. Remember, you can always move to a more affordable company later. Do not put off purchasing rental insurance because you do not have time to shop around for the cheapest rate. Get covered now. You can always compare companies later and switch to a less expensive policy. Renters insurance coverage protects your belongings and your financial future, and every renter needs to have an insurance policy.