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
RENTERS INSURANCE REVIEW
Use this helpful renters insurance review to find the answers you need before buying your renters insurance policy. With a call or a click, you can purchase coverage for all the personal property in your home, condo, or townhouse.
The process of purchasing this type of coverage is simple and with the helpful information contained in this renters insurance review, you will be well on your way to finding the policy you need and the price that is within your budget.
The first thing you should do is evaluate your personal property and make a list of all your stuff. There are several items you'll want to add to your list, including: shoes, clothes, jewelry, electronics, books, portable readers, antiques, art objects, televisions, and appliances. After you've created your master list, take a few minutes to do a rough calculation of the value of each item. This will come in very handy when you call a renters insurance agent to decide on what kind of policy you need.
Now, review your budget for the year and think about how much coverage you can afford. Bear in mind that your landlord's policy isn't going to cover any damage or loss to the possessions you keep in your house, apartment, loft, or condominium. His policy just covers the building and infrastructure.
When you speak to an agent, be sure to discuss personal liability coverage. This is probably one of the most important things you will learn about in this renters insurance review. Most people don't stop to consider what they would do if a friend or colleague were injured while inside their dwelling. Your landlord's policy won't cover anything that happens once someone crosses the threshold of your place. That's up to you.
Renters Insurance Review-Coverage Types, Savings Tips
Renters come in every conceivable size and shape. Are you a senior citizen? College student? Divorced single? Small family? Whatever your situation, you can use the tips in this renters insurance review to help you get the right policy.
Our renters insurance review indicates that there are two coverage types that you can choose from: actual cash value (ACV) and replacement cost value (RCV). Though the ACV policy costs less each month in premium price, it pays less at the time of loss. Reimbursement under ACV policies pays for the value of the item at the time of loss minus depreciation. Alternately, with RCV policies, you pay more for the premium, but at the time of loss, your reimbursement is for the actual value of the items with no deduction for depreciation. Review your finances and decide on which of these types you can afford and balance it against the amount of property you want to cover.
Any good renters insurance review will advise you to seek ways to save on your premiums, and this review is no different. When you speak to your agent about insurance coverage, discuss discounts for installing security devices. If you will just take the time and marginal expense required to add a monitored burglar alarm and a fire extinguisher, you can experience immediate savings.
Another tip to note in this renters insurance review is to get auto insurance under the same provider you buy your rental coverage from. By doing this, you will get lower premium rates for insuring multiple properties. Review the current cost of your auto coverage, and think about going with the same insurer.
Are you a student living off campus and on a tight budget? An older person living on a fixed income in a retirement village? Review the various websites online to see which insurers offer discounts to students and seniors.
Renters Insurance Review-Additional Considerations
Remember to review your budget to determine whether you can afford extra coverage for high-value items which cannot be replaced. Your insurer can cover these items individually, in addition to your other items, so that if these are lost, you have extra coverage on them. Though you may not be able to replace the priceless art objects or antiques you may lose, you can at least find a nice substitute with the extra money.
This renters insurance review wouldn't be complete if it didn't advise you also to consider including coverage for living expenses in the event of total loss. For example, if a fire destroyed your entire apartment building, and all your personal belongings went up in smoke, you would have to move and to replace these items. With extra renters coverage for living expenses, you could pay rent for up to 12 months and replace most, if not all, of your lost property.
Taking the time to read this renters insurance review will give you an advantage so that you will find what you need in a shorter amount of time. Contact an insurer today.