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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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Tenants home contents insurance is vital to protect the investment of your hard earned money on the personal property inside your rental home. In the event of a flood or fire, landlords most assuredly has hazard insurance protecting his structural property, however renters may feel at a disadvantage because they aren't insured for the protection of their contents. But, it doesn't need to be that way. That's why there's tenants home contents insurance.

Tenants insurance isn't very expensive at all and for the price of roughly a meal at a mediocre restaurant once a month, you can have your possessions insured and protect yourself against loss whether you live in a home, apartment or condominium. Tenants home contents insurance is the safest way to make sure you don't lose everything and find yourself starting over again from nothing.

Determining Your Personal Property Value

Before you decide on the amount you'll spend on tenants home contents insurance, you'll need to determine how much coverage you truly need. That will determine the type of building contents policy you'll be seeking. It won't take very long to decide on the amount of tenants coverage you'll require, depending on the size of your home and the amount of contents you own. You simply need to take an inventory of your contents.

Since you are the one who chooses the amount to place on your contents, you'll need to find a way to assess that value. You certainly don't want to leave yourself undervalued in the event of a loss. You won't want to overvalue your contents either as you don't want to pay for insurance on items you don't own. That would be a waste of your money.

Be very thorough in deciding the amount of value you place on your personal property. This amount is called the limit because it's the most you can claim against your tenants home contents insurance. If you suddenly purchase a new expensive television set, you'll need to adjust the limit on your tenants home contents insurance policy if you want to be covered. If you forgot to value something for your policy and you do lose everything, you will be out of luck. That's why a thorough evaluation of your personal property is so essential.

Begin by listing out all of that which you would take with you if you were to leave. That's your personal property. Determine the amount of value for each piece, being careful not to omit high-end clothing, shoes or jewelry. Remember electronics and any tools you value which are kept on the premises of your rental home.

If you can make a video or picture inventory, you should do so. Gather any receipts you might still have for your valuables and keep all of this together with your inventory at a location away from your condominium, apartment or house. You might look into storing this information in a bank safe deposit box, or in the care of a close friend or relative. Anywhere where you'll have access to the information when you need it.

If you have rare collectibles, jewelry, musical instruments, or firearms, they need to be covered on a separate policy. In the case of extreme value, you may need to obtain professionally assessed value of certain items for your insurance policy. If you have questions regarding the value of your contents, ask your tenants home insurance agent. He or she will be more than happy to walk you through the process.

Shopping for a Tenant Policy

Once you have determined the amount of coverage you'll need, you can start shopping for a policy. Contact insurers who underwrite tenants home contents insurance and request quotes for policies and rates. Compare these quotes along with the coverage you'll receive so that you can follow up on the quote that's right for you.

Remember to go over anything you don't understand with the agent who's selling you your tenants home contents insurance before you sign the policy. Don't settle on the first policy that fits your budget. You'll want to compare tenants coverage and not just go for the cheapest rate.

How many times have you turned on the news only to see a story about a local fire that devastated someone's home. Often you'll notice the resident who lost everything was living in an apartment or townhouse. Quite frequently, tenants lament that they had no insurance and have essentially lost it all. These events occur everyday and tenants everywhere should be aware of how they can obtain protection so that they can, at the very least, begin again.

Obtaining tenants home contents insurance is a responsible thing to do. Your possessions are protected against loss and you are sure to be compensated for that loss. You can feel confident that you made the right move.