What You Should Think About When Buying Renters Coverage

Questions to ask yourself when buying renters insurance.renters moving into home

If you are living in a rented home or apartment, then you need renters insurance to secure personal property, personal liability, and loss of use coverage.  While renters insurance seems pretty straightforward, it’s important that you do not simply choose a policy on a whim.  Ask yourself these questions to ensure that you are choosing the right policy to fit your needs.

  • How Much Are My Belongings Worth?

As mentioned, renters insurance is designed to protect your belongings.  To ensure that your policy is offering the comprehensive coverage that you need, you need to determine the value of all your possessions.  While itemizing your possessions is tedious, taking this step is better than finding out that you do not have coverage for major loss events.

  • Do I Need Coverage for Valuables?

Like all insurance policies, renters insurance is subject to coverage limits.  This means that if you have particularly high-value items, such as fine jewelry, antiques, collectibles, electronics, and so on, then your policy might not offer enough coverage to protect these items.  To ensure that you aren’t leaving your high-value items vulnerable, consider adding coverage endorsements onto your renters policy to secure the supplemental protection you need.

  • What Are My Personal Liability Risks?

In addition to protecting your possessions, renters insurance also provides personal liability coverage.  Personal liability issues can arise when someone is injured while in your rental property, you or a member of your household accidentally causes losses or injuries to another party, or when a pet causes harm to another.  Because personal liability suits can be very costly, it’s important that you have enough coverage in place.  To secure an adequate amount of personal liability coverage, speak to a trusted agent so they can get a better understanding of your personal risks.

These are some of the questions that you should ask yourself when choosing a renters insurance policy.  Do you have additional questions about your renters coverage?  If so, then contact the experts at Miller Carlisle Insurance Services.  We are ready to assist you with all your coverage needs today.