Renter’s insurance policy protects the insured from losses to the contents of a dwelling rather than the dwelling itself. This type of policy covers 17 major perils as well as provides liability protection and is ideal for renters since it provides protection from losses to the contents within the dwelling as well as personal property. Not only that, but it provides for additional living expenses if in the unfortunate event that the dwelling is rendered uninhabitable by one of the covered perils.
This type of policy is specifically for anyone that does not actually own the home, condo or apartment in which they are living, but simply owns only the material valuables inside (or outside) the dwelling.
How do you know if renters insurance is right for you?
If you do not have very many possessions, you may not want to pay for renters insurance. However, if you would have a hard time replacing your belongings, renters insurance is an exceptional value.
Is renter’s insurance expensive?
No. Although renter’s insurance is very reasonable and fairly inexpensive, only one-forth of all renters actually carries this type of a policy.
How do I document my belongings for insurance purposes?
Make a home inventory. It is a good idea to document the items in your home for the purpose of proving ownership for insurance purposes. To do this, simply walk through your home with a video camera taking inventory of each room, or take regular photos of each area inside and out of your home. Be sure to document in writing major purchases, their model numbers and how much you paid for them. Then keep these photos and documentation at another location other than your home, so that you have access to it if you lose your home through flooding, fire or other peril.
In order to find the best type of insurance policy for your situation, call a licensed Western States Insurance professional who can tailor a policy according to your unique life circumstance. It is worth the effort to protect your belongings now and in the years to come. Click above for an instant renters insurance quote or talk to a Western States Insurance specialist today. Call our office in Spanish Fork Utah – (801) 798-7461