Are you a renter? You’ve probably heard by now that purchasing a renters insurance policy is the responsible thing to do to protect your belongings from disaster. But before going out and buying the first policy you find, it’s in your best interests to know which questions you should ask your independent insurance agent to ensure you get the right amount of coverage. Start with the following questions:
- Are all of my belongings covered? Most standard renters insurance policies will cover the majority of your belongings, up to policy limits. However, high-value or collectible items—jewelry, musical instruments, china etc.—may require additional coverage, along with business equipment if you work from home.
- What perils are covered? Standard policies cover fire, smoke, wind damage, theft, vandalism and water damage caused from internal sources like an overflow or burst pipe. Earthquakes and flooding caused by external sources require additional coverage.
- Are my belongings covered if damaged or stolen outside of my apartment? In most cases, the answer is yes. But it’s better to know for sure. If the off-premises damage is caused by a covered peril (such as a fire at a dry cleaner when your nicest suits are there), you are often covered. Ask your agent the specifics about off-premises theft, especially if you travel often.
- Is my roommate covered too? Renters insurance includes coverage for your family, but roommates provide a bit more of a grey area. In most cases, only two roommates can be named on a policy. If you go this route, make sure you room with someone you can trust. If you file a claim, the check will be written out to both of you, even if the damage only involved the belongings of one person.
- Am I covered if someone is hurt in my apartment? This is what the liability portion of your policy is for. If a visitor breaks an arm after slipping on a wet bathroom floor or is bitten by your dog, your policy can cover the associated medical (and even legal) expenses. Talk with your agent about how much liability coverage is right for your situation.
- How much does renters insurance cost? Most policies cost between $15 and $30 per month, depending on your coverage needs. To ensure you buy the right amount of coverage, take a personal inventory to estimate the overall value of your belongings.
Ready to get started? Call Key City Insurance at (435) 656-8100 for more information on Victorville renters insurance.