The house owner’s insurance coverage is often not adequate when it comes to covering the renter’s personal belongings or injuries. Renters (irrespective of whether they are a student renting an apartment, a retired individual enjoying a few days of solitude or working executives) should be aware of the risks of personal injury or loss of valuables from their rented apartments. They should opt for the right kind of renter insurance to cover the losses and expenses.
Several insurance companies in the US provide renter insurance and in order to avail a proper deal, people should request of renter insurance quotes from the companies. But before applying for an insurance quote, a price estimate of the valuables possessed should be made. Jewelry, valuable antics, purchase date and price of the items should all be listed. It is also a good idea to have photographic evidence of all the valuables.
The renter insurance would vary from one company to another and everyone offers some unique features or benefits but there are a few things (as listed below) that are common to all policies: Replacement Value for loss from theft, vandalism or fire, Renter’s expenses, Liability Protection, Guest Medical Protection, and credit card transactions that are not authorized.
There are a few things that are necessary to avail discounts on the renter insurance and at the same time get the best available rate in the market. Comparing the quotes from different companies is a common way of finding the best renter insurance in the market. Since there are numerous companies offering renter insurance, so there are very good chances of getting a cheap premium rate. In case the renter is already policy holder of other insurances then they can tag the renter insurance with those; this is a wise way of availing good discounts.
Some other thing that can be followed to avail discounts is installing safety or security devices and renting an apartment in a safe locality. These things are considered by the insurance companies while providing renter insurance quotes. Opting for the standard deductible of $500 would help in saving up to 30% on premiums.
It is very easy to purchase renter insurance as most of the companies allow online purchase. Submitting an online application and payment of the first premium would be good enough for the company to approve the application. The insurance comes into effect within a few days after the payment of the first premium.