How To Estimate Renters Insurance Coverage?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A quick way to estimate the cost of renters insurance is to check with neighbors in similar units.  Although their coverages may be different, they will give you an idea of what to expect.  For an accurate quote contact a trusted insurance agent.  If you haven’t an agent, your neighbors, colleagues and friends can provide recommendations.  It should take only a few minutes to prepare a quote for a renter’s policy.
    Answered on May 1, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    All that you need to estimate renter’s coverage is a camera. Take pictures of everything that you own in the unit that you are renting. Systematically list the items and estimate the cost of replacing each individual item. Add the estimates and you will have the replacement cost of your personal property. That should be the amount of coverage you purchase on a renter’s policy. The other part is liability and my recommendation is always, buy the highest limit that the company offers. A lawsuit is extremely expensive and can ruin you financially.
    Answered on September 22, 2014
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