Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
How much renters insurance that needs to be purchased is based on your needs. You would ask yourself what are the items you need to cover and for how much. Also you would be looking to protect your self in the event of a lawsuit should you be sued for bodily injury or property damage by another party. In accessing your personal belongings there are many valuation guides out there to help you determine the value of your personal items. I suggest you consult with a local agent to help define your needs for renters insurance.
Renters insurance generally has two parts: Personal Property and Personal Liability. The Personal Property section should cover the replacement of all your personal belongings. The Personal Liability section will provide defense and coverage up to the limit in the event of a legal action brought against you for negligence. We suggest fully insuring your risk and then adjusting the deductible to suit the premium you wish to pay.
It is always better to properly cover oneself and have a high deductible than have a small deductible and end up with proper coverage in the event of a loss!
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The most important step is to find an insurance agent who will listen to you, provide sound financial advice and communicate clearly with you and the insurance company. Pictures are invaluable so photograph everything you own. On a piece of paper list the items in the photos and what it would cost to replace them. That sets your personal property limit. Then select as much liability insurance as the company offers. A lawsuit can ruin you financially.
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It is always better to properly cover oneself and have a high deductible than have a small deductible and end up with proper coverage in the event of a loss!
You may obtain a renters quote at: http://www.HDAinsurance.com/safeco.html