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	<title>New answer on: What Should You Know About Renters Insurance?</title>

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		<title>By: David Mrozek</title>

		<link>https://insurancelibrary.com/renters-insurance/what-should-you-know-about-renters-insurance</link>

		<dc:creator>David Mrozek</dc:creator>

		<pubDate>Sun, 17 Nov 2013 13:28:43 +0000</pubDate>

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		<description><![CDATA[I&#039;m glad you asked this question. &#160;I wish more people would before they listen to someone tell them that the lowest price is the best. &#160;Nothing could be further from the truth. &#160;For a very reasonable and affordable premium, you can get renter&#039;s insurance that works right for you.
 
 &#160; &#160; First, pick the right limit for your personal property(your stuff). &#160;there are some great tools to help you estimate this and the number&#039;s bigger than you think. &#160;One of the best is on Allstate&#039;s website(no, I&#039;m not an Allstate agent, I just like their tool).
 
 &#160; &#160; Next, pick the right settlement option. &#160;
 &#160; &#160; &#160; &#160; &#160; Actual Cash Value(ACV): &#160;The insurance company will depreciate everything you lost and write you a check for that amount up to the policy limit. &#160;
 &#160; &#160; &#160; &#160; &#160; Replacement Cost: &#160;The insurance company will pay to replace the stuff you lost with new, up to the policy limit. 
 &#160; &#160; I usually sell replacement cost because most people would rather have new stuff. &#160;Keep in mind, if you choose replacement cost, your limit should be higher than if you choose ACV.
 
 &#160; Make sure you have broad form or special form coverage on your personal property. &#160;This will ensure you have coverage for theft.
 
 &#160; Lastly, pick the right liability limit. &#160;If an agent tries to sell you a liability limit of $100,000, run away and find a new agent. &#160;If you get sued, it will likely be for a lot more than $100,000. &#160;Here&#039;s the worst part, the premium difference between a limit of $100,000 and $500,000 could be as low as $9 per year(that&#039;s what it is with my company).
 
 The most important thing you should know is that a good agent will take the time to find out about you and the things you own. &#160;Then, he/she will put together the right coverage to protect you. &#160;If it costs a little more, pay it. &#160;An extra $50 premium might save you thousands at claim time.&#160;]]></description>

		

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