What To Consider When Getting Renters Insurance?

  1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    Great question! You want to look for a couple of things. You want a policy that will provide the best coverage, for the lowest cost. There are many companies that offer renters policies, so the best thing to do is shop around , and preferably find an independent agent who will help walk you through the process. An independent agent is one that isn't tied to a big name company, but has the options of several companies to choose from. They will most times be able to find the best deal for you. A bit of advice? Ask for "replacement value", as opposed to "actual value" when you are looking at your choices. It can make a world of difference if you ever need to file a claim. Any questions? Feel free to contact me for more information, I'm happy to help. Thanks for asking!
    Answered on April 30, 2014
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  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Consider meeting with your Insurance Professional to discuss your needs and what may be offered as solutions to best meet those needs.   There are two basic elements to a Renters Insurance policy.  The first provides coverage for your personal belongings...your "stuff".  Clothing, furniture, area rugs, books, electronic equipment, kitchen ware and the like.   Be sure you have enough coverage to fully replace everything if it was all lost in a covered peril, such as a fire. Along with this, choose a deductible that best suits your financial circumstances.  The second element is Liability protection.  Liability coverage protects you and your financial exposure from action taken against you should you be legally responsible for injury to another person or damage to their property.  You will want to make sure you have enough coverage to reasonably protect your financial exposure which includes your income, savings, investments etc.
    Answered on April 30, 2014
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