How To Prepare Yourself To Be An Expert In Apartment Renters Insurance
If you need to purchase a renters insurance policy, there is an abundance of information available. Not all of it is clear, or even helpful. We present to you a list of shrewd tips that will make it a bit easier for you.
Tell your insurance company about any special features or benefits of your neighborhood. For example, if you live in a newer community, you may be eligible for additional discounts. If your neighborhood offers a formal entrance procedure, these safety features can further reduce your renter’s insurance premium.
When getting insurance make sure you tell your insurance agent to add an addendum for flood and water damage. Most policies do not cover water damage unless it is added to the policy. Even if you don’t live in a flood zone, your home can suffer water damage from extreme weather and after a fire.
After purchasing your renters insurance policy, go around your home and take photographs of your belongings so you have a visual inventory. Store these photos in a fireproof safe or at a relative’s house. These photographs will help the insurance company document your claims, and help you get your money faster.
Don’t wait to find apartment renters insurance.
If your offer for a new apartment has been accepted, it’s time to start your comparison shopping. You will need to have this figured out and in place before the close of escrow. Make sure that you get accurate quotes from several companies before you make your choice.
Consider geography when you consider how much your apartment renters insurance policy will cost. Regardless of the materials used for your apartment , where it’s located can make a huge difference in cost. Homes at the beach or near a large lake, will cost more to insure, as will homes in a earthquake prone zone. Make sure to budget these factors in when selecting your policy.
If you run a home-based business, you will NOT have business liability coverage in your home owner’s insurance! You need to contact your insurance company and get a separate insurance policy to cover any injury or damage your business might cause. For example, if you run a daycare you MUST get a separate insurance policy in case any of the children are injured.
Don’t forget your drawers when completing your photo or video inventory for your rental apartment insurance. Also, make sure you include aanything you might be hiding away in a secret spot like expensive jewelry. Open up that jewelry box and take photos of each item separately with the purchase price and date of purchase, if known.
We don’t claim that this a comprehensive list of the advice that you need, but it should get you going in the right direction. Why not make a few notes outlining what tips you think that you can use? Try to apply some of these suggestions – we are confident that you can get a better deal.