How to Buy Renters Insurance

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Not only do owners need to protect their belongings from fire, theft or other damages. Tenants can, and should, get insurance too.

Step 1: evaluate your belongings
Estimate the value of your belongings. This will help determine the level of insurance to buy.

Step 2: Detail everything if possible
If possible, detail everything, noting the value and date of purchase. This will make filing a claim much easier.

Step 3: cash or replacement value
There are two types of insurance coverage available, cash or replacement value. Cash coverage takes into account the age of your belongings, while the replacement value covers the actual cost of replacing the items.

When selecting coverage, consider the value of an item for you, as well as the ease of replacing it.

Step 4: look at the specific policies
Your car or your health insurance can also offer renters insurance, but be sure to compare prices. Your current company may offer discounts, but they are not the only game in the city.

Step 5: Consider any additional floats you may need
Consider buying a float, which provides additional coverage. Many policies limit the value of payment for items in a particular category, such as jewelry or electronic products.

Step 6: Request discounts
Check the discounts. If your apartment has a security system, that may qualify for a discount, such as smoke detectors or high quality locks.

Step 7: Read your policy and understand it
The fact that you have a policy does not mean that everything you own is covered in any situation. Does your policy include flood or tornado damage? Make sure you find out.

Step 8: Do not be afraid to ask questions
Do not be afraid to ask questions. The more you know, the better decision you can make.

Did you know?
Renters insurance can cost as little as $ 12 per month.

Video credits to Howcast YouTube channel

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    How to Buy Renters Insurance

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