You should consider buying renters insurance to protect yourself from potential financial losses as a renter. However, if you have never bought renter's insurance on your own before, you should remember some essential things when buying your policy. This article will help you do so
In contrast to what many people believe, the premiums for renters' insurance are very affordable. Just like with homeowners' insurance, you can find discounts that will lower them even more. Having a security system installed and bundling your policies will help you qualify for discounts. Talking to your insurance agent can help you find more discounts that may apply.
Antiques, expensive jewelry, and collectibles carry additional value, requiring additional coverage at an extra cost. You should have them appraised to find out what they are really worth and get coverage accordingly. It's important to take detailed pictures of each item and include them in the inventory of possessions you provide to your insurance agent.
There are times when you may not be able to get insurance. If a natural disaster is looming on the horizon, insurance companies may stop issuing insurance policies for homeowners and renters. Waiting to buy insurance until an inevitable event may leave you without the protection you need. To avoid this, buy renters insurance before a bad situation is forecasted.
Once you have purchased a renter's insurance policy, there is more for you to do. You will need to make a detailed list of all your possessions. Include serial numbers and descriptive notes. You should also take pictures of each item to show its true condition. You can also record a video of your inventory to be able to show that each item works efficiently. Keep your inventory updated by adding new items as you purchase them. These things will help clear up any questions raised on the condition and functioning of your inventory during the claim filing process.
You may need to update your policy occasionally to protect yourself from any new perils. You may need earthquake, flood, or hurricane insurance if you live in areas where these perils are present. Purchasing high-dollar items, like big-screen televisions, electronics, jewelry, etc., will also require updates to your policy. Include the new item in your home inventory and report it to your insurance agent immediately. Annually updating your policy will help ensure all of your possessions are fully covered.
It's important to buy your renters insurance policy as soon as possible. Waiting to buy your policy can spell disaster if a severe storm or other unforeseen event is predicted and you haven't purchased your policy. If you have any questions about renters insurance policy, contact our insurance agents at Fuller Insurance Agency to assist you. We will help you get the right coverage you need to protect your personal items and secure your financial future.