Things You'll Need:
- Itemized list of your belongings
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Step 1
Itemize your belongings, and document each major item with a photograph, keeping these photos in a place where your risk of loss is minimized. This may mean you need to leave copies of the photos with a friend or store the pictures electronically.
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Step 2
List the purchase cost of each item and include how much it may cost to replace it.
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Step 3
Decide whether you want renters insurance to pay the current value of your belongings (your initial cost minus the amount it depreciated) or whether you want a policy to pay the amount it would cost to replace your belongings.
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Step 4
Assess whether you will need to get additional coverage, called a rider or a floater policy, because of specific, high-value jewelry, electronic equipment, stereo equipment, musical instruments, furniture or other items.
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Step 5
Determine whether or not you will need additional insurance coverage because you live in an area that is prone to floods, hurricanes, tornadoes, mudslides or other "acts of God."
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Step 6
Estimate how much you can afford to pay out of your own pocket if a damaging event, accident, or theft takes place.
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Step 1
Find a reputable insurance company that operates in your state, and ask its representative for a quote.
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Step 2
Compare your renters insurance quote with quotes from at least two other insurance companies at NetQuote.com (see Resources below).
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Step 3
Check the ratings of your top three companies.
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Step 4
Compare insurance company ratings for financial stability and customer service.
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Step 5
Decide from which company you want to purchase insurance. Choose a company that has a good rating, an excellent customer-service reputation and competitive pricing. Contact the company's representative to arrange the terms of the policy, including the starting date and payment.
