How to Get Apartment Renters Insurance

Apartment renters insurance is coverage for your belongings. This insurance is needed not only for acts that happen in your apartment, but also for the damage to your property that may come from apartments nearby.

Instructions

Difficulty: Moderate

Things You’ll Need:

• Itemized list of your belongings

Get the Right Apartment Renters Insurance

1. Determine the approximate total value of your belongings.
2. Estimate how much would you pay out of your own pocket to replace or repair your belongings if they were stolen or damaged.
3. Itemize any high-priced antiques, jewelry, computers, electronic equipment, or other items that may need additional coverage.
4. Find out whether you live in an area that is prone to floods, earthquakes, mudslides, mold or "acts of God" that may require additional coverage.

Get Apartments Renters Insurance

5. Contact an insurance company and answer its questions about the kind of insurance you want and the value of your belongings. Answer these questions as honestly and directly as possible.
6. Determine any additional coverage needed for high-priced items or unusual conditions (floods, hurricanes, tornadoes or mold). These additional policies (called riders or floaters) may cost extra, but will ensure you are covered if certain events take place.
7. Ask about what is covered under the policy. Make a list of the items that are covered.
8. Ask whether there are any discounts available to you based on your age, gender, marital status, grades or occupation. You may even obtain a discount if you have additional automobile or life-insurance policies with a particular company.
9. Contact at least three companies, get quotes and inquire about their basic policies, rider costs and discounts.
10. Decide which company offers the best policy for you, and then confirm that the company is legally allowed to operate in your state. Make sure the company has an acceptable financial and customer-service rating.
11. Contact the insurance company, negotiate any additional details, determine when you want the coverage to begin and arrange payment.

Tips & Warnings

• The higher your deductible, the lower your monthly premium. Remember that you will pay the deductible amount from your own pocket for every damage or loss that takes place.
• Beware of disreputable companies. Make sure that you are dealing with established companies that are licensed to operate in your state and have good customer-service ratings.