How to Get Renters Fire Insurance
Fire insurance is a standard part of your renters insurance policy. It covers loss or damage to your belongings from fire or smoke damage. For the most part, insurance companies do not just write fire insurance for renters. Instead, they usually include it as part of a basic policy that covers loss or damage from multiple causes.
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Instructions
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Reduce Your Fire Risk
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Learn the keys to reducing your fire risk and, at the same time, reduce your renters insurance premium.
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Choose your rental property in an area that is within 10 miles of a fire station, has a good water supply, has a fire-safety perimeter around the building and is constructed with fire-retardant materials, such as brick, cement block and fire-retardant insulation.
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Have fire-safety devices in your dwelling. Fire-safety devices include smoke detectors, fire alarms, fire extinguishers and internal-sprinkler systems.
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Determine and practice what you will do in case of a fire. Allow contingencies for pets, small children and special items, like family photographs, that are not replaceable.
Get Fire Insurance for Renters
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Estimate the value of your belongings from an itemized list, and determine whether you want renters insurance based on the actual value (the cost of your belongings minus depreciation) or the cost to replace the item. Actual value policies have lower premiums, but they do not completely replace items lost in a fire.
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Contact a licensed, reputable insurance agent, and get a renters insurance quote.
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Ask whether you are eligible for a policy discount based on your age or vocation. You may even be eligible for a discount based on the number of years that you have been with your company.
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Compare quotes and terms at NetQuote.com (see Resources below).
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Determine which policy best fits your budget and needs. Contact a representative to get your renters insurance policy.
Make a Fire-Safe File
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Take your itemized list of belongings and document each item with a photograph, video and sales receipt.
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Send your documented, itemized list to a friend, store it in a fire-retardant file cabinet, or archive it with an organization that can ensure its safety.
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Include a backup of family videos, photographs and memorabilia that cannot be replaced.
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Update your fire-safe file annually, ensuring that you have a complete list of the things you own and memories you cherish.
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Tips & Warnings
Reduce your premium with a higher deductible. The deductible is the amount that you will pay out of your own pocket with each fire or smoke-damage loss you experience.
