Most everyone is familiar with homeowners insurance, but did you know there is insurance for apartment renters? Many are unaware these plans are available. If you rent your living space, renter’s insurance is a “must have.” This coverage can provide an inexpensive way to protect your possessions in the event of fire damage, theft, or injury.

How Does Renter’s Insurance Work?

Renter’s insurance and homeowner’s insurance are similar because they usually cover many of the same things, with one notable exception. As a renter, you do not own the building or the property it sits upon, and consequently, it is the owner’s responsibility to insure these. However, your landlord will not be responsible for any items within your rental home. This is where renter’s insurance comes in handy. This coverage is for you and your belongings, as well as your peace of mind.

Coverage Worth Considering

1.    Replacement cost coverage. If an older piece of computer equipment is stolen, it will most likely be expensive to replace. Basic plans may only cover the items at their depreciated value. Having a replacement cost plan would increase the benefit, making it easier for you to get another computer. 2.    Choose a low deductible. Look for a plan that includes a low deductible since this will mean less out of your pocket should you ever have to file a claim. 3.    Personal injury liability coverage. This feature will protect you in the event someone is injured while visiting your apartment. 4.    Adding worldwide coverage. This plan covers items you take with you on the road. For example, if you are an artist and carry your paintings with you in your car, this coverage can help in case of loss. 5.    Add-ons unique to your area. Do you live in a documented flood or earthquake area? Get with your local agent to find out if this type insurance is available to you.

How Do I Get Renter’s Insurance?

1.    Do your homework. Just like with any insurance coverage, you’ll need to assess your particular situation and make a list of the specific coverage you’d like to include in your plan. 2.    Check the website. Once you locate a local insurance agent, review the main pages of the company’s website to see if they offer renter’s insurance. 3.    Research the agency. Take time to check the reputation and reviews for the insurance company to determine whether they are the right fit for you. 4.    Get a quote. Contact the insurance agent and ask for a quote for insurance for apartment renters. In many cases, you can ask for a quote online via the insurance agency’s website. If you are looking for renter’s insurance, contact us. AtSteven Graves Insurance Agency in Dallas, TX, we have 20 years of experience in the insurance industry. Let us put together an affordable proposal for your rental coverage today.

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