{"id":4817,"date":"2019-02-25T13:08:00","date_gmt":"2019-02-25T21:08:00","guid":{"rendered":"https:\/\/www.costulessdirect.com\/?p=4817"},"modified":"2022-12-23T23:52:41","modified_gmt":"2022-12-23T23:52:41","slug":"how-much-renters-insurance-do-i-need","status":"publish","type":"post","link":"https:\/\/www.costulessdirect.com\/blog\/how-much-renters-insurance-do-i-need\/","title":{"rendered":"How Much Renters Insurance Do I Need?"},"content":{"rendered":"
Updated: 09\/01\/2020<\/em><\/p>\n You moved into your first apartment and have purchased all of the necessities, such as brand new furniture, a 50-inch flat-screen TV, and a state-of-the-art computer. You may think you are set, but there could be something you are missing: renters insurance.<\/span><\/p>\n Apartment insurance is frequently overlooked. In fact, according to the <\/span>Insurance Information Institute<\/span><\/a>, nearly 95% of homeowners have homeowners insurance. In comparison, only 37% of renters have rental insurance. You may think that its an unnecessary expense, but it can be quite affordable. It will also save you a lot of money in the event of an unfortunate incident that affects your property or assets.<\/span><\/p>\n Renters insurance typically includes three types of coverage:<\/span><\/p>\n Like any other insurance policy, renters insurance has a coverage limit: the total amount your insurance company will pay in the event of a covered claim. Understanding the amount of coverage you need can take some time, but is worth the effort. You want to ensure you are fully protected and not overpaying for coverage you don’t need. There is a different process for determining how much personal property coverage you need and how much liability insurance you need.<\/span><\/p>\n When it comes to expensive items such as art or jewelry, many renters insurance policies have sub-limits on what they will pay for an individual item. Sub-limits typically range from $2,500 to $5,000. Suppose you have any expensive items, such as a $7,000 engagement ring. In that case, you may want to add supplement coverage for that particular item as you won’t be fully protected for that specific item.<\/span><\/p>\n Once you have determined the coverage limits, <\/span>get renters insurance quotes<\/span><\/a> from different companies. One major thing to be mindful of as you compare renters insurance policies is whether they will reimburse you for replacement or fair market value. Replacement value policies will pay for you to replace your items with new ones. Fair market value policies consider the current worth of your existing property.<\/span><\/p>\n It is certainly possible to find a cheap renters insurance policy. <\/span>According to Business Insider<\/span><\/a>, a renter insurance policy can cost as little as $15 per month or $180 per year. This amount seems nominal compared to the amount you would have to spend to replace all of your apartment’s belongings!<\/span><\/p>\n If you’re ready to purchase renters insurance in California, Cost-U-Less can help. Start your free renters insurance quote online, over the phone, or at one of our offices near you. We compare rates from top insurance companies to ensure you get the best coverage and lowest price.<\/span><\/em><\/p>\n\n\nWhat Does Renters Insurance Cover?<\/span><\/h2>\n
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How Do I Determine How Much Apartment Renters Insurance I Need?<\/span><\/h2>\n
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What Isn’t Covered by a Standard Renters Insurance Policy?<\/span><\/h2>\n
How Do You Determine the Best Renters Insurance for You?<\/span><\/h2>\n
How Much Does Renters Insurance Cost?<\/span><\/h2>\n