Nowadays, many landlords require tenants to show proof of renters insurance coverage prior to signing the leasing documents. This type of protection is designed for people who rent their homes, whether apartments or houses. The purpose of a policy is to protect your personal possessions, such as clothing, furniture, etc. Additionally, most policies will cover your valuables even when they are not physically in your apartment. For instance, if your laptop were stolen at a coffee shop, your renters insurance would most likely reimburse you for the loss.
If you’re new to the world of renters insurance, the blogs in this category can help you navigate the important decisions you face when purchasing a policy. For one, you will have to decide whether to buy replacement value or actual cash value coverage. Likewise, you must decide how much coverage you need for both the personal property and liability portions of your policy. Underinsuring your apartment could lead to serious financial repercussions down the road, so we’ll explain how to assess your specific needs as accurately as possible. In the following posts, we’ll provide succinct answers to these and other questions about the basics of purchasing a plan.