How do I obtainer Renter's insurance?

Obtaining renter's insurance for your apartment or town home.

Tutorial

Most companies that offer home owner’s insurance also offer renter’s insurance. And these companies are often the same as the companies that offer auto insurance. So you can start by calling your auto insurance company and asking if they offer renters insurance. Or you can try calling all the “main” insurance companies like Allstate, State Farm, etc.

You might find better premiums if you do a search online for Renter’s Insurance. Once you find a few companies to get pricing from, the actual coverage and premium will likely depend on the area in which you live. For example, you cannot get renter’s insurance in some southern California cities because of the high probability for earthquakes. The same is true in some Florida towns because of hurricanes. It also may be true if you live in a mobile home.

The insurance agent you speak with at the companies you research will be able to tell you if you are eligible. They can also explain to you how to estimate the value of the belongings in your home. Don’t let them just estimate that your belongings are worth $25,000. That is usually their lowest payout level, and many people who don’t know their belongings’ worth may go with the $25,000. But this can end up costing you if, when calculated out your belongings are really worth closer to $45,000.

Get a couple of quotes and compare before making your choice.