15 Things You Need for a Renters Insurance Quote
You’re moving to a new apartment and you’re looking to protect your belongings with a renters insurance policy. Get ready to answer a few questions. Not sure if you’re prepared? Here’s a list of the questions you’ll be asked when you apply for renters insurance.
Without further ado, here are 15 things you need for a renters insurance quote.
1. Name and Date of Birth
It starts off easy enough. You will be asked for your full name and your date of birth.
2. Email Address
Next, you will be asked for your email address. Got more than one? Give them the one you use most often so you won’t miss out on any important emails from your insurance company.
3. Apartment Address
This one is pretty obvious. You will be asked for the address of the apartment in which you will be living.
4. Coverage Start Date
You will be asked when you would like your renters insurance policy to begin. So choose a date that is convenient for you. The sooner the better if you’ve already moved into your apartment.
5. People in the Apartment
An insurance company will want to know how many people are living in the apartment on a full-time basis. So count up your roommates and let the insurance company know.
6. Home Business
Are you running a home business out of the apartment? An insurance company will want to know the name and type of business being conducted.
7. Value of Personal Property
How much are your belongings worth? Doing a home inventory will help you get organized and help determine how much renters insurance you may need. So go item by item through your apartment making note of your most valuable items. Once you do, you’ll have a good idea of just how much renters insurance that you need.
8. Locks on Doors
How secure are the doors in your apartment? Are there deadbolt locks on exterior-facing doors? Check the locks and let the insurance company know.
9. Fire Extinguishers and Smoke Alarms
Do you have each of these items in your apartment? What about sprinkler systems? How safe is your apartment in a fire? If you have a smoke detector in your apartment you may qualify for a discount on your renters insurance.
10. Burglar Alarms
Does your apartment have an alarm system to alert you if an intruder should strike? An insurance company will want to know. If you do have a burglar alarm in your apartment, you may qualify for a discount on your renters insurance.
11. Claims History
Have you filed insurance claims for losses in the past five years? Share this information with the insurance company.
12. Property Insurance Coverage
When was the last time you had property insurance coverage? Dig out the old policy and check. Share the coverage dates with the insurance company.
13. Proximity to Fire Station
How close is your apartment to the nearest fire station? The insurance company is interested in this distance. They will want to know if you live outside the city limits and away from fire protection service.
14. Increased Coverage Limits
If you have valuable jewelry or expensive home computers you may need to increase the coverage limits on your renters insurance. So take a look at your most valuable possessions and let an insurer know what you find.
What kind of deductible would you like with your premium? The higher the deductible the lower monthly premium. Just make sure you have the money for the deductible set aside in a checking or savings account. That way you will have the money on hand if you need to file a claim with your renters insurance. You will need to pay your deductible in full before you can collect any losses from your renters insurance policy.
Now that you know what an insurance company will ask when you call about renters insurance you can start thinking about getting the best insurance deal.
To get the absolute best deal on a renters insurance policy you will need to shop around and check out offers from several providers. Not up to the task? You don’t have to be.
SmartFinancial makes it easy to compare free renters insurance quotes instantly. Just input your zip code and you’re ready to go. Next, answer a brief questionnaire letting SmartFinancial know the kind of renters insurance coverage that you want. Do you want a cheapest possible policy or are you looking for more comprehensive coverage?
SmartFinancial will do a comparison of more than 200 insurance companies so you are bound to find the renters insurance coverage you want at a price you can afford in no time.
So pick the renters insurance policy that you want, apply for coverage and then sit back and relax and enjoy your new place.
Get a Free Renters Insurance Quote.
Renters insurance covers damages and losses from natural disasters such as hail, fire, rain and wind storms such as hurricanes. But not every kind of natural disaster is covered by renters insurance.
Many people wrongly assume that a landlord’s policy will protect them if something terrible happens, but that is just not true. Only a renter’s policy will cover you if you need to replace or repair your belongings.
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Imagine the ceiling caving in; a major leak upstairs or a fire! If something were ever to go wrong you may not only have to replace some valuables in your apartment, but your place may become uninhabitable for a length of time too. What would you do if you had to stay in a hotel for a couple of weeks?
You may not remember everything that got destroyed and you won’t be compensated for it either. Think about what kind of damage a really bad water leak or fire will do. Your things may become unrecognizable and you may not list everything properly when you start the claims process. Or worse yet, what if the insurance company requires proof of ownership?
Comparison shopping usually results in a savings of several hundred dollars a month!
Here is what you should keep in mind If you rent an apartment, condo, townhome or single-family home.