What To Look For When Choosing a Renters Insurance Policy

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What To Look For When Choosing a Renters Insurance Policy

What To Look For When Choosing a Renters Insurance Policy

Choosing A Renters Insurance Policy

The most important thing when you are looking for a renters insurance policy is to be sure that it covers your belongings but fits within your price range. Be sure to obtain multiple Insurance policy quotes and compare them before signing any contract. Below are some pointers to help you in making an educated choice.

1. Ensure You Have The Coverage You Need

Your Renters Insurance Policy will cover the cost of replacing your belongings but do you need extra coverage? What you believe is automatically covered by your standard insurance policy may actually not be covered. Items such as antiques, jewelry or other high cost items may need to be itemized on the policy.

2. Check For Flood Coverage

Do you need flood coverage? Most insurance companies in response to the losses they incurred from hurricanes in the past do not provide coverage for losses from the result of flood damage.
If you do need coverage for water damage a separate policy or a higher premium may be required.

3. Consider Roommates

Your Renters Insurance Policy will only cover you the insured, which means that if you have a roommate and their belongings are damaged they will not be covered by your policy. Be sure to read through your policy to determine if it covers all the belongs within your leased property or only the named insured (you).

4. Consider Your Representation

For the best rates consider using an insurance company that has a local representative instead of using an out of state company. This is important as local agents usually offer lower premiums because they are familiar with your local area and are able to help you out if you have to make a claim.

We are Frisco, TX home specialists. If you have any questions about real estate in Frisco, or any neighboring DFW communities, please fill out our contact form, or call 469-556-2393 for assistance.

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JP And Associates REALTORS

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