Living in an apartment or a rental property does not mean you do not need insurance. While you may not own the property you live in, you do need to protect all the furnishings and belongings that you have in your home. The best way to do that is with a good renters insurance plan. 

Inventory Your Belongings

Before you buy renters insurance, it is important that you know the value of your belongings. The best way to get a good idea of this is to do an inventory of all your property and photograph the serial numbers of things like electronics. If you have a claim, you need to have a record of what you had in the home and what was lost. Make sure you save any pictures you take in a safe place. If you take them with a cell phone, upload them to a personal cloud folder so that you can get to them from another device or location. If your phone is lost or damaged in the residence, the pictures need to be secure so that you have them to prove what was in the apartment or home at the time of the incident that caused the damage. 

Buy Enough Insurance

Renters insurance is relatively inexpensive so it is important to buy the right amount. Many companies offer low-cost plans that are set at five or ten thousand dollars in value. While that may be enough to cover everything you own, you need to be sure. You can use your inventory to determine the value of your property and take that with you to the insurance agent when discussing your insurance needs.With the low cost of the coverage, it is not going to add a lot to the premium if you add more coverage unless you have an extremely large amount of coverage. 

Understand Your Coverage

When you are buying your renters insurance, ask about the coverage and find out if there is anything that you need to add on. If the coverage does not include flood insurance but you live in an area prone to flooding, you need to know that. Ask specific questions about the coverage, how to place a claim, and what you can expect from a company likeScovotti Insurance when you file your insurance claim. The agent can walk you through all the important parts of the process and help make sure you have the coverage you need.