| Deductibles | Liability | Personal Property | Receipts | Replacement Cost |

Why should I buy renters Insurance?

If you are renting or living in someone else’s home, condo, mobile home or apartment and your clothes, appliances, televisions, furniture, stereos, jewelry, food, computers and that collection of Batman Detective comics etc. were destroyed in a fire, could you replace them out of your pocket? If you said no, you need renters insurance. A landlord’s personal policy will not cover your personal property under their policy, you must purchase an individual Renters policy for your family to insure and protect your personal property while living there. Your landlord's policy doesn't cover anything that's yours. You have no way to know how careless other people are while living next door or the apartment or condominium below or next to or above you. Statistically, a large amount of fire and water damages result from stove fires and cigarette fires within an apartment or home, the collateral damage to your residence could be significant even though you were not the cause of the claim.

How are Claims settled?

The way a claim is settled is, your deductible is subtracted from the total loss determined then the difference is yours to go out and replace everything in a store new regardless of the age or condition of your personal property before the loss. This loss clause settlement is called Contents Replacement and is highly recommended. Typical deductibles that are available are 100, 250 and 500. It's certainly cheaper than replacing all your possessions after a disaster without having any insurance.

Is Personal Liability covered in a Renters Policy?

Yes, personal liability is covered in the event, you are held liable or are found legally obligated in a court of law to pay for your negligence or wrong doing. Remember, there are exclusions to all policies so make sure to read any that may apply by the insurance company you are purchasing from.

Is my personal property only insured while in my residence?

No, personal property is also covered anywhere you travel. There may be limitations on personal property usually situated other than your principle place of residence.

How will I be able to recall the contents in my residence if its destroyed?

It's wise to generate a detailed list of your possessions. Making a video or photographic record of your possessions is advisable, as well. You may want to consider storing your inventory in a safe-deposit box off your property, or at least in a lockable fireproof storage box in your home. Not only will a record of your possessions take most of the guesswork out of filing a claim, police say such documentation can help you prove ownership in case your belongings are recovered from a thief. Also, you may want to videotape or photograph the mess after a disaster and before you begin the cleanup. This can help but is not required for you to prove the extent of loss thus having your claim settled and paid alot sooner.