Due to tight lending restrictions and rising house prices, many are opting to rent rather than buy. You save yourself from harsh property taxes, and you have very little risk when you rent.
However, if there’s a problem at the property, your landlord won’t cover your personal possessions. And if the property becomes uninhabitable due to some unplanned issue or event, your landlord won’t cover your hotel expenses. It’s important that you purchase renters insurance to properly protect yourself. We have compiled three of the best tips when looking to buy renter’s insurance.
- Know the coverage amount. The purpose of renters insurance is to cover your personal belongings, but in many cases but there will be a monetary limit to how much is covered. Before you get an insurance plan, you should tally the value of your possessions. Once you do so, look for a plan that best accommodates the value of those possessions.
- Know what’s not covered. To avoid surprises, know what isn’t covered by your plan. For example, some policies don’t cover earthquakes. By knowing what’s not covered you can better find a plan that’s optimal for you.
- Bundle your insurance policies. One of the best ways to save money on your renters insurance is to bundle it with your other insurance policies. For example, if you can bundle your car insurance with your renters policy, it can be very economical.
Have questions about renters insurance? Kelly Williams offers Long Beach, CA residents renters insurance that can keep you protected during an unplanned event. Contact us today to learn about the different plans available to you.