If you rent an apartment in Flowood, MS, your landlord will likely ask you to buy renters insurance. You may probably be wondering why the landlord doesn’t cover your apartment as part of protecting their investment. The truth is, your landlord already has a policy protecting the whole building, including the walls, floor, and other parts of the building.
That means you’re responsible for what happens in your personal space, particularly personal belongings. Now, if your landlord wants you to have renters insurance, the policy is meant to cover your rented space. So, if it’s your first time buying the policy, here are three questions to ask yourself before settling on a renter’s insurance policy.
What is covered in my renter’s insurance?
This is often one of the most critical questions to ask as it helps you determine how much insurance to get. In most cases, renters insurance covers your personal belongings and additional living expenses if your apartment is rendered unlivable.
How much renters insurance should I get?
The amount of renters insurance to buy heavily depends on your needs. The value of your property renters insurance covers things inside and outside the home, such as a work laptop that you could leave in your car or your office. Insurance Protection Specialists recommend enquiring about different coverages in your renter’s insurance to understand your needs.
Should I take inventory of my personal belongings?
Yes. You don’t want to have trouble providing evidence that you own a specific item to your Flowood, MS insurer. Taking inventory is quite critical in determining the value and year of purchase for easier follow-up in case of damage. We recommend taking your inventory a few days or weeks before the policy purchase and updating the list every time you bring in a new item.
We can help
At Insurance Protection Specialists, we can help you understand your policy better so you can make informed decisions when buying renters insurance. If you have any questions or need further clarifications, feel free to contact our team, and we will be happy to get back to you.