The hiring was made, you have a key to the apartment and there are literally boxes everywhere. However, the deal you made with your landlord included leasing, which means you need to get renters insurance. Do not panic – it is just a financial safety net for you. 🛡️
Do not be fooled by the fact your landlord will cover your losses with his insurance policy – he won’t! The policy covers the building only. You become the owner of your Macbook Pro and vinyl records. It is crucial to know where you live.
There are two types of insurance in your policy. One of them is personal property coverage and it will cover your belongings if something happens to them. The liability coverage will help in case your doggy attacks a visitor, which will save you from lawsuit and all the losses that come with it.
Make an estimate of your belongings worth during sixty seconds before you start buying insurance online from Lemonade and State Farm. Make a list of your assets and add everything up. Did you know you have way more possessions than you think? Yes, even those sneakers you bought.
Forget the Actual Cash Value coverage and choose replacement cost one. The ACV coverage deducts the depreciation, which means that your four-year-old laptop will be compensated at its current price, which is basically a trash value. It will allow you to buy yourself a new laptop to keep working. It will save you from a lot of problems in the future.
Renters insurance with bundling with auto insurance from Geico or another company will give you discounts on premiums. Be sure to mention your safety features, such as smoke detectors or deadbolts. Also, be sure to check the policy limits, because you might have way less coverage for jewelry.
If you have thousand-dollar guitar, you should better take care of the scheduled personal property endorsement. Yes, reading the clauses in the contract can be boring, but the monthly premium will be literally the price of several cups of coffee per month. ☕
Do not wait until something is stolen and then google insurance policies. Just get your renters insurance done now, to enjoy living in your apartment, knowing that nothing can affect your credit score anymore. Go forth and adult like a champion! ✨