Shopping for renters insurance? Want to know how to get the best renters insurance at the best price? Here's how ...

 

Contrary to popular belief, your landlord's insurance does not cover your personal possessions if they're damaged or stolen, so if you want to protect them you need to get renters insurance. Here's what renters insurance covers:

Personal Property

Renters insurance covers your personal property like furniture, clothing, TVs, and electronic equipment. It pays to replace this property when it's lost or damaged due to fire, theft, vandalism, explosions, wind and water damage (excluding floods).

There are two types of personal property coverage: 1. Cash value coverage which pays the depreciated value of your damaged or stolen property. 2. Replacement cost coverage which pays the full amount of your property. Replacement cost insurance costs a little more than cash value insurance, but it's worth the extra cost to get full coverage.

Renters insurance pays only a limited amount for expensive items like jewelery, furs, collections, etc., so you'll need to need to get additional insurance in the form of a rider to cover these items.

Personal Liability

If someone were to slip and fall in your residence you could be sued and be liable for thousands of dollars in damages. Renters liability insurance pays for claims made against you by another person for bodily injury or property damage.

Best Renters Insurance Price

Insurance prices vary dramatically from one company to the next, so the first thing you need to do is to go to an insurance comparison website. Here you can get quotes from a number of different companies so you can get the best rate.

These sites have you fill out a questionnaire so you can tailor your insurance to your needs. You'll be asked what deductible you prefer and what discounts you want. Get the highest deductible you can afford to pay, and all discounts you're eligible for.

Some insurance comparison websites also offer a chat feature where you can talk online with an insurance expert who will answer all your questions. You can use this feature to find out what discounts are offered so you can take advantage of them. (See link below.)

Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to compare the best renters insurance rates from top-rated companies and see how much you can save. You can get more renters insurance tips by checking out their "Articles" section.

The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on how to get the best renters insurance rates.