4 Things to Consider when Shopping for Renters Insurance in Orlando
Just because you do not own a home in Orlando does not mean that you have no need for property insurance. If you are renting an apartment, a town home, a condo, or a house, you should consider investing in renter’s insurance to protect your belongings. If you sit down and calculate the value of all of the items you have accumulated over the years, you may be shocked to see just how much you have spent over a period of 5 to 10 years. If you experience a devastating loss, replacing all of your belongings may be virtually impossible without help. Renters policies will provide you the protection you need to have peace of mind in most situations. Here is the information you will need to obtain Orlando renters insurance in a matter of minutes:
The Value of Your Personal Property
The main coverage provided by a renters policy is coverage for your personal belongings. Because you do not own the dwelling, the physical structure of the dwelling is not covered by the insurer. If you want to calculate how much property you have in your home, you cannot reasonably sit down and tally up the value of every plate, CD, and book you own. You have to consider how much expensive equipment, antique items, and other valuable belongings you have. After considering this, you can estimate the value of your furniture, clothing, and kitchenware. If you are not sure where to start, you can look for inventory forms online to help you estimate the value of your belongings.
What Deductible Do You Want?
Now that you know how much coverage you want, you need to select a deductible. The deductible is the amount of money you must pay before filing a claim. If you have a $500 deductible, the claim must be higher than $500 and this amount will be deducted from your claims payment. Make sure you choose a reasonable deductible. The higher the deductible, the less your premium will be.
Personal Liability Limits
Personal liability will protect your wages and your assets if you are sued for damage or injuries by a third-party. The incident can happen on the premises or away from the premises. Most standard Orlando policies come with $100,000 of coverage. If you want more protection, request a quote to raise the limit to $300,000 or $500,000. In today’s litigious times, having personal liability protection is very important.
Riders for Valuable Items
If you have valuable items like jewelry, antiques, and other irreplaceable items, you may need to schedule these items separately. Scheduling items of value generally requires a current appraisal. The insurer will cover the item scheduled up to the limit stated on the appraisal for an additional premium. Review the limits for valuable items on the policy before you decide not to schedule your expensive bikes or your priceless ring.
Now that you know how to request an Orlando renters insurance quote, it is time to start comparing premiums. If you have a vehicle, make sure to take advantage of multiple line discounts for auto insurance and pay less while you get more coverage.