{"id":4049,"date":"2019-05-03T17:56:11","date_gmt":"2019-05-03T17:56:11","guid":{"rendered":"https:\/\/veloxinsurance.com\/?p=4049"},"modified":"2023-09-13T23:04:33","modified_gmt":"2023-09-13T23:04:33","slug":"four-things-everyone-needs-to-know-about-renters-insurance","status":"publish","type":"post","link":"https:\/\/veloxinsurance.com\/blog\/four-things-everyone-needs-to-know-about-renters-insurance\/","title":{"rendered":"Four Things Everyone Needs to Know About Renters Insurance"},"content":{"rendered":"

After weeks of searching, you’ve finally found the apartment of your dreams. Everything you’ve ever wanted is inside this glorious space. So, with the help of your friends, you pack up your things and after hours of unloading, you can finally call your new apartment home. But wait! Did you forget something?<\/p>\n

Somewhere between buying new bath towels and picking out new dishes, you forgot renters insurance.<\/p>\n

Here are four things that every renter must know about renters’ insurance.<\/p>\n

It Gives You Off-Premises Coverage<\/strong><\/h3>\n

There\u2019s a lot more to renters insurance than just simply covering the cost for any damaged or stolen items. Renter’s insurance<\/a> gives you coverage for things that are not on your premises. For instance, if someone takes your laptop from your vehicle while you are in the grocery store.<\/p>\n

There is Compensation if You Have to Move<\/strong><\/h3>\n

A lot of policies provide people with extra living expenses should their home become uninhabitable due to vandalism, theft, or damage caused by utilities. While every policy has its limits, this benefit typically includes the cost of your living expenses. In most cases, this coverage is only limited up to 50 percent of your personal property. For example, if you have a net worth of $100,000, your policy would have to give you $30,000 to $50,000, as your policy states.<\/p>\n

Inventory Helps You Determine the Amount of Coverage You Need<\/strong><\/h3>\n

Figuring how much coverage you\u2019ll need can be difficult, especially for those who are getting renter’s insurance for the first time. Before deciding on the amount of coverage you\u2019ll need, it\u2019s essential that you know how much it\u2019s going to cost to replace your belongings. To calculate the cost of replacement, take an inventory check, and run it by your insurance representative. They\u2019ll see to it that you\u2019re fully covered.<\/p>\n

Lowering the Cost of Renters Insurance<\/strong><\/h3>\n

Yes, you read that right. It\u2019s more than possible to reduce your renter’s insurance cost. There are quite a few ways to do so.<\/p>\n

Here\u2019s how you can reduce the cost of renters insurance:<\/p>\n