Spring – a time to review and renew
Spring brings with it not only blossoming trees and sunny skies, but also storms. Now is the perfect time to review your policies to make sure you have the adequate coverage, and also to prepare a home inventory.
Call your insurance agent to check if your home and belongings are appropriately covered. Don’t wait until after you suffer a loss to learn what level of protection your policy provides, or to discover you don’t have one at all.
If in the case of homeowners insurance, the most frequent issues appear around policy limits that become outdated; in case of renters, they forego this type of insurance simply because they assume that their landlord’s insurance will cover their belongings as well. Remember that landlords only insure structures, not the possessions the tenants move in with.
Regardless of the property type you choose to rent – be it apartment, condo, or house – take into consideration renters insurance. For an average premium of $30 per month for $20,000- $30,000 of coverage, renters insurance is the most affordable way to keep your belongings safe.
Now is also a good time to review the home inventory. It will help you determine the level of coverage needed, and it will ease up things in case you need to file a claim. To create your home inventory, the easiest way would be to use an app for smartphones. You can find more details about this topic here.
Keep in mind that a standard homeowner and renters insurance policy doesn’t protect your home or belongings from damage caused by floods, earthquakes or sewer and drainage back-ups. Discuss with your agent if you need this additional coverage.