How much renters insurance is adequate for my apartment?

Owning a home in Clovis, NM means having home insurance and renting an apartment means buying renters insurance. Well, understanding that part is easy. What most tenants are always skeptical about is how much renters insurance is adequate to fully cover them and their loved ones. 

What determines how much renters insurance you need?

The answer to that question is not straightforward as there are many determinants such as where you live, your budget, rent amount, and the value of your personal belongings. The General Insurance Agency recommends taking an inventory of all your possessions before buying renters insurance. This will act as proof during the claiming process. If you have valuable or priceless items in your home like jewelry and artwork, you should seriously consider purchasing separate insurance for them.

What do you value most?

If your landlord did not request for your renter’s insurance, it is a good idea to buy one to protect your family and help you have a sound financial plan. Renters insurance is a great way to protect your personal belongings both inside and outside the apartment. It also covers additional living expenses as well as personal liability.

Do the math

Before settling to buy renters insurance, it is prudent that you first factor in your budget, assess where you live, check your lifestyle, and calculate the value of your possessions. This way, you will have a clear view of the amount of coverage you need. You should also consider checking different quotes from different insurance companies to get the best price.

 By now, you understand that renters insurance varies from one individual to another. That means that we all have different priorities, needs, and budgets. Seeking help from an insurance expert from General Insurance Agency is a smart way to begin your insurance journey. Contact us or visit us at Clovis, NM today!