Financially protect the items in your home with Renter’s Insurance, to cover theft, vandalism and fire. Here are a few tips that will help you to choose your insurance policy:
- Note that it will only cover certain personal effects in the home. Major items such as vehicles are excluded and will need a different policy.
- Make a record of your possessions and save receipts for large cost items. Take pictures and video; make the list as detailed as possible, and keep a copy in a safe place, outside the home. This will assist you in the event of a claim.
- Choose the type of policy that suits you best. Some insurers will offer “new for old” arrangements which see your insured goods replaced with new items. Other insurers with lower premiums often replace goods with others of a similar standard.
- Make sure that your policy gives you enough coverage to replace what is insured. A “Cash Value” policy will be cheaper but pays only what your property is worth at the time of loss - your cost minus depreciation for age and wear. You save money initially, but will you be able to replace your items?
- Check for any specialized coverage you might need. Items like computers, cameras, jewellery and antiques might require extra coverage, or you may need to have them listed in the policy when you purchase it.
- Shop around online for a policy that is both adequate and affordable.
It’s likely we’ll have a policy that suits your needs. Why not give the Kramer Insurance Center a call now (800.247.6394) for more information or obtain a free estimate online?
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