Getting renter's insurance and paying it off as you would your car insurance is the responsible thing to do. Renter's insurance covers you in the event that something bad is to happen to the home that you live in. If your home experiences a break-in, things that are taken or damaged during the incident will be covered. You will also be covered in accidents such as fires or natural disasters. Here are three items that most people are unaware may be covered by your renter's insurance:
Stolen cellular phones
If you do not have insurance on your phone through the manufacturer or through your phone service company, you can often claim a stolen phone through your renter's insurance. One thing to remember is that your renter's insurance will require the payment of a deductible. If you plan to have your phone covered under you renter's insurance, you should set the deductible as low as possible. This way, if your phone is stolen, you will not owe more than the price of the phone in order to get a new device.
If you are moving to a small apartment in the city, having a storage unit for the rest of your items can actually save money. If you intend to purchase a home in the future or if you need to store items for your job, you will need to get a storage unit. Typically, your renter's insurance will cover your storage unit. Depending on the size of your storage unit and the items inside, you may save money by covering the unit under your renter's insurance rather than getting coverage through the storage facility. Be sure to specifically note the storage unit in your renter's insurance so that there is no confusion if you need to make a claim later.
Though you may think of your pup or kitty as a family member, many renter's insurance policies can list them under personal property. This way renter's insurance can cover damages that your pet causes. If your dog causes damage by chewing up a rug, this can be covered under your liability policy if you need to make a damage claim. If your pet bites someone, either offensively or defensively, any care that the person might need due to the bite may be covered under renters insurance as well. In order to make sure that you can make a claim on pet damage, you must list your pet on the policy as soon as you acquire the pet or at the beginning of your renter's cover.