Questions for Renters Insurance Provider
- Will your insurance cover any property shared by your roommates?
- Which items should you take photographs or videotapes of?
- What are the limits on specific categories of personal possessions?
- What optional coverage is available, including for satellite dish and portable cellular communication systems?
- What is the price and protection difference between "replacement cost coverage" and "depreciated cost coverage"?
- How should you value fine-art objects?
- What circumstances are covered in your personal liability?
- What circumstances are covered in the medical coverage for others?
- Will you be notified before any rate increases because of policy changes or inflation?
- If your building were damaged or destroyed, would you be compensated for interim housing?
- How much protection would you have if your home were damaged or destroyed because of an action by yourself or a guest?
- Will your personal liability include defense costs in the case of a lawsuit filed against you?
- What will your off-premises coverage include, for both personal property and medical liability?
- If you're planning to be married, is protection provided or available to cover the value of gifts?
Remember that insurance is about your protection against unforeseeable circumstances. Even if you think "it can't happen here," paying the price of one music CD a month might someday make the difference between an empty house and a replacement-shopping spree.
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