FRIDAY, MARCH 17, 2017
 If you're moving into a rented home, you are assuming risks for both the rented space and your personal property.
By moving into a rental, you are using a combination of the home and your personal effects to make a house a home. But, the home doesn't belong to you. You only carry a lease to live there. That's why you're facing certain risks living in a home that isn't yours.
For this reason, most owners and landlords require renters to carry renters insurance. These policies can cover risks that a renter poses to the property of the owner. Renters insurance also helps protect the belongings of a renter while they are in that space.
The personal property section of renters insurance allows tenants to value the dollar amount of personal items they have in the home. Personal property coverage can protect belongings from damages from within the property. This coverage often protects you from both unforeseen damages and damages the owner causes.
By valuing your personal property, you can ensure you have enough insurance to protect all of it. Always include the most expensive and irreplaceable items on your policy. These can include:
- Electronic systems, TVs, computers, stereos, gaming consoles.
- Any appliances that you personally own, like microwaves or space heaters.
- Furniture. In particular, large, expensive or antique pieces.
- Cell phones.
- Clothing. In particular, irreplaceable or expensive pieces. Keep in mind, you may not need to value the cost of all your clothing. It may save you money to keep common items like underwear or socks off the valuation.
- Jewelry. If a piece of jewelry is particularly valuable, consider insuring the piece separately.
- Art. In the same vein as jewelry, if a piece is very valuable, you may want to buy a separate policy.
- Expensive commodities, such as china or silver sets.
- Hard-to-replace materials, such as bedding, sheets and towels. However, you may not need to declare all these items. Most homeowners usually have a surplus of these necessities. They may not need to replace all of them. Consider including only the value to replace some of these items.
It is possible to leave some personal property off of your renters insurance. Doing so might save you some money on your policy costs. However, always include the most expensive items in your personal property valuation. If you lose these items in a covered incident, your insurance can cover the replacement costs.
Affordable Insurance Group is here to answer all your questions on valuing your items or getting coverage. Call us at (803) 798-4499 for a Columbia SC renters insurance quote.
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