I'm an insurance writer for home/renters and auto, and have renters as well.
Does the adjuster need to come verify I have all this crap since I don't have any receipts for anything?
No, with some exceptions to that. For 99% of that stuff is not going to need anybody to inspect it or anything. Now there are some things that will need appraised to verify it for the insured amount. These are going to be special property protection (SPP) items that have a rider that explicitly insures that for x amount and is not factored into the total (an earlier poster said he had $50k insurance, which means that it's $50k+riders). You will pay more for this, and it's generally only done for things like wedding rings and things like that.
Does it cover accidental damage to items? For example, if I slam my TV with my Wii controller, will they cover it?
Depends on the company, how the policy is written, and if you really want to file a claim for it. For example, if a guest accidently throws the remote into the TV then it will usually be covered. You will have to pay your deductible though which is generally $500 (but varies for every policy, lower deductibles mean higher monthly payments), and it could raise your rates. So, is it worth it to file a claim for a $1000 tv when you have to pay $500 and it could affect your future premiums? That's your decision.
FYI renters policies generally cover any personal property that is inside or outside the home. For example, your car gets stolen and you have a laptop and other property in the vehicle. This will require 2 claims be filed, one under auto insurance for your car, and the second under renters for the laptop and other property.
My dog is going to raise the insurance, isn't he? My parrot also attacks on command.
It will depend on the breed of dog for the most part. Generally "more aggressive" breeds (i.e. dogs that are bred to fight traditionally) are going to increase your rates. My dogs didn't increase my rates (an auss shep and white lab), but it depends on your state, the company it's with, and what breeds you have. I doubt the parrot will have any relevance to the policy. When signing up for it, just answer the questions and unless they ask "do you have a parrot that attacks on command?" or something like that then no need to bring it up.
Anyone know? I plan to do it through Geico.
Geico will work. If you have any questions feel free to ask.
What you should do, is take a pen and paper then go room to room writing down any of your expensive items that you would want replaced. Computers, clothes (most people forget to add this in, but most people have at minimum $500 worth of clothes and it's not uncommon for a few grand worth), electronics, kitchen stuff (dishes, pots/pans/etc), furniture (couches, beds, tables, dressers, etc), etc.
Also, ensure you have Replacement cost, not Acutal Cash Value. Replacement cost means they will give you the $ that it cost when you bought it, while ACV means they take the depriciated value of an item. ACV policies will take a $2,000 HDTV you bought 2 years ago and find the current market price for that item and give you that much (maybe $700?). Replacement cost will give you $2,000 for that HDTV.
None of this is meant as legal advice, nor offered as such. This is posted to help understand the way renters insurance works in general. I do not know your specifics, and this isn't any kind of consult or recommendation. Talk to a licensed agent in your city who can help you with specifics in your situation.
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