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renters insurance

quakefiend420

quakefiend420

Lifer
ok...i've gotten to the point where i have valuable stuff in my apartment...not just milk crates and a 19" tv/vcr combo 😀 i got to thinking today...what if my place burned to the ground...i would just be out my stuff...

so i checked with the co. that handles my auto ins....and they said i could only be covered up to 1K on electronics and 2.5K on jewelry...i need about 10K for each...the furniture isnt really a big deal...i've got maybe 1K tied up in all that...but my electronics(home theatres, computer network, etc) and jewelry are pretty important...

so i guess my question is...how does this work...do i just videotape everything in my house and get serial numbers? do i get everything appraised? i wouldnt think they would just take me at my word for whatever was in the house...and the policy i was talking to them about today was for 25K...so does that mean if everything burns to the ground they cut me a check for 25K or what?

also since they wont offer me the coverage for i need...who will? anyone got any reccomendations on who i should go with?

what policies do you guys have?

btw i'm 21 and living in a small town in OK...dunno if that changes anything

thx in advance ATOT 😀

:beer: to all the helpful people on here
 
Renter's Insurance is a MUST, period.

Try different companies and see what they say. My ins. company covers me up to the limit on my policy ($40K) no matter what is lost. It's $40K, max, period.

I have a $250 deductible and I have REPLACMENT VALUE insurance. Make sure you get replacement value!! You'll pay more, but it's worth it.

The other kind, which I can't remember what it's called is what you'll get unless you specify. The cheap kind will reimburse you based on depreciation of the items stolen/destroyed/burned. IOW, your $10K worth of HT gear that you bought 3 years ago is now only worth $4K according to them. Ah, no; I don't think so!! 😛

It is foolish to not have Renter's Insurance....and get REplacement Value Ins.!! I pay $35/mo, BTW. Worth every penny, IMO.

 
you ought to be able to get 10-20k total coverage (excluding the jewelry perhaps) for pretty cheap. shop around.

oh, and ask whether they give you the original value of the item or the depreciated value of the item. could make a difference for some electronics (e.g., computers, TVs, stereos).
 
Originally posted by: HomeBrewerDude
Originally posted by: quakefiend420
ok so replacement value basically means a p1 166 i paid 300 bux for 8 years ago..i'll get 300 for it?
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MichaelD is right. Do what he said.
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ok...i'll make sure i get replacement value coverage...how do i prove what i paid for stuff i didnt buy retail...most of my stuff wasnt bought retail...and a lot of it i dont have reciepts for anymore...so what should i do about that?

and will i have to get my jewelry appraised?
 
Good questions...I don't have all the answers. 😱

Jewelery you should go get appraised. With computers that you built (as are all 7 in my house) i guess your ins company has to take your word for it if you can't produce receipts. I think.

/shrug

Might be worth a phone call to your prospective insurer.

I remember asking the CS rep on the phone "What happens if I need to file a claim?" She told me that they have forms I'd fill out and the appraisers would take it from there.

Iv'e never had to use the ins. thankfully!! I do know that I have replacement value coverage so that's a big comfort to me.
 
Originally posted by: quakefiend420
how much does the premium run yearly?

if you dont mind me asking, that is

EDIT: damn...i'm diamond now...w00t for me 😀
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i'm an agent in CA. pm me if you have any questions.
 
Originally posted by: RossMAN
I would recommend reading The basics of renter's insurance

If you have car insurance, ask if they also offer renters insurance? Chances are you will receive a discount for having BOTH products 🙂

It's usually around $10/mo for $25,000 coverage.
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yeah i checked with my car ins co but they will only offer me 1K on electronics and 2.5K on jewelry...i need about 10K for each

thx for the link though! gonna go read it now
 
Originally posted by: espressoman
Amica is hands down the best insurance company. Go with them... and switch your car over to them.

www.amica.com
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well...their site just quoted me 275 a year for renters ins...not too bad...and a small price to pay to ensure my stuff is protected...think i'll call them tomorrow and set it up

thx ATOT!
 
Originally posted by: DaWhim
did you try insured.com? I got a quote for $133ish a month for 15k coverage and $100 deductible
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wow, that sounds crazy.

I asked my car insurance company (American Family) about renter's insurance and they said since I have car insurance through them it would only cost $5/month. But get this, my car insurance would actually DROP because I have two insurance policies (or something..?) under them. Sooo I ended up saving money by getting renter's insurance 😕

Of course, I don't know what the deductible is but hey, I just saved money on my car insurance 😀
 
I just tried progressive, they don't have renter's insurance. I was pissed off at my old one because they have $250 deductible. it is useless consider most of my stuffs worth $200-300.
 
Originally posted by: dartworth
renting is for suckers..🙂
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yeah well...i need to get some debts paid off...then after i get some of that stuff offa my credit report i will be in the market to buy...which will be another couple of years, unfortunatly 🙁
 
i just got renters insurance through state farm - $30,000 coverage and $300,000 liability (my apt wanted this). this is costing me 119 bucks total for a year. $500 deductible.

i got it to mainly protect my tv (50" samsung dlp - i'm gonna brag while it's still new =P)

funny story: they make you list an approx. value of everything in the household.

agent: what is the value of jewellery in the apt?
me: 0 dollars
agent: ok, what about fine furniture?
me: 0
agent: artwork?
me: 0
agent: any fine china or anything?
me: nope
agent: ok, how about computer?
me: 5,000
agent: how about electronics?
me: gimme a second here *calculates in head*
agent: ok, any fancy rugs or clothes?
me: 0 dollars. 10,000 for electronics.
agent: *raises eyebrows*
me: i just spent 2,500 on the tv
agent: *looks at next question* well, you're obviously not married then! once you get married, your wife doesn't allow you to get nice things like that.
 
Originally posted by: MeanMeosh
i just got renters insurance through state farm - $30,000 coverage and $300,000 liability (my apt wanted this). this is costing me 119 bucks total for a year. $500 deductible.

i got it to mainly protect my tv (50" samsung dlp - i'm gonna brag while it's still new =P)

funny story: they make you list an approx. value of everything in the household.
Click to expand...

I've been meaning to take digicam pics of the electronics stuff we own, but that would take weeks as most of it is still brand new in box.
 
not trying to hijack this thread, but how important is your credit rating for renter's insurance?

I have at the most 10k of stuff worth to insure, and wouldn't mind an insane deductible (like $500 or $1k) if the place burned to the ground. Here's the kicker, my credit sucks. ~569 a few months ago, probably creeped up a little since then
 
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