5 Things To Consider When Comparing Renter's Insurance

Written by Posted On Monday, 16 November 2020 08:32

1) Aside from the monthly premium, be sure to compare what is actually covered: What personal property is covered and up to what dollar amount? How much liability coverage is on the policy? 

2) Find out if there are any exclusions for liability coverage? In Tennessee the liability coverage for a renter's policy is an open peril coverage, which is good because it is broad.  Basically, it covers anything not specifically excluded.   Some other states do not have open peril coverage and may only cover certain events or exclude others.  Be sure you know what is covered.

3) Think about the most likely (or most devastating) scenarios for your area that would result in a claim. Tennessee is known for frequent tornadoes and storms.  Having a policy that can help you rebuild in the event of a disaster will help you get back on your feet much faster. Does the insurance cover these events?

4) Don't just look at the cost and the coverage.  Be sure to research the reviews, customer service, and claims process of the companies.  Should you ever need to make a claim, you'll want that process to be smooth and easy.  

5) Just do it.  Some coverage is better than no coverage.  If you do not have renter's insurance you need to get it.  It's usually relatively cheap and will give you peace of mind.

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