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jordym84's avatar

What do I need to know about renter's insurance?

Asked by jordym84 (4732 points ) December 14th, 2012

I’m renting my first ever apartment starting this January and I need some wisdom regarding renter’s insurance. Is it always required, just recommended, or does it vary? What are my options in terms of insurance companies? Who offers the best rates and the most protection? What else do I need to know?

Thank you :)

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8 Answers

syz's avatar

Holy cow, here’s a ton of info to wade through.

Skaggfacemutt's avatar

I would pick a company who is well versed in the different types of insurance. I just helped my son get an HO-6 condo policy from Allstate, and I was very impressed with their knowledge and good rates.

sinscriven's avatar

Anywhere i’ve gone i’ve always seen it as a requirement, but it’s a good idea to get regardless.

Start with whomever you have car insurance with because you can get policy discounts. most of the time, i’ve been quoted at 8–12$ a month or something like $120 upfront for a 1b/ba in SoCal.

Most larger insurance companies will offer renters insurance, so start with the big ones. They’re not as complicated as car insurance ones, mostly just how much money’s worth do you want to cover

YARNLADY's avatar

We have found that carrying all our insurance under one company saves money. I would call around for at least three quotes, from Farmer’s, AllState and Geico.

Be sure to go over your policy carefully so you receive all the coverage you think you should. The price varies according to the coverage.

Judi's avatar

As a landlord I require it but don’t require confirmation. If you accidentally catch the place on fire it covers your liability. In addition, it is the only thing that covers your belongings. I would get it for sure.

marinelife's avatar

It varies whether it is required or not. Check the laws for your state.

Most major insurers offer it. You can check their ratings online.

wildpotato's avatar

It has been required in the five places I have rented (in three different states), but I have never had a landlord ask for corfirmation. I didn’t worry about it in college when I had nothing in my place that didn’t come from a thrift store or craigslist and carried my laptop with me 24/7.

jordym84's avatar

Thanks everyone. I checked with my apartment’s management company and they do require it (and even if they didn’t, after having read up on it, I would’ve still gotten it anyway seeing as I’m…err…a bit accident-prone lol).

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