Many renters overlook the fact that the owner's insurance coverage does not protect the replacement value of the renter's belongings or his liability for injury or loss to others that occur in his rented quarters Anyone who rents a house, loft or apartment, whether a student, renting a room off campus, a senior citizen enjoying retirement, or those who are still working, must make sure to take the time to assess their risk of loss of physical possessions, or through legal liability for loss to others

Then they must choose a renter's policy that works for them In preparation for requesting quotes for renter insurance, estimate the value of possessions by making a list of everything that is owned and listing the estimated purchase price, and the date purchased A photographic record would be useful, especially for any items that are of particular value What A Renter's Policy Will Cover While each renter's policy will offer different features and benefits, some of the common coverage includes: • Replacement value of all possessions for loss from fire, theft, or vandalism • Guest Medical Protection if a guest is injured in or around the renter's place

• The renter's expenses if forced to live somewhere else for a while • Liability Protection for renter's legal defense fees and awarded damages • Unauthorized transactions on renter's credit cards • Can save renter from having to pay for costly repairs to rented space There Are Many Ways to Save on Your Renters Insurance Policy: Some of the opportunities to save can be captured by leveraging the following suggestions: • Compare quotes – but be sure the quoted policies provide equivalent coverage • Ask for discounts • Choose to live in a safe neighborhood

• Don't smoke! If a smoker, quit If not a smoker, don't start • Bundle renter's insurance policy with any other insurance policies that may already be in force: auto, life, health • Install safety and security devices including deadbolt locks, smoke detectors, and a fire extinguisher • A good credit score can help

• Seniors' discount – over age 55 • Choose the deductible carefully The most common deductible (the amount the renter's claim must exceed before your insurance company pays) is $500 An increase of the deductible could reduce the renter's policy premium by as much as 30% Balance the savings against the likelihood of loss

• Review and update their policy regularly at least annually, both to see if there are additional discounts available, and to be sure that the policy limit is adequate to cover the renter's current assets Renter's Insurance Is Vital for Protection against Loss and Liability Renters insurance is affordable and easy to find and purchase; therefore, there is no excuse for anyone not to have this vital protection The best possible result would be to have a renter's policy, but, never have occasion to file a claim The peace of mind which the renter will have enjoyed will be well worth the policy's cost