The most overlooked type of insurance may be renters insurance.
While your landlord almost certainly insures the building
you live in, it's rare that this insurance covers your possessions
in the event of a fire, much less if those items are stolen.
The other compelling reason to have renters insurance is for
liability coverage--it will protect you if someone gets hurt
on your property.
To get renters insurance, you should begin by tallying the
value of all of your possessions. Add up the value of your
sofa, precious jewels, and other sundries. This will help
you get the right amount of coverage--why insure your possessions
up to $30,000 if you only have $10,000 worth of stuff? You
can use the "renters quick estimate" tool below to help you
estimate the value of your possessions and to get a competitive
quote for prices.
When shopping for renters insurance, look for the cost of
a premium "replacement value coverage." As the name implies,
it means that should something happen to your property, you
will be reimbursed for the replacement value of each item,
rather than its current value which may be much less than
what it costs to actually replace. It will cost a little more,
but it's definitely worth it (for even a relatively small
amount of property).
MsMoney.com has partnered with InsWeb--the leading online
insurance marketplace--to provide you with a free service
that allows you to compare quotes from some of the most trusted
names in insurance. Simply fill out a profile, review your
quotes, and choose the one that's best for you. There's no
sales pressure or hassles using InsWeb--and you may be able
to save money. Get
free quotes now to see if you can save!
Renters Insurance Tools
Quick Estimate - In minutes, you can get a rough
estimate of your yearly renters insurance costs. Then,
you can get a full renters quote.
vs. Own Calculator - Do you know at what point you
should stop writing rent checks and start house hunting?
Our calculator does.