If you rent your home, a renters insurance policy provides crucial protection, including compensation for damaged personal items and protection against liability claims. However, the limits of the standard policy may not cover the value of your possessions, which many renters only discover when they try to file a claim. The following tips will help ensure you have all the coverage you need without paying for insurance you don’t.

Make a List of Your Possessions

Renters insurance is a customizable policy, so you can choose coverage based on the value of your assets. If you have especially valuable belongings, such as rare pieces of art or jewelry, you may want to choose coverage with higher policy limits to ensure you’re fully protected if you have to file a claim.

The best way to determine how much coverage you need is to make a list of all your possessions, including the age and purchase price of each item. Many renters focus on more expensive items, but don’t forget to factor in pots and pans, clothing, towels, and other household items you might need to replace after a disaster.

Evaluating Your Risk of Liability Claims

Renters insurance includes valuable liability coverage that will also pay for property and injuries resulting from an accident anyone in your household might cause, as well as all your legal fees. The standard policy includes $100,000, which is enough for most families. However, if the value of your assets includes those limits, it may be in your best interests to purchase additional coverage.

As one of Beech Grove, IN’s leading insurance agencies, David R Johnson Insurance has the expertise and products to ensure that you’re protected against the unexpected. With over 30 years’ experience and a wide range of high-quality State Farm® policies, he and his team pride themselves on providing each client with dedicated, personalized attention. To learn more and request a renters insurance quote, visit their website or call (317) 782-8858 today.