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Rad Renting: Selecting The Right Amount Of Renter's Insurance For Your First Apartment

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Your first apartment on your own is always an exciting event. Inside of your own space, you can live just how you want to without any issues. When you live alone, the safety and security of your belongings will also become your sole responsibility. Making sure that your doors have secure locks is the first step to personal security. The next is getting proper renter's insurance. If you are shopping around for renters coverage before you officially move in, there are a few ways to make sure you select the right amount of coverage: 

Find out if the apartments have a minimum

When you are signing the paperwork to get the keys to your apartment, you may have to sign an addendum that relates to renter's insurance. Some apartments will require renter's insurance of a certain amount to make sure that the building can be fixed in the event of an accident in your unit. Other apartment buildings will not require insurance. Be sure to ask your building or landlord if they require insurance and the minimum amount that you must obtain before looking for your coverage. 

Take count of your belongings

If you are moving into your apartment with the bare minimum amount of items, you may not need a large insurance policy. If you own a lot of luxury items or if you electronics collection is impressive, you may desire a policy with a higher payout. Go through all of your belongings by making a list. For any unique or high price items, you should take clear photographs to show the brand name and the condition. Submit these to your insurance carrier so that you can prove the worth and brand of the item. You may find out that you have more than you though, which will influence the level of renter's coverage that you choose. 

Go high for high-quality living

If you are moving into a new building or inside of a luxury building with a lot of amenities, you will want to up the ante on your insurance policy. Newer buildings or luxury buildings will have a higher premium on the repair of items if they are broken during the duration of your stay. If you happen to get into an accident and chip the granite or if you have a fire and smoke damage is caused to the new cabinets and paint job, you will want your insurance to pay for this rather than having a surprise bill when you move out.