How to Calculate Coverage for Renter's Insurance
- 1). Compile a home inventory of your belongings including all furniture, appliances, electronic devices, collectibles, jewelery, furs, paintings, guns, and power tools. Don't overlook expensive items such as lawn mowers, vacuum cleaners, and sports equipment.
- 2). Write a description of each item in your inventory and attach a photograph and receipt, if possible. If the item has a serial number, add that to your inventory description. Purchase dates are also important.
- 3). Check every room in your house--including attics, basements, and closets--to identify items that should be included on your home inventory. One way to ensure that no items are missed is to start at one end of your house and work your way through each room, making sure to check every drawer, cabinet, and closet.
- 4). Determine the estimated value of your belongings based on your completed inventory and contact an insurance company that provides renter's insurance for an accurate quote. Many factors go into the final quote, including the location of your home, the presence of fire and burglary alarms, and the year the building was built.
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