Protecting Personal Property in a Rental Home

Whenever you reside in a rental home, you should remember that this is not your house. No matter how well you maintain the property, and no matter how settled you are, someone else still owns the home. Therefore, you must protect your own personal property within the property. You can do so with renters insurance.

Every rental property comes with a risk. No matter how long you have been there, you always have a degree of unfamiliarity with the property. Certain responsibilities may still fall to the property owner or leasing agent.

Protecting your personal property in your rental home should be your goal. With renters insurance, you can get personal property coverage that protects items from hazards. Rental insurance usually covers personal property from damages. It can cover hazards related to fires, theft, weather and other unpreventable problems.

However, do all you can to maximize your coverage in the event of personal property losses. Coverage levels, coupled with safety precautions can help you maximize your insurance coverage.

• You have to value your personal property to make sure you get the right insurance levels. Take a complete inventory of all the items you own, right down to your clothing. If you have receipts for your most valuable items, keep these on file to support their value in the event of loss
• Sometimes it helps to leave easily replaceable items off your personal property valuation. Leaving off trivial items might help you save money on your premium. Things like simple dishes may not need replacement. Antique china, on the other hand, may be much more expensive. Include it in your valuation.
• If you own valuable items, like jewelry or art, you often have an option to insure these items separately. Therefore, you can better distribute the insurance coverage from your renters coverage.
• Learn how your home’s internal systems work. Your heat, electricity, and water may all pose risks to your personal belongings. Don’t place sensitive items like space heaters or toasters in places where they might sustain damages.
• Store all your personal items appropriately. Consider a safe or lockbox to store items like electronics, jewelry, and paperwork.
• Always lock your home, and arm the home’s security systems. Only you and the landlord should know how to access the home’s security features.

Protecting your personal property takes a lot of work. Make sure your renters insurance can help you replace any lost or damaged personal property.