Factors to Consider When Buying Renters Insurance

Not every renters insurance policy is the same. As such, you need to consider certain factors to help you find the policy that best suits your needs. Here at Neff & Associates Insurance Services Inc, serving the greater Pismo Beach, CA area, we are committed to helping everyone find the right insurance policy. Here are three of the factors we recommend you consider as you look to buy renters insurance. 

The Events the Policy Covers

One of the first factors to consider when you are looking to buy renters insurance is what events the policy covers. Different policies cover or exclude different events, including theft, fire damage and flood damage. Always make sure you understand what events are covered under your policy and which are excluded from your policy. 

The Fair Market Value of Your Belongings

The next factor you need to consider when buying a renters insurance policy is what the fair market value of your belongings are. Go around your home and make a list of everything you own, including clothing, electronics, dishes and furniture. Then figure out fair market value. Make sure your renters insurance policy covers the minimum value of your belongings. 

The Cost of an Emergency Rental in Your Area

Lastly, take the time to find out how much it would cost you to have to get a rental similar to yours for up to three months. Renters insurance will provide you with temporary rent coverage if you are forced to relocate while repairs are being made or due to unsafe living conditions. Always make sure the value that is offered in temporary rent provides you with enough money to live based on the rental market in your area. 

Finding the right renters insurance policy for you in the Pismo Beach CA area can be overwhelming. At Neff & Associated Insurance Services Inc, we can help make the process easier. Contact us today and let us guide you toward the policy that best meets your needs.