purchasing renter insurance how much overall coverage should i purchase, PREZ

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Apr 24, 2012

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Insurance Question from Bammel, TX

Asked on 04/24/2012

purchasing renter insurance how much overall coverage should i purchase, PREZ NULL

Answer given on May 02, 2012

The amount of insurance coverage that a renter should purchase is a personal choice. You should consider the total replacement cost of all of your belongings, including clothes, furniture, bedding, kitchen equipment, linens, electronics. Basically everything that you brought with you when you moved into the apartment. Many renters choose to insure for a much lower amount of coverage than they should, as they presume there will not be a total loss. However, it is more and more apparent as you watch the news of the many of total disasters caused by fires, storms, tornados and hurricanes. By not purchasing enough insurance, you are placing yourself in a possible negative financial situation if there is a total loss, since you would have to replace so much out of your own pocket. Renters insurance is not a very expensive policy, so purchasing higher limits may not be a bad investment, to provide yourself with peace of mind in the event of a tragic loss.


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