How to Find Cheap Apartment Rental Insurance

If you live in an apartment, you may not think you need insurance or you may think your landlord's policy covers you. Think again!

Your landlord's insurance covers only the building, not your possessions. You need to find cheap apartment rental insurance to protect your belongings.

Apartment rental insurance also covers you if ...

* Your apartment is damaged and you need to temporarily live somewhere else for a while.

* Your property is stolen someplace else, such as if your laptop computer is stolen while you're at the library.

* You damage the landlord's property and have to pay for repairs.

Decide How Much Coverage You Need

Your first step to get cheap apartment rental insurance is to decide how much coverage you need. Make a list of all your personal possessions and estimate how much it would cost to replace them. This will give you an idea of how much coverage you need.

You also need to decide how much of a deductible you can afford to pay. The deductible is the amount you pay on a claim before the insurance company pays. The higher your deductible, the lower your insurance premium. Just make sure you can pay the deductible if you ever need to make a claim.