Compare These Top Vendors for Renters Insurance

Renters insurance is very similar to homeowners insurance except that it applies to possessions on rental properties.  Renters insurance also applies to businesses that rent their office or retail space and the products or materials housed in their rental space.

Often, if you have any type of existing insurance, such as car insurance, your existing provider can extend your coverage, but shop around to make sure that you're getting the best rental insurance for your needs.  And even if you have insurance, it's a good idea to protect your possessions in every way that you can, such as a fireproof and flood proof safe.

You can make sure that you get the best coverage and the best deals on your renters insurance by considering the following:
1. Get your renters insurance from the same company that insures your vehicle.
2. Get business renters insurance for properties that you rent for office space.
3. Know what types of damage your renters insurance covers.
4. Catalog your possessions or materials housed in the rental space and protect it in case of damages.

Ask your auto insurance provider about extending coverage

Cheap renters insurance is often available from your auto insurance provider if they also offer renters insurance.

Get the right policy if you're a business that rents

Business renters insurance may be right for you if you own a business that rents its retail or office space.

Know your coverage from renters insurance

Depending on your coverage, your renters insurance may or may not cover flood damage, fire, or other natural disasters.

Be proactive in safeguarding your possessions even with renters insurance

To make sure that your possessions stay protected, document all of your possessions with a video or photos, and keep documents in a fireproof safe.

• When documenting your possessions in case of damage or destruction, store the documentation both in hard copy kept in another location and online with a web-based photo storage service to ensure that you can retrieve the documentation when you need it.
• Be aware that renters insurance is a unique type of home insurance in that it does not cover damage to the actual structure of the building. Also, insurance does not cover any damage due to neglect, so speak with your lessor about any concerns you have about the safety or integrity of rental properties.