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How do you determine what your rental insurance needs are?

Updated: 8/16/2019
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17y ago

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How much personal property do you have? *You want to look at all your personal property (clothing, electronics, kitchware, furniture, etc) basically if its yours you want it insured. Then you want to look at any type of high value items you may have, jewelry, computer and software, gun collection, or maybe coins. An insurance company will ask you if you have any of these, they may also have a minimum amount they write, find that out too. I typically go with at least 15K then go up from there. To help determine how much coverage you need for your possessions you can get free dowloadable software from the Insurance Information Institute at: http://www.iii.org/media/publications/brochures/homeinventory/. For liability coverage don't be penny wise and pound foolish. I would look at a minimum $300,000. The additional cost to raise your coverage from $100,000 to $300,000 is generally about $10/year!

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Q: How do you determine what your rental insurance needs are?
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