Renters insurance is one of the least expensive ways to protect your things. Here is a plain-language overview for anyone moving into a Memphis apartment.
What it usually covers
- Personal property: your furniture, clothes, and electronics if they are damaged or stolen in a covered event
- Liability: help if someone is hurt in your home or you accidentally damage someone else's property
- Additional living expenses: help with a hotel or meals if a covered event makes your home unlivable
What it usually does not cover
Many standard policies exclude flood and earthquake damage, and some limit coverage for expensive items like jewelry. Read the policy and ask your agent.
How to choose
- Make a quick list of what you own and what it would cost to replace.
- Compare replacement cost and actual cash value coverage.
- Pick a deductible you could pay.
- Ask about discounts for bundling with car insurance.
Check your lease
Ask the leasing office whether your lease requires renters insurance and how to show proof of coverage. Hillcrest residents can call (901) 688-9695 with questions.
This post is general information, not insurance advice.