So, you’re moving away from home. Woo hoo! Independence! But the thing is that your parents take care of a lot of things …and one of those things is insurance. Since the house that you lived in was in their capable hands, chances are it’s insured. But what about when you get your own place?
Well, yeah. Duh. You need to have insurance.
Home insurance.
If you’re getting a house, insure that thing! It’s a huge investment and one of the biggest purchases you’ll make in your entire life. Therefore it’s important to make another big purchase: a home insurance policy.
A typical policy helps cover the following:
- Your dwelling.
- Your personal belongings.
- Other structures.
- Additional living expenses.
- Liability insurance.
Make sure to read through the entire policy. Yep – the entire thing. It’s important to know what losses are and are not covered and what conditions there are to the coverage.
Also – ask questions! Questions are your friend.
Renters insurance.
Okay, let’s say you’re moving into an apartment. What kind of coverage do you need?
Renters insurance is an important thing to consider because guess what? Your landlord’s insurance won’t cover your stuff. It only covers the physical structure of the apartment building. So, if your belongings get torched in a fire, you’d be out of luck.
It stinks. We know.
The good news is that renters insurance helps cover your personal property so that you can replace all of your treasures if something happens to them. Things like fire and theft can be covered.
Pro tip: You may be able to choose whether to insure your personal property for its Actual Cash Value or its Replacement Cost. ACV reimburses you for the value of the items at the time of the loss (their depreciated value.) Replacement cost value allows you to replace the lost items at today’s prices.
Now, there’s also a section for liability. That helps you cover claims of bodily injury or property damage if someone gets hurt while visiting you in your apartment. It can help you cover their medical expenses and your legal expenses. That be important because lawsuits are expensive.
Get a home insurance quoteGet quotes.
Get quotes for the coverage you need. Hop on LiveChat, call us, or fill out our quote form.