How do I determine how much renters insurance I need?
Thursday, February 2, 2017 at 10:32AM
HensslerFinancial in Insurance Tips

Renters insurance typically provides coverage for losses to your personal property, along with some level of liability protection. Most insurance companies have minimum policy amounts for personal property (e.g., $15,000, $30,000), so if you have relatively few possessions or if you don't own many expensive items, that may just be enough coverage for you. To be sure, though, you should take an inventory of your personal property—things can really add up. Estimate how much it would cost if you had to replace everything you owned in your apartment all at once.

As for liability protection, the standard coverage amount is usually around $100,000. The amount of liability coverage you should have depends on the assets you would like to protect (e.g., car, investments). Call your insurance agent for a quote--you'll be surprised at how inexpensive renters insurance can be.

If you have questions, contact the experts at Henssler Financial:

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