What Add-Ons Should I Get for Renters Insurance?
Understanding renters insurance add-ons
Renters insurance coverage is designed for those renting an apartment or home. A renters policy can help replace stolen or damaged personal property and provide liability coverage for legal defense should you be sued for bodily injury or property damage to another person.
Add-ons, also known as endorsements or riders, enable policyholders to increase their coverage limits and protect valuable items, such as laptops and other personal property.
Essential renters insurance add-ons
- Scheduled Personal Property
- Broadens protection for jewelry, fur, and/or silverware (no deductible applies). It may require an updated appraisal, photos, and a copy of the original receipt for each item.
- Identity Theft Protection
- It can help cover expenses incurred as a result of identity fraud.
- Credit Card, Fund Transfer Card, Forgery, and Counterfeit Money Coverage
- Increases your renters policy coverage limit if you experience a loss due to fraudulent use of your credit card, a forged check, or counterfeit money.
- Personal Property Increased Special Limits of Liability
- Increases coverage on certain personal property categories, including money, securities, jewelry, watches, furs, firearms, and silverware.
Conclusion
If you rent a condo, apartment, or home, insurance add-ons can increase the dollar limit or extend coverage to personal items not fully covered by your basic policy.