What Every Renter Should Know About Insuring Personal Valuables

Necessity of Protecting Personal Possessions

Misplacing personal belongings can be heartbreaking, especially when they are valuable and difficult to replace. Fortunately, the right insurance policy can cushion the blow by providing compensation in such situations.

Renter’s Insurance Policy

Renter’s insurance comes to the rescue when you encounter theft or your personal property is damaged or destroyed by a fire or natural catastrophe. Regularly review your plan to understand what’s covered and the compensation you’d receive in the event of a setback. Dispatch any presumption: unless specifically included in your policy, the event won’t be covered.

Scheduled Personal Property Insurance

Consider securing a scheduled personal property insurance if you possess significant assets, like jewelry or heirlooms. Under this policy category, insurance companies will first appraise your items, assuring full compensation if they are lost, damaged, or stolen.

Umbrella Coverage

Umbrella insurance steps in when there are gaps in your coverage. For instance, if your renter’s insurance policy falls short of covering the replacement cost of a particular item, umbrella insurance can make up the difference. Even if your valuables incur damage due to situations not covered by your scheduled personal property insurance, your umbrella policy can step in and provide compensation.

Connect with Cary-Wheeler & Associates Inc. for Personal Property Insurance

With over four decades of service to renters in Richmond, VA, Cary-Wheeler & Associates Inc. focuses on helping you find the right insurance policies that match your needs and budget. If you’re renting a property and are concerned about your personal possession coverage, don’t hesitate to touch base with us for available policy options or a quote.

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