Insurance for the things you own is not limited to people that own their own homes. In fact, it is a good idea to insure your belongings if you rent a property because you have no idea whether the property insurance covers the things in the apartment or house if there is a fire or other disaster. 

Get Renters Insurance

Policies are available from most major insurance companies that allow you to cover the items you own while they are in a rental property. The coverage is a lot like homeowner's insurance, but it does not cover the building at all. 

Renters insurance has been around for many years, and buying a policy is simple. All you need to do is contact the insurance company, and they can help you get started. 

Determine the Value of Your Things

When you are looking into getting renters insurance, it is good to have some idea what the replacement cost of the things you own is. If the house burned down and you had to replace everything in it, the cost to replace it and your items in today's economy is going to determine the amount of insurance you need to buy. 

If your items would cost $10,000 to replace, then you need a plan that would pay that amount in the event of a total loss of your property. Keep in mind that it is often up to you to supply the list of lost items to the insurance company. If you lost a TV and some furniture but the rest of what you own was not affected, the insurance company is not going to pay you the full amount of the policy. 

Inventory Your Items

It is a good idea to go through your home and make a physical inventory of everything in the house so that you have a record of the items in the event of a fire, a flood, or another disaster. Take a picture of the item and write down the serial number, the model number, and any specific details that are relevant to the item when you are doing your inventory. 

Once your list is complete, put the pictures on a hard drive or SD card and put them, along with the list of item, in a safe deposit box or some other secure, off-site location so they are available if you need them but are not affected by the event that damages the home. 

When it is time to settle the claim, you have all the information about your personal items available for the insurance company, and processing the claim will go smoother. Contact companies like Woodmansee Insurance Inc to get more information.