by 3 hours ago
ANSWERS: 4
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I'm no insurance agent, but it would depend on what kind of property you own--if you have a bunch of dorm room furniture worth $200 then you don't need much coverage, however if you have a bunch of Renoirs, Monets, digital cameras, Ipods, multiple computers you would need lots more. I think they use the terms usual, reasonable and customary to apply to the policy. Hope this helps.
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I am assuming it would be like other insurances; it will depend on where you live and what you want to include with the insurance (some don't include certain types of damages without extra costs).
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I don't think renter's insurance costs a lot...I knew a few people who only paid something like $50 a month for it.
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5-2-09 I bought a $50,000 renter's insurance policy (for an apartment) today for $199 for a year. It has a $250 deductible and covers the REPLACEMENT (not depreciated value) of my personal belongings. It also allows me $10,000 limit for a hotel room/extended stay and expenses if I get burned out. It did not include flood insurance (but I live on the third floor--if the water gets that high, I have bigger worries).
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