When To Make A Renters Insurance Claim Renter’s insurance very similar to homeowner’s insurance. The only major difference is that it to protects tenants of a property owned by someone else. If the property you own is destroyed, you get coverage to replace said property. You may feel that your old couch and outdates television are not worth very much, but if you add up the value of everything you have like clothing, other furniture, electronic devices, etc., it is probably worth at least a few thousand dollars. However, even if the total value of your personal property is only in the hundreds of dollars, having a renter’s insurance policy could still be very beneficial. It may only cost you $500 to replace your television, but your personal liability really has no limits. Theoretically, a guest in your rental house or apartment could trip on your coffee table, fall and sue you for $100,000. If you have a renter’s insurance policy, your insurance company will help cover at least some of your costs. Another great benefit of renters insurance is that you don’t have the responsibility of collecting money from someone else if they cause the damage to the apartment or home that your renting. Let’s say your apartment flooded after your upstairs neighbor left the bathtub running. Legally, he is responsible for the losses you incurred, but that does not mean he will be willing to pay you (similar to an accident with an uninsured motorist). If you do not have renters insurance, you may have to hound him to pony up. However, if you do have renters insurance, all you have to do is file a claim with your insurance company. They will cover the damages as outline in your policy, then go after your neighbor for reimbursement of those funds.

What To Do When Disaster Strikes Let’s say you do have a renter’s insurance policy. What do you do when an incident occurs (like a flood or fire). The first thing to do is contact your insurance company. Some have an after hours number to call, or some might encourage you to call your agent directly. If it’s applicable, you should involve the police. This is especially important in the case of theft or vandalism. The next step is easy, especially because we all seem to have smartphones. Take photos and video of the damage and losses. This will be great evidence to have for the

insurance company. Read over your policy so you make sure you understand what your rights are and what you are entitled to. This next step takes a little time, but is worth it: itemize your property. Go through all of your damaged property and properly document it. If you have receipts for items, gather them up as well. The key is to be as detailed and knowledgeable as possible to ensure the process goes as smoothly as possible. CNC Insurance offers all types of insurance. If you are in the Frisco area and need renter’s insurance or any other type of policy, give us a call today.