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Even though apartment insurance is relatively inexpensive, you want to get the best rate you can. Here's how to get a cheap rate with a reliable company. What is apartment insurance? Apartment insurance, also called renters insurance, will pay to replace your personal property if it's stolen, or damaged by vandalism, fire, smoke, lightning, and other causes. It also provides you with personal liability coverage in the event someone is injured while visiting you. Apartment insurance does not cover damage cause by floods or earthquakes, so if you live in a flood or earthquake zone you'll need additional insurance to cover those disasters. How much coverage should I get? The amount of coverage you need depends on how much you own. Go through your apartment and price all of your possessions. The total of everything you own is the amount of personal property coverage you need. As for liability coverage, most people purchase $300,000 worth. If you feel you need more you can purchase an umbrella policy. Where can I get the best rate on apartment insurance? The difference in apartment insurance rates from one company to another can be hundreds of dollars for the same insurance. That's why you should spend a few minutes comparing rates at an insurance comparison website. Comparison sites give you the rates from different insurance companies so you can compare them and choose the best rate. Some of these sites offer a toll-free telephone service and an online chat service so you can talk with an insurance professional and get answers to your questions. (See link below.) How do I know the company I choose is reliable? The easiest way to find out if an insurance company is reliable and will give you good service is to go to your state's department of insurance website and see the ratio of complaints that have been filed against them. If your state doesn't list complaint ratios, you can get them at California's insurance website (insurance.ca.gov) or New York's insurance website (ins.state.ny.us). You can check a company's financial ratings at the A.M. best website (ambest.com). Bottom Line Because apartment insurance is so inexpensive, you should get it before something happens and you're stuck having to replace your possessions, or worse, before you get hit with a liability lawsuit. Visit http://www.LowerRateQuotes.com/renters-insurance.html or click on the following link to get apartment insurance quotes from top-rated companies and see how much you can save. You can get more insurance tips in their Articles section. The author, Brian Stevens, is a former insurance agent and financial consultant who has written a number of articles on apartment insurance.
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