When moving into your new home, we strongly recommend that you purchase tenant insurance. This coverage:
- covers your personal property such as computer, furniture, clothing, etc.
- provides you with protection against fire and theft, but also against water damage from plumbing problems.
- can also cover you in the event that you are found liable for loss of property because of personal negligence, or for accidental loss or damage of jewelry or other property outside your home.
- Take photographs of valuable items and store these images outside of the apartment in case you need to make an insurance claim. Keep receipts and a list of serial numbers where possible.
- Be aware of items that may be insured to a set maximum. You may want to consider insuring items individually.
- It costs approximately $30 per year to individually insure about $1000 worth of goods (not including the cost of appraisal).
- Make sure you have the contents of your apartment covered for their replacement cost and not a depreciated value.
- Many plans do not cover flooding, or reimburse little for damages due to flooding, so shop around.