In addition to covering your possessions if something happens to them, it also covers you for medical bills and legal expenses if someone gets hurt in your residence and decides to sue you for damages. Click this link for more info
How much coverage do I need?
This depends on the value of your possessions, but most people will be okay with $30,000 to $35,000 worth of coverage, which typically costs around $150 to $250 a year.
How do I get the cheapest home or renters insurance?
There are a number of simple and easy ways you can save money on your renters insurance, including:
- raising your deductible, which can save you up to 25 percent if you raise it from $250 to $1,000
- installing various safety devices such as fire extinguishers and smoke detectors
- installing security features such as a burglar alarm, deadbolt locks on the doors, and locks on the windows