Your average renters insurance will be able to cover the cost of your things in case of theft, vandalism or unforeseen events that may include (depending on what your policy covers) fire, wind, rain, explosion, etc. You may also choose to get the things in your car covered (not your car though, since that is for car insurance already) in case of things like flood, theft, etc.
Average Renters Insurance
Average renters insurance also includes personal liability insurance. This will protect you from being legally liable in case someone else gets hurt. If, say, your apartment caught fire and the apartment next to you caught fire too, then you cannot be held liable for the damages as well as injuries caused to that other apartment (and its owner).
So how do you file a claim for average renterís insurance then?
Your Insurance company
First of all, contact your insurance company as soon as possible. This will not only help expedite the process but can also help prevent any further damages. Talking with the insurance company right away will allow you to be able to get authorization for immediate repairs.
You will need to provide your policy details (like your policy number) and your personal details (like your address) to the insurance company. You will also need to provide the details of what happened. Was there fire? Was there a burglar? Did you leave the faucet on and cause a flood? In cases of theft or vandalism, you will also need to file a police report. Even if you donít want that hassle anymore because you think it wonít do you any good, you will need to do it for the sake of your average renters insurance claim.
In filing a claim for average renters insurance, you will need to provide the details of your properties. Even before anything happens, you should keep an inventory of your things and add to your list every time you buy something new. Keeping your receipts would be even better. The details needed would include the brand of the items and their model number or serial numbers (if you have them). If you donít have the receipts, you should at least have an estimate of their value. Having pictures of the items would also be helpful.
The amount to be paid to you for replacement and/ or repair of damages would be calculated by adding up the costs for repairs or adding up the costs for repairs (or both) and subtracting the deductibles indicated on your policy. The deductibles would be paid by you.
Average renters insurance claims would need to be investigated first before you get the payout. This is, of course, for the insurance company to assess how much damage was done, how much everything would cost, etc. As mentioned, having an inventory of all your things and having receipts would really help by making the investigation process faster. If you do keep an inventory and the receipts, donít keep them inside your apartment/ condo. Keep them somewhere safe, like in a safety deposit box.