How much does renters insurance cover?

Your renters insurance coverage amount should be based on the cost to replace all your possessions. Imagine a worst-case scenario in which your apartment building burned down. How much would it cost to buy clothes, furniture, rugs and everything else? That’s your ideal coverage amount.

• Certain items typically have a dollar limit for theft, such as $1,500 for jewelry. Check the policy for limits on specific items.
• You’ll need a police report in order to file a theft claim.
• If you make a theft claim, the insurance check will be reduced by the amount of your deductible.

Expensive art and valuable jewelry are good candidates for scheduled personal property coverage.