☰ ˟
Logo
Make A Payment Client Portal
  • Main Menu
  • About Us
    • About Us
    • Our History
    • Meet the Team
    • Testimonials
  • Practice Areas
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance
      • Cyber Liability Insurance
    • Employee Benefits
    • Life
    • Surety
    • Personal InsuranceImage of right arrow
      • Homeowners Insurance
      • Health Insurance
  • Industry Expertise
    • Athletic Facilities
    • Breweries/Wineries
    • Cannabis
    • Community Associations
    • Construction
    • Franchise Groups
    • Hospitality
    • Law Firms
    • Manufacturing
    • Nonprofits/Faith-Based
    • Real Estate
    • Renewable Energy
    • Retail
    • Renters
  • Services
    • Make a Payment
    • Request A Quote
    • Claims Management
    • Blog
  • Locations
  • Contact
Icon

Personal

We browse through a wide variety of coverages and find the right one for you.

Learn More
Icon

Commercial

We browse through a wide variety of coverages and find the right one for you.

Our Expertise
Icon

Employee Benefits

We browse through a wide variety of coverages and find the right one for you.

Our Specialties
Icon

Surety

We browse through a wide variety of coverages and find the right one for you.

Get a Quote
Home > Blog > How Much Renters Insurance Do You Need?
WEDNESDAY, OCTOBER 26, 2022

How Much Renters Insurance Do You Need?

Renters insurance has two main purposes: to protect your personal belongings from a variety of covered events and to protect guests in the event that they get injured or suffer property damage in your rental unit. Industry professionals recommend purchasing a renters insurance policy with at least $100,000 of liability coverage, but what about property coverage?a screenshot of a cell phone screen with text

To answer that, you first need to determine the overall total value of your belongings. The best way to do this is to take a personal inventory. It can be a tedious process, but it will help you and your independent insurance agent calculate the right amount of necessary coverage—plus, it’s easy to maintain once it’s done the first time. How do you take a personal inventory? Just follow these steps:

1.      Create a spreadsheet, organized by room, with a column for item description, serial number, manufacturer information and dollar value.

2.      Begin documenting everything you would want replaced in the event of a total loss. Fill in as many columns as you can per item and take a photo as well. (Hint: Some people find it easiest to work on one room per day until the inventory is complete.)

3.      Calculate the total dollar value of your belongings by room, and then determine the overall value.

4.      Scan any receipts you’ve saved from high-dollar items, like furniture or a TV. Compile everything into a digital document, save it in multiple places and file a copy with your agent.

5.      Update the inventory each year, or after the purchase of a high-dollar item.

Once you know how much property coverage you need to protect your assets, your agent can search for the most suitable policy that offers both the correct amount of property coverage and an adequate amount of liability coverage. Get started today.

Protect your belongings. Call Lakenan Insurance at 314-721-1500 for more information on St. Louis renters insurance.

Posted 5:27 PM

Tags: renters insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2023
  • 2022
  • 2021
  • 2020

  • insurance(6)
  • coverage(5)
  • life insurance(3)
  • home insurance(3)
  • policy(2)
  • liability(2)
  • workers compensation(2)
  • homeowners(2)
  • health insurance(2)
  • general liability insurance(2)
  • commercial(2)
  • cyber(2)
  • surety bonds(2)
  • homeowners insurance(2)
  • business insurance(2)
  • general(1)
  • renters insurance(1)
  • auto insurance(1)
  • workplace safety(1)
  • vision(1)
  • business(1)
  • pets(1)
  • car insurance claims(1)
  • workers compensation insurance(1)
  • risk(1)
  • employee(1)
  • workers safety(1)
  • hazards(1)
  • benefits(1)
  • workers comp(1)
  • vehicle theft(1)
  • employee benefits(1)
  • fire(1)
  • car insurance(1)
  • commercial insurance(1)
  • workers comp insurance(1)

View Mobile Version

Contact Us Today!
314-721-1500

Social Social Social

Resources

  • Our Products
  • About Us
  • Meet The Team
  • Make A Payment
  • Blog
  • Contact Us

Contact Us

3636 South Geyer Road, Suite 260
St. Louis, MO 63127

P: 314-721-1500 | F: 314-884-2848 | info@lakenan.com
© Copyright. All rights reserved. | Powered by Insurance Website Builder