Your stuff is important. A renters’ insurance policy protects your assets in case of disaster. But what about your high-value collectibles and one-of-a-kind items? How can you be sure you expensive items are fully insured?
The Basics of Renters’ Insurance
In the state of New York, all landlords are required to insure their properties against certain types of damage. The landlord’s policies, however, do not extend to their tenant’s belongings. That means that if a fire or flood damages your things along with the building, you will have to replace your own property.
A renters’ insurance policy covers your items in case of damage or theft. It also covers you are found legally liable for an injury someone sustains while in your apartment.
XL Brokerage Inc. offers renters’ insurance policies that are tailored for those living in the Selden, NY area.
Special Coverage for Special Items
A basic renters’ insurance policy offers a predetermined dollar amount in the event of property loss. That amount might not be enough to cover your special items and valuable collectibles.
For items whose value might exceed your policy limits, collectibles insurance can be added to protect your special things:
- Other rare and valuable items
Do You Need Special Coverage?
Before purchasing collectible coverage, have your items professionally appraised. Knowing the true value will help you decide how much additional coverage you need, if any at all.
Keep in mind that the collectibles market is volatile. What is considered valuable today may be worth almost nothing in a few years.
The experts at XL Brokerage Inc. provide renters in the Selden, NY area with customized renters insurance packages that fit their unique budgets, interests, and lifestyles. We are here to answer any questions you might have about protecting the things you value most.