Connie Phillips Insurance Blog

The last thing you want to do is suffer loss or damage to your personal possessions and then find out that your landlord or landlady's insurance won't cover you. Under usual conditions, the landlord's homeowner's policy will cover for damage to the building and environs, but not to the renter's ‘personal property. For full coverage therefore, it is necessary to take out a Maryland renters insurance policy.

Having decided that taking out renters, also known as tenant's, insurance is a good option, the next question may be: how much coverage do I need? You should buy enough insurance to give you coverage for the loss of your personal possessions. To help evaluate this, the Insurance Information Institute offers free inventory software at Know Your Stuff. Your inventory needs to be detailed, not only including the make and model of items such as televisions but also any identification details included on the set.

Keep a number of copies of the inventory in safe places, on and off site. This way the inventory will not be lost in a catastrophe such as a fire, or lightning strike (if the inventory is kept on your computer's hard drive). Talk to us for more information about Maryland renters insurance, and how to draw up an effective inventory.

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