image of man about to break into houseWhen someone enters your home without permission, it is a frightening experience. It violates your sense of safety. It positions you to feel like a victim.

However, many people often experience much more than this. The thief may have created damage throughout the home. The individual took some of your belongings. In an apartment setting, this can be worrisome. How can you overcome this financial violation? Your renters insurance can help you.

Covering Lost Items

Renters insurance often provides payment to you for many unforeseen losses. It will usually cover the value of the items stolen up to the value listed on the policy. The policy will have a maximum claim amount. It usually will also have a per item maximum amount. That's the most it will pay for any individual item.

You will need to show any documentation you have of owning the items. You also may need to demonstrate their value. Some policies offer replacement coverage. This means the insurer pays enough to replace the item stolen at today's costs. Actual value pays for the value of the item at the time of the theft.

Covering Damage to Your Home

Most renters insurance policies will provide coverage for all of your losses. However, these policies have limits. They usually do not pay for damage to the structure of the property. They may not cover damage to carpeting, wall, or windows, for example. This may be the responsibility of the property owner. The property owner should have coverage to pay for his or her losses when a break-in occurs as well. Work with your property manager to learn of this requirement.

What to Do After a Break In

After a break-in, call the police. File a police report. Document everything that is missing. Document all types of damage to the location. Then, contact your renters insurance agent. Using photos and other records you have, file a claim. Make sure you have receipts and proof of value and ownership on hand. The agent will likely visit the location. He or she will determine how much the policy will provide to you. Be sure to include any damage you are responsible for to the apartment as well.

Renters insurance is there to help you after a break in occurs. Work closely with your agent to ensure you file an accurate and thorough claim. This will help you to replace items and make repairs as necessary. You may even want to invest in better security.

Also check out tips on how to save on renters insurance.

Posted 1:06 PM

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