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Is that the monthly premium amount? I would think it would be.
Did they quote you a 'replacement' plan? Meaning that if you had to replace items they would give you the dollar amount at the current value vs. when you took out the plan?
There is some replacement language in the quote I received on the Tenant's insurance plan but I am not sure about the renter's insurance. I just sent an e-mail requesting more details.
I really do not understand your question. Please elaborate.
Would $25,000 replace all of your belongings if there is a fire and all your stuff is burned up? If it will then $25,000 insurance is enough. (you will have to have proof of what you own. You can't buy a million dollars worth of insurance and get a million paid if your stuff all burns, unless you own a million dollars worth of stuff)
About the liability, what do you own? You want liability worth about 4 times the value of what you own. That is to protect you from losing all your belongings in a lawsuit.
I suggest that you have a sit down with your insurance agent. Personally, I would want enough insurance to cover the cost of the house or apartment if I accidentally started a fire that burned the building down. Yes, the LL's insurance covers the building, but his insurance company will come after you if the fire was caused by you leaving the deep fryer on and going to sleep, or dropping a lit cigarette into the sofa cushions.
Check your rental agreement to make sure it doesn't require you to have a specific amount of insurance.
Also, if you have a dog, i suggest you increase the liability. Dog bite lawsuits are really expensive.
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