In the past 10 years, computers have become an integral part of American life. You can keep up with friends online, pay your bills, shop for products, and even use your computer for video chats and real time game playing. It is not surprising that today’s computers have sharper graphics and operate faster, but it might be a surprise if someone asks you how your computer is
protected from theft, because many people neglect that little aspect of the digital life.
Renters Insurance and Personal Property
A renters insurance policy includes coverage for your personal property, but only up to a specified value. By the time you have calculated the value of everything you own, the policy may already be beyond its limits without considering a computer or other digital toys at all. Keep in mind that your personal property includes everything you own, from your wardrobe to the lawnmower. The personal property protection part of the policy is typically lower than the value of the average person’s actual owned property.
Increasing Your Personal Property Insurance
If you are going to rely on your renters insurance policy alone, make sure that you understand the limits written into the policy and increase them as necessary. Increasing the limits of your personal property on your renters insurance policy is a simple matter and will only increase your rates a small amount. Make sure that you include your computer in your home inventory to increase the validity of any future claims you have to file.
Personal Property Riders
The problem with insuring a computer on your renters insurance is that digital devices are evolving rapidly, and the latest model you bought today may need to be replaced as soon as the new operating system is released. Trying to keep your home inventory up to date may be a difficult process, but you could just as easily purchase riders for your existing policy. Instead of your computer being included in the general policy, it would be insured in addition to the existing policy, and you could easily update the details of the rider whenever you needed to, without having to
modify your entire renters insurance coverage.
Shopping for Coverage
Trying to find the best coverage at the most affordable price may be easier if you begin your search online. Use free online renters insurance quote comparisons to narrow down the list of choices, check with a financial rating company to see how your choices stack up, and look for any additional discounts that might give one company a clear edge over the
others. It will take a little time to find the right company, but when you consider that everything your family owns is riding on your choice, it makes sense to take the time needed to choose wisely.