A basic Renter-type policy should cost you about $150-200 per year. A basic policy would include a nominal amount of coverage on your personal property ($15,000 or so), cover you for specific named perils such as fire, theft, wind,vandalism,etc. and provide coverage for the additional cost of living in temporary quarters should your building be damaged by an insured peril and become unfit for living. In addition, it would be common for this type of policy to provide a nominal ($100,000) amount of personal liability coverage.
Although not included in most basic policies, I'd suggest "Replacement Cost" coverage be requested. Should your property be damaged, instead of paying you the depreciated value of the property, you could claim the full cost for its repair or replacement. Very important in a serious claim!
Of course, higher limits and additional coverages should be available for an additional charge.
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Although not included in most basic policies, I'd suggest "Replacement Cost" coverage be requested. Should your property be damaged, instead of paying you the depreciated value of the property, you could claim the full cost for its repair or replacement. Very important in a serious claim!
Of course, higher limits and additional coverages should be available for an additional charge.