Renter's insurance is important as it protects a person from liability, damage or loss to personal property, and from calamities like hurricanes and floods. Home owner's insurance only covers the property and not the renter's assets or interests.

Residential insurance policies that cover rentals are: HO-4 and HO-6 (covers condos). Details of renter's insurance coverage are available online at websites devoted exclusively to insurance. A renter's policy gives a fixed amount for all possessions in case of disasters or damage.

Here are a few intelligent tips for buying renter's insurance:

1. Be intelligent and look for great coverage online. Many insurance companies offer renter's policies at competitive rates online.

2. Buy renter's insurance from the same company that has insured your car /health. Often insurance companies offer great rates for multiple policies.

3. Use online tools to get quotes from three different insurance companies.

4. Take the option of a higher deductible. And find out all the small clauses like surcharges and so on.

5. Read up on home safety systems and install safety locks and burglar alarms. Safety measures lower insurance risks and can get you lower premiums.

6. When searching for a rental apartment or home think insurance and consider premium reducing aspects like location, existence of smoke and fire alarms, existence of a sprinkler system, and security systems like alarms and connection to local precincts.

7. Consider EFT payments. Many insurance companies offer great discounts for EFT premium payments.

8. Ask about applicable discounts such as the one offered for gated communities and discounts given for seniors and so on. Insurance companies offer different discounts seasonally so keep track of what is applicable when the renters' policy comes up for renewal.

When buying renter's insurance you need to consider: dollar amount of coverage; deductibles; Actual Cash Value or Replacement Cost; location and previous claims; and so on. Find out whether the renter's insurance covers: fire, lightning, theft, smoke, vandalism, natural damage cause by storms, falling objects, freezing, pipe bursts and so on.

Try and include: liability protection; medical claims made by guests; increase in living expenses; loss of property; and more. Always comparison shop but buy a renter's insurance policy from a reputed insurance companies. Make an informed choice by reading up extensively on insurance. In case you posses valuables like electronics, art, jewelry, firearms, silver, or antiques you may need extra coverage.

If in doubt take the help of an insurance consultant. This will ensure that the policy you invest in will actually cover your possessions.

Author's Bio: 

Matthew Pawlina is a writer for Renters Insurance Quotes, the premier website to find renters insurance, apartment renters insurance, renters insurance quotes, home renters insurance, renters insurance online, renters insurance rates, cheap renters insurance and many more.