You don't have title rights to a rental home, even though you consider it home. Still, you will have personal possessions inside the residence. You'll need to protect them. How can you do it in a space you don't have full legal rights over? By taking safety steps, you can better protect your own items from rental property risks.
1. Talk To Your Landlord
A good relationship with your property owner can always help. You will, after all, need this person as an ally if something goes wrong.
Ask your landlord about any risks on the property that might damage your belongings. For example, does the property encounter power surges regularly? If so, these surges might damage your electronic devices. If you can make an early investment in a surge protector, you can possibly avoid a problem. It never hurts to ask ahead of time.
2. Carry Renters Insurance
Today, most landlords require renters to carry renters insurance. Most policies include possessions coverage. It can insure your personal belongings against covered losses occurring in the home.
To get the right policy, you'll first need to know the approximate value of your possessions. The closer protection matches the value of your property, the more your coverage can help. Keep in mind, exclusions, deductibles and per-item limits might exist. Factor these costs into the total value of insuring your property.
3. Know What You Have, And What It's Worth
Know exactly the value and ownership status of your possessions. That will help you make any possessions insurance claims a success.
Most people can verify ownership value by taking a few steps.
- Keep receipts for the most important items, such as furniture, electronics and appliances.
- Take photos of your most important belongings. That way, you can verify authenticity if needed.
- Consider having an appraiser verify the value of your most prized items.
Often, specialty items like jewelry will need insurance riders to guarantee coverage. Knowing the value of these items ahead of time can help you better develop your renters package.
4. Take Security Steps
In your rental, your possessions are your responsibility. When protecting them, nothing beats a good security apparatus.
- Keep your most sensitive items, such as hard drives, firearms, financial statements and jewelry, under lock and key.
- Lock your doors, even when at home.
- Know when to put away sensitive items that might entice passers-by.
- If you have a security system, make use of it. You can often even make upgrades with the landlord's approval. You might be able to install doorbell cameras or movement lighting. That'll create a safer space for both tenant and property owner.
The more care you take of your possessions, the less of a hassle you'll face in the event a problem arises in the rental.