How to File Renters Insurance Claim? — Complete Information

Making an renters insurance claim for your insurance policy can be simple if you’ve managed to keep track of everything you own. Not having enough documentation may raise an issue in time of filing a claim.

In this blog, we’ll discuss the basic process for claiming for a property loss on your renter’s insurance policy tips, along with some commonly asked questions.

What Does File Renters Insurance Claim?

Personal property, liability, and additional living expenses are the three categories of coverage that are often included in renters insurance. Personal property coverage can cover expenses to replace your items if they’re stolen or damaged by a covered peril.

Also Read: How Much Homeowners Insurance in Chicago Do You Need?

How Do I File Renters Insurance Claims?

It’s crucial to understand how to file renters insurance claims since it is crucial in making a claim. Insureds who get renters insurance policies list their belongings as they pack up to move into a new house, room by room. Here are some pointers to help you with filing renter insurance claims:

• Do an inventory of your home. It will be helpful when you make a renters insurance claim
• Take pictures of each room in your rental as well as of all your belongings.
• Preserve vital documents. Receipts, pictures, registrations, and other crucial papers should all be kept in a safe or fire-resistant container.

Having these documents is incredibly beneficial because claim values are typically based on current actual cash worth or replacement cost, depending on the terms of your policy.

How Filing a Renters Insurance Claim Impacts premium?

When a claim is settled, your renter’s premium may be increased at renewal; but how much will depend on the type of the claim. For example, theft and fire claims, can result in a substantial increase in your premiums.

Continue reading: Is Renters Insurance Required in Chicago?