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Rebecca Said:

does renters insurance cover clothes stolen out of a dryer in the park you live in?

We Answered:

Normally, yes, but 1. you have to file a police report and 2. it's subject to your deductible. The value of your clothes might not be over your deductible.

Plus, there could be an issue with the idea of "stolen", as there's an arguement that you abandoned the property in a public place.

Francis Said:

Party at my House, Guitar Stolen, Does Renter's insurance cover this?

We Answered:

Possibly, but you'll have to include your guest list, and prosecute if the police figure out which one of them did it.

Also, it will be subject to your deductible.

Emma Said:

Does Renter's Insurance cover if I just lose an object?

We Answered:

No.

You can't get a policy that will cover all your property for it getting lost.

Renters coverage is a named peril coverage. That means, if the cause of the loss is specifically named in the policy - it is covered. Named perils include - fire, lighting, theft...etc. You loosing an item will not count.

Now, if you have a specific item that is valuable - you can get a "floater" added to your policy to cover that specific item. The floater (aka: endorsed, scheduled) will cover the item getting lost. You usually see this on jewelry. For example, if you have your engagement ring scheduled on your policy (by the floater) - and the stone falls out one day and is gone....your policy will pay to replace the stone.

In order to get the ring scheduled onto the policy, you will have to have it appraised by a jeweler and take the appraisal to your agent.

A watch would be considered a piece of jewelry. If it's a very nice watch - you may want to consider getting it scheduled onto your policy.

I have also seen nice camera's scheduled onto a policy.

Your agent would be able to tell you what type of items qualify to be scheduled onto your policy.

Chris Said:

Does renters insurance cover theft in the apartment?

We Answered:

Well, the standard HO4 policy does include theft. You have an option of excluding theft, and you have the option of a seperate theft deductible in most states.

However, you can ALSO be buying your renters insurance from a higher risk plan, like your state FAIR plan, or a place like foremost insurance. In which case, theft is NOT automatically covered, and when it is, it's in very limited circumstances, and you pay a seperate premium for it.

So you'd have to check with the specific renters policy to be sure, but most of the time, yes. If you think you need to file a claim, be sure to have the police report number first.

Eva Said:

does anyone know if state farm renter insurance covers theft of stuff on you away from home.?

We Answered:

Yes, your renter's policy will cover the theft. However, is it worth it to file a claim? What is your deductible, is it less than $250? Also, be aware that a claim, no matter how small, will probably result in higher premiums. Plus, you now have a claims history which could hinder you if you try to change companies or if you purchase a home and need homeowners insurance.

Debbie Said:

How does renters insurance work?

We Answered:

Be certain your insurance is replacement value NOT current value. A video tape is a good way to document if you leave it in a safety deposit box, your parent's house, or anywhere outside your rental.

Insurance works on average value. If we both make a claim after a disaster for say, lost food in the refrigerator your claim might be for $256 which would be in line with the averages and the insurance wouldn't need documentation. If I claims $3500 in lost food in the refrigerator they would need proof of the loss because this is way out of line.

Clothes, etc need to fall into average ranges or you will be asked for documentation. Also you need to be specific Loss - blue dress doesn't mean much the blue dress you obtained form Monica that had President Clinton's sperm on it carried of whole different value.(also be aware that collector's items may not be covered) So will a designer dresses have more value verses dress barn dresses.