I have heard of renters insurance, but I am not too familiar with it. What should I know about picking the right policy for my Jacksonville apartment?

Photo of Coventry Park ApartmentsApartments at Coventry Park come furnished. With an apartment like this, you won't have to worry about having any of your personal furniture insured under your policy!

Some Jacksonville apartment communities might require you to buy a renters insurance policy. If you aren't too sure on what exactly a renters insurance policy is or what it covers, you will have a better idea by the time you are done reading this article! Even if your apartment community doesn't require you to have a policy, it's always good to know your options. Unfortunately, if your rental company or landlord has a policy it won't extend to you or your personal belongings, so make sure your covered!

Why have a renters insurance policy?

Unexpected things come up and it seems like at the most inconvenient times too. Renters insurance policies make sure your personal property is covered in these situations. Let's face it there are too many things that are out of our control to not have a back up plan. In the unfortunate event that your Jacksonville apartment gets broken into, how will you get back what has been stolen? Your policy can help replace anything that was taken or damaged. Living in Florida, especially along the coast, can come with its own hazards. Hurricanes and Florida's famous afternoon thunderstorms are something to take into consideration. Having renters insurance helps protect against any damage that was caused by the storm. Another thing to keep in mind is if your apartment is in a flood zone. Renters insurance does not cover flooding. In almost all instances, flood insurance requires a separate policy.

How much does a policy cost?

If your on a budget, you are in luck! Renters insurance policies are pretty affordable. You can get a policy for as little as $15 a month. That's next to nothing compared to how invaluable your personal belongings are. The price of your policy is broken down between three main factors: the deductible, the coverage you select and how much coverage is chosen. Like most insurance policies, the higher your deductible, the lower your policy will be overall. These prices vary from company to company, so make sure to do your research before selecting the right one for you. If your Jacksonville apartment is furnished, you wouldn't have to worry about having any furniture included in your policy. You could insure items such as your laptop, other electronics and other valuable pieces of jewelry or property. Check with your car insurance company to see if they can bundle the two policies to save you some extra money!

What does my policy cover?

Your policy will cover three things: personal property, personal liability and medical expenses. Personal property is pretty straight forward. It includes any personal belongings, such as furniture, electronics or other valuables. Most plans include personal liability, but there are some plans that exclude it, so make sure to read the fine print. If you are in a non-auto related accident and you are held responsible, you will be covered. This could come in handy in case one of those pesky unexpected situations arises. Say a friend comes over and slips and falls or takes a tumble down your stairs, you will be covered in both situations. In the event that no party was faulted for the accident, medical expenses will be covered. Still have questions or want to learn more about renters insurance for your Jacksonville apartment? Check out this link!

These are the opinions of writers and not the opinions of RentJax.com or any of our advertising partners.