Make your changes now
The most important thing you will do is to implement those changes that you have decided to make regarding your insurance coverage. While the earlier steps are certainly necessary, if you don't actually make the changes then you gain nothing.
Go over your notes to make sure that you understand the changes you wish to make, and especially why you wish to make them. If you have an existing policy with an agent, and you are increasing coverage, you probably won't get any objections when you call your agent. However, if you are decreasing your coverage, or changing your type of coverage, you might anticipate that the agent will try and convince you that your current coverage is what you should have. Be firm and don't give up until you get what you want.
If you don't yet have this type of insurance coverage, then you need to begin with gathering price information from different sources. We suggest that you first make a list of all the relevant features or provisions that you want. This will include the amount of property coverage you want, the type of coverage you want (actual or replacement value), and the amount of deductible that you can afford to pay if you need to file a claim.
Next, identify the local companies from which you wish to obtain quotes. Before you actually contact companies, you might also consider talking to family and friends to see what they are paying and what kind of experiences they have had with their chosen insurance company. This is especially true if someone has filed a claim with their insurance company. This will give you a good indicator as to what to expect should you choose that company.
Once you are ready, begin contacting your sources. We suggest that you start with your automobile insurance carrier if you have a vehicle. Getting the policy through them may qualify you for a discount on your new renter's policy as well as your automobile insurance policy. If this doesn't work, you might try any other company that you have insurance with, such as health, life, disability, etc.
Once you have the cost figures, then you need to examine your budget and determine whether or not you can actually afford it. If not, you may have to make some changes regarding the type or amount of coverage that you are seeking, or you need to make some changes in your budget.
Once you have made your decision, then get your new policy. Make sure you review the coverage and it matches all of your needs and that you understand all of its provisions.
As a final step, take your list together with any receipts and your video or pictures and put them in a secure location, preferably outside your home so that you are sure to have them if you need to file a claim.
Step 6 - Get Help If You Need It