Is My Roommate Covered By My Renters Insurance Policy?

Renters insurance policies are in place to help protect what you own from risks such as theft, vandalism or fire. Such policies can be very important for those who are in a fire or suffer significant storm damage. If you've gone through such a loss, your first step should be to file a claim on your renters insurance for the items you've lost. In some cases, though, your insurance company may ask for proof of loss for such a claim.

What is Proof of Loss?

If your belongings are stolen or lost as a result of a covered event, your insurer may first request a list of those items. You'll need to list each item and estimate the value of each item based on the terms in your insurance policy.

In some cases, the insurance company may also ask for proof that you owned or lost the item. This may be some evidence of the existence of the item, such as a picture or the damaged item itself. In other cases, they may ask for a receipt or some invoice that shows that you purchased and own the item. If you have any type of document showing the item's ownership and its value, be sure to present those to the insurance company when filing a claim.

If you do not have such a document, the insurer may be within its rights to deny your claim. That is why it is so important for you to have a home inventory conducted prior to such an event happening. An electronic inventory is one of the best options. It should hold your information about what you own, the value of the items and even a photo of them. It may take a few days to create such a document, but it can be invaluable when it comes to filing a claim.

When you've struggled with a significant loss, do not hesitate to work with your insurance agent to file a claim even if you do not have documentation. In many cases, this is less important than getting the support you need in such a tough time.

Get the right coverage today. Call ISG Insurance for more information on renters insurance

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