How does renters insurance work? If you get robbed and then you fill a report with your insurance, how does it work if you say they took something but don't have receipt because it was either a present or you bought it a long time ago. what happens then?
a lot depends on the company. some companies require receipts, pictures, or something to prove you owned it. if you ever do get robbed, be SURE to call the police asap and have a report done to give to your adjuster. the insurance company will pay you depreciated value up front and once you provide receipts showing you replaced the item, they will pay the difference to replacement value. for example you claim you owned a laptop you got 2 yrs ago, they may pay you $500 (whatever it was worth at the time it was taken) minus your deductible, and then once you buy a new one of same like and kind and you paid $1000 for it new, they will send you difference.
Yes, insurance would cover it.
If you're considering covering your property, it would be good to record serial numbers or take photographs of the items for documentation.
If something was bought "a long time ago," it probably wouldn't be worth much, and you may not wish to file a claim for it, since you'll (a) have a deductible and (b) it will raise your premium.
They would try to figure out the cost to replace it. Generally they have an estimate of what all your things are worth so if they get stolen, then that is the value you receive.
How does renters insurance work?
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LMFAO!!! A psycho is a woman who keeps serial numbers of condoms at home to make sure they're not used in her absence.
I know all about renters insurance too. I lived in a friend's house and was renting. I had renters insurance (it was really cheap). It was right before Christmas and the place caught on fire. Our stuff was ruined. His insurance only covered his belongings and I was ok too, since my renters insurance covered mine. I will NEVER rent anywhere without having renters insurance. I recommend to everyone-Get renters insurance. It costs way less than you think and it pays to have it!!!
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