0 HO 4 Insurance - How To Shop For The Best Policy

HO 4 insurance, or renter's insurance policy, is designed to protect the belongings of someone who rents a home.  HO 4 insurance is an often neglected insurance policy, but is important to the financial well-being of those who choose to rent a home, apartment, or other dwelling.  Here are some tips on how to find the right HO 4 insurance policy.

When deciding on a HO 4 insurance policy, you first need to determine how much insurance you need to replace your belongings in the event of a loss. Get a sheet of paper and list all of your belongings room by room.  Beside each item list the amount you paid for each item along with the model number of the piece.  This will serve as a list you can use to show what you have in the event of a loss.

HO 4 insurance policies also include liability coverage, like an HO3 policy, to protect you in the event of a lawsuit.  Standard with the policy is $100,000 of coverage, but amounts up to $500,000 may be available with most policies.

Once you get the replacement cost value of your belongings, it's time to start shopping.  The first step in finding an HO 4 insurance policy would be to go to an online insurance quote site to get premium estimates.  These sites will quote insurance costs from available insurers and will give you a good ballpark estimate of what you will pay.  Don't make the assumption that the lowest premium is the best; take a look at the financial rating of the company to make sure they are stable.  Look for a minimum of an "A" rating from one of the rating services like A.M. Best.

Once you choose the best couple of premium estimates, call a couple of local insurance agents in your area for quotes.  Give them the replacement cost you figured earlier in order to better compare quotes.  Be sure to indicate you want replacement cost coverage on your belongings. 

Shopping for a good HO 4 insurance policy needn't be hard or time consuming.  Do your work ahead of time, get several quotes, check out the companies, and look for a local agent to use if possible.  Being properly insured can help avoid a financial setback in the event of a major loss.