What is Renters Insurance?
Do I really need Renters insurance? The answer is absolutely "YES!" – things happen when least expected, this is simply part of life.
Your laptop gets stolen, someone slips and falls when hosting a get together, a fire causes damage to your apartment and you need a place to stay until repairs are made; each of these items would cause you financial hardship and Renters Insurance is designed to alleviate the pain.
We do the work for you. In a few steps, you’ll have the best rate and will be able to get immediate coverage including the ability to list your Landlord.
Renters Insurance is designed to protect renters living in an Apartment, Condo, Co-Op, House or Townhome.
Renters Insurance seems to be more commonly contractually required by Landlords in larger towns and cities around the country.
Renters Insurance is usually offered as a package policy inclusive of Personal Property (personal belongings), Personal Liability and Additional Living Expenses.
It is important to understand what Renters Insurance covers and the level of protection it offers before determining the best renters insurance coverage to purchase.
Renters Insurance policies are one of your many ways of caring for your home and loved ones. Offering renters insurance that you can depend on is the name of our game.
The following are the 3 primary coverage items on a renters package policy:
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Renters Insurance offers protection for your Clothing, Furniture, Electronics, Jewelry, Computer & Musical and/or Sporting Equipment. The policy will state exactly what the covered perils are; these are also known as causes of loss.
Some renters think that they don’t need insurance at all, perhaps thinking that the Landlord has them covered. Tenants’ personal belongings and liability exposure are not covered by the Landlord’s Fire Insurance policy. Get your FREE Renters Insurance Quote now!
The amount which is deducted from the pay out for each claim. A higher deductible will result in a lower premium and a lower deductible will result in a higher premium when shopping for insurance.
Although some Renters Insurance companies will allow you to add a non-related person to your policy, it is recommended for each unrelated individual to buy their own policy.
If you add someone to your policy, you are also going to add the value of their personal property; if a claim is filed, it would be best not to have an unrelated person’s issues on your national claim record which is saved for 5 years.
Renters Insurance policies typically have a very low limit for jewelry coverage; it is usually listed as a sub-limit of the Personal Property limit.
If you have valuable jewelry and need a higher limit than that listed on your policy, it is best to inquire to find out if an endorsement to increase the jewelry limit is available.
Renters Insurance provides coverage to defend you against claims made against you; commonly known as Personal Liability coverage.
If someone is injured on your rented premises and brings suit against you, you may well likely have coverage. There are some exclusions; however, slip and falls or dog bites are the most common claims filed.