If you rent an apartment or home, a mishap can still cost you money or make you a target of a lawsuit. Protect yourself and your personal belongings with renters insurance.
Why do I need renter’s insurance?
When it comes to your clothing, jewelry, furniture, TV and other personal belongings renting an apartment or house is no different than owning a home, you could still face the cost of repairing or replacing these items because of fire, theft, wind and other hazards. As a renter your exposure to lawsuits isn’t that much different from a homeowner. You could still be held legally responsible for an accident, whether it happens at your residence or elsewhere. Your renter’s policy will cover your furniture, clothing and other personal belongings subject to the policy deductible. It also provides liability coverage should be held responsible for an accident.
How much renter’s insurance do I need?
To determine the amount of coverage needed, take inventory of your belongings and figure the cost to replace your items at today’s prices.
How much does renter’s insurance cost?
Renter’s insurance is fairly inexpensive when compared to the cost of replacing your personal property should a loss occur. The average policy is $125 to $150 annually for a basic policy. Replacing all of your personal belongings could cost you thousands of dollars. Keep in mind: Some types of personal property have a special limit of coverage within the policy. Such as the following:
- Silver Money
- Coin Collections
- Bank Notes
- Business Property
Please be sure to mention if you own any of the above items to make you have adequate coverage to replace your personal property should you have a loss. Contact our agency for a quote.
A package type of insurance that includes coverage similar to a homeowners policy to cover the personal property of a renter or tenant in a building.