If You Rent...You Need Renters Insurance!
Anyone who owns a home, most certainly has a Homeowners Insurance policy. Part of the reason is the mortgagee requires it. Although, as a renter, you don't own the home you live in, you certainly own the things in it.
Remember, while your landlord might have insurance, it only protects the building. Your belongings...are not covered under those policies. Moreover, your landlord is not obligated to house you elsewhere if your rental unit is uninhabitable after a loss. You're on your own.
Don't risk losing everything, or being homeless when Renters Insurance is so affordable.
With renters insurance, you will be able to replace what is damaged or stolen.
Whether it's your first time living out on your own, or you've rented for years; you begin to accumulate quite a bit. Furniture, pots and pans, clothing, children's toys...the list goes on and on. If they are damaged or destroyed in a loss; what would you do? How would you replace it all? Especially, on short notice? Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing.
We recommend insuring these items on a "Replacement Cost" basis. It's simply not good enough to get what your belongings are worth. This isn't a garage sale. You need new clothes...new furniture...new bedding. And you need them now. Make sure you have enough coverage to do just that. For more information on "Replacement Cost", Click Here.
Renters insurance will provide additional living expenses if you are forced out of your home because of a covered loss.
Where would you go if your apartment was damaged by a fire? Where would you sleep that night...or the next night? How would you put a roof over your family's heads? Renters Insurance doesn't just cover your belongings. It also pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Keep in mind, coverage for additional living expenses differs from company to company. Check with us for more details.
Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.
Decide How Much Insurance You Need.
Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.
Remember: your estimate should be based on Replacement Cost, not the actual value of your belongings. Make sure you have enough insurance to go to furniture stores, home goods stores, clothing stores and even grocery stores to replace everything you lost in a covered loss (new for old}, so you can get your life back as quickly as possible.
Have questions? Give us a call...we're here to help!