YOU HAVE A LOT OF THINGS THAT ARE IMPORTANT TO YOU – FROM YOUR CLOTHES AND FURNITURE TO YOUR SOUND SYSTEM, SPORTS GEAR, AND COMPUTER. AND YOU WANT TO FEEL CONFIDENT THAT EVERYTHING YOU’VE WORKED FOR IS NOT AT RISK.
WHAT YOU NEED TO KNOW ABOUT RENTERS INSURANCE.
The major difference between renter’s insurance and homeowner’s insurance is that your rental policy does not cover the building or structure. That is the landlord’s responsibility. A rental policy is composed of three basic components:
First, your renters policy covers your personal property against theft or damage.
- The amount that your policy will pay is determined by the limits and deductibles you select.
- The coverage applies even when you are away from home. For a small additional premium, you can choose to carry full value coverage on your personal property, This ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.
- If you have special valuable items such as jewelry, art, antiques or collectibles, ask about our Valuable Articles option. This addition to your policy provides broader coverage and no deductible in the event of a covered loss.
Second, your rental coverage provides liability protection.
- Your renters insurance policy protects you and your family against certain bodily injury and property damage claims for which you are liable. If you select it, legal defense is also provided in the event you are sued after a covered loss.
- In addition, you can select medical payments coverage. This will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault.
- Many people supplement their renters insurance coverage with personal umbrella insurance for broader protection.
Third, your renter’s insurance offers additional living expenses (ALE).
- ALEs are designed to help pay your living expenses if something should happen that makes your rental home uninhabitable. The benefit you receive will be set-up when you choose your policy coverages.
Ask us about discounts for bundling your auto and renter’s insurance policies!
Contact one of our Insurance Ninjas so that we can sit down with you and make sure you are properly covered. Because we are independent insurance agents, we work with multiple companies to compare policies. That way we can get the most competitive rate for you. When we provide coverage, we help you handle claims. You need an Insurance Ninja!