If you own a home, you know how important it is to insure. Renters, though, often skip renters insurance. A commonly held belief is that it is unnecessary since the landlord already has insurance for the building. The reality is that your landlord\u2019s policy won\u2019t cover any of your possessions. For that, you need renters insurance coverage. So exactly what does renters insurance cover?<\/p>\n
A renters insurance (sometimes called apartment insurance) policy is intended to cover loss or damage to a tenant\u2019s personal property. As a renter, you might not think you have enough to be worth insuring, but if you start adding up the value of the things you own, you\u2019d probably be surprised. You\u2019ve probably accumulated a lot more possessions than you realize. Think about what all of these things cost you:<\/p>\n
As you start looking around your home or apartment, you\u2019ll probably notice a lot more. Can you afford to lose all of it? This is a big reason to have rental insurance.<\/p>\n
Another important reason is personal liability. If you ever have a guest who is injured, you could be sued \u2013 the personal liability component of your renter insurance is there for exactly this situation. It can also help with medical payments for the injured person. In addition, you\u2019ll be covered when you\u2019re away from home, so if you happen to damage someone else\u2019s personal property, your policy is there to help pay to fix or replace it.<\/p>\n
Finally, there\u2019s living expenses. If something happens that\u2019s covered under your policy that makes your home uninhabitable, your renters insurance helps you pay for a place to live while your apartment is being fixed.<\/p>\n
Every policy will specify what events will be covered. These events are called \u201cnamed perils\u201d and can include a number of things. As you shop for policies, be sure that you are comparing equivalent coverage. Some of the named perils you might see include:<\/p>\n
Of course there could be many others in your policy. If there are specific perils that are of concern for you, look for policies that include them.<\/p>\n
Depending on the survey you read, the average renter has between $20,000 and $30,000 worth of possessions. You might have more, you might have less; the only way to know is to add it all up. It\u2019s going to take time, but fortunately it doesn\u2019t have to be done often. Start by going around the house with a camera, photographing or videoing everything. Take shots of whole rooms, and close-ups of the various items. Then you\u2019ll list everything out on paper.<\/p>\n
Once you\u2019ve got an inventory of your possessions, you\u2019ll need to determine the value. You won\u2019t be able to get an accurate renters insurance quote without knowing the value of what you have, so take your list and start shopping online. Get prices for items that are equivalent to what you have, or at least as close as possible. Don\u2019t skip the clothes, either, as those costs add up quickly.<\/p>\n
If you own anything that\u2019s really valuable, you might need additional coverage for those items. Most policies limit how much they will pay for jewelry or art, but you can get a rider to cover those things.<\/p>\n
As with anything, when shopping for renters insurance, cost is always a concern. Most people are pleasantly surprised to learn how cheap renters insurance can be, averaging about $20 per month. Of course the cost will vary with the amount of coverage and the amount of your deductible, as well as where you live. Of course rates vary by company, too, so shop around and you should be able to find a policy that\u2019s right for you, at an affordable price.<\/p>\n
There\u2019s little good reason to be without renters insurance. Knowing what it is and what it covers, you have the information you need to find the right policy for you.<\/p>\n
Requesting a renters insurance quote from USAgencies is fast and easy. Enter your information in the form at the top of the page to request a renters insurance quote online or give us a call at 800-958-8545<\/strong> to speak to one of our friendly, knowledgable insurance advisors who can help you choose the policy that’s right for you.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" If you own a home, you know how important it is to insure. Renters, though, often skip renters insurance. A commonly held belief is that it is unnecessary since the landlord already has insurance for the building. The reality is that your landlord\u2019s policy won\u2019t cover any of your possessions. For that, you need renters […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-2961","post","type-post","status-publish","format-standard","hentry","category-renters-insurance"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/posts\/2961"}],"collection":[{"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/comments?post=2961"}],"version-history":[{"count":1,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/posts\/2961\/revisions"}],"predecessor-version":[{"id":3186,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/posts\/2961\/revisions\/3186"}],"wp:attachment":[{"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/media?parent=2961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/categories?post=2961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.usagencies.com\/blog\/wp-json\/wp\/v2\/tags?post=2961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}