Renter’s Insurance – Why do I need it?

 

Many people don’t realize that renter’s insurance covers so much more than just your personal property. You get liability protection up to $500,000, loss of use, medical payments for others, established home insurance history and coverage for your personal property.

 

• Personal property is covered for the same losses as a homeowner’s policy. Fire, theft, wind, water lightning, etc. subject to the deductible. You can also schedule more valuable items like jewelry, sports equipment, firearms and more.

• Personal liability is a huge protection for you and the landlord. Should there be a situation and a loss occur the person or company experiencing that loss is going to want to be reimbursed. This coverage will allow for that reimbursement if you are found liable. Without a Renters policy you could be sued personally for the damages.

• Medical Payment covers people visiting you that do not reside in the same home. If someone is injured on your property this provides immediate medical attention.

• Loss of use is one of the most valuable coverages built into a renter’s policy. Should the place you live become uninhabitable due to a covered loss you would be given a check to get another place to stay. Additional expenses happen if there is a fire or water loss, and it takes time to get you back into your home. This coverage will give you the peace of mind that you are not calling out to a family or friends for a place to stay.

 

Lastly, renter’s insurance is affordable and establishes property insurance history. Most renter’s policies are under $20/ month. People that buy a home and have had renter’s insurance will get a better rate because of that established history.

 

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Heidi

970-292-8116

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