CAN YOU AFFORD TO LOSE EVERYTHING YOU OWN?
Many people do not understand what renters insurance can do for them. Insurance can assist in financial recovery from disasters. It replaces more than any community organization can provide. If you rent an apartment or a house, renters insurance will reduce the financial hardship of a fire, theft, or other disaster. The following information should answer most of your questions about what renters insurance is and why you should have it.
Won’t renters insurance cost too much?
No. Renters insurance is available at a low cost for your personal property. It costs a great deal less than car insurance. Renters insurance costs approximately $12 a month in most areas of the country.
What if I don’t own much property?
You probably own a great deal more than you think— furniture, clothing, personal electronics, everyday appliances, sports equipment and kitchen ware. What would it cost to replace everything in your apartment if there was a fire or other disaster?
What is renters insurance?
Renters insurance is insurance that pays you if your personal property is damaged or stolen. Renters insurance can cover fire damage, theft, vandalism, damage from windstorms and hail, water damage from plumbing problems, and many other hazards. It also protects you from liability if an accident happens in your home and may pay your temporary living expenses if an emergency forces you to leave your home.
Doesn’t my landlord’s insurance protect my belongings?
No. Your landlord’s insurance does not protect your personal property. It only protects the building.
Is all renters insurance the same?
No. Some policies cover more than others. The deductible (an amount you pay before the insurance starts to pay) and limits may vary, and the cost for the same coverage may be different from company to company.
Additional Coverage Contents Coverage Deductibles
Discounts Liability and Theft Coverage Living Expense Coverage
Replacement Cost What is NOT Covered
WE HAVE A PERSONAL PROPERTY CHECKLIST AVAILABLE TO HELP DETERMINE HOW MUCH COVERAGE YOU NEED. Property Inventory Checklist PDF