Cover Yourself with a Renter’s Insurance Policy
So you have made the leap. You are now out of mom and dad's house and living on your own. You never thought the day would come when you would be able to say that you had your own place!
Maybe you have been in the dorm for a few years and you graduated. The next step for you (aside from finding a job to match your degree) is getting an apartment!
Perhaps you, your wife, and 3 children have been renting for years. You both work hard and not having to deal with the yard or home maintenance is just what you want! You live in a great 4 bedroom 2 family that you rent half of and it is perfect!
Whatever your reasons for renting or whatever your stage in life, there is something you need to know. Your "stuff" isn't covered. "My landlord has insurance!" Yup, he does. To cover HIM, his property, and what belongs to him but not your belongings. "That's not fair!" Well, you wouldn't want to pay a premium to insure things that didn't belong to you, and how would he know exactly what you have and what it is worth?
Everyone who rents, whether you rent in an apartment building, a room in a house, or the whole house, should have a renter's insurance policy. An easy way to figure out what is covered in a renter's policy? If you took the house or apartment and tipped it upside down and shook it, everything that fell out is covered. It covers all of your belongings - from clothes to dishes to TVs.
A renter's policy is not a huge expense but can save you thousands of dollars if there was a loss and you had to replace all your things with no help from the insurance company. A renter's policy can range anywhere from $150.00-$200.00 for the year and coverage starts at $20,000 going up depending on your needs. So, for a small monthly premium you can have the peace of mind that in the case of a loss, your belongings are covered.
Another amazing perk to having a renter's policy is that it provides you with personal liability coverage. Listen, accidents happen. Someone may trip over you welcome mat and hurt themselves! You would like to think that your friends and family would never go sue you, but isn't it better to be covered in case? Your personal liability also follows you, so if you are golfing and hit a ball that slams right into the side of someone's head, you are covered. We recommend carrying at least $500,000. It is inexpensive to have but it can save you a real headache down the road.
BUT WAIT! THERE'S MORE! If you bundle a renter's policy with an auto insurance policy you could save enough money on your auto insurance to cover the premium of your renter's policy! So, coverage for my belongings AND a discount on my auto? Yup! That's what I call a win, win situation!
If you want information about a renter's insurance policy and what is covered, or how to bundle you auto with a renter's insurance policy, please call us at Ross Insurance. We are more than happy to work with you to find the best coverage for the needs you have! Call us today at 413-536-8380