Facts About Renter’s Insurance You Should Know
If you have ever rented a house or apartment, you probably know what renter’s insurance is and why it is essential. However, there are several things about this kind of protection that even the most educated tenants might not know. A few facts will go a long way in helping you choose the right policy at the lowest monthly rate.
- Online Quotes – Instead of spending valuable time visiting or calling different insurance companies, you can get quotes online from a reputable source.
- Outdoor Belongings – Many people think that renter’s insurance only covers items on the inside of the home. In reality, the policy also covers outside possessions. For example, a good policy covers damaged patio furniture, statues, lawn and garden equipment, and even plants.
- Partial Payment – If you have $40,000 coverage and a fire or theft damages your possessions at that value, you would assume the insurance company would send you a check for that amount. However, the way this type of policy typically works is that the provider automatically sends a check for 60 percent – in other words, $24,000. For the remaining $16,000, you would have to pay out of pocket to purchase the replacement items and send the receipt to the insurance company. At that time, the provider would reimburse you for what you spent, up to $16,000.
- Possessions in Your Vehicle – Renter’s insurance also covers damaged goods inside your vehicle. For instance, if a fire swept through a house you rent with an attached garage, and it caused damage to things inside the car, the policy would cover them. As for the vehicle, any damage would fall under your auto insurance.
- Inventory Your Possessions – Although it takes a little time to write down the things you own, if you ever need to file a claim, that list would come in handy. For your most expensive belongings, take photos. That way, you have hard proof of what you own. Usually, that will push the claim through faster and ensure you receive the money you are due.
- Additional Coverage – If you own some high-dollar items, such as firearms, artwork, designer clothes, jewelry, and so on, you can always purchase a second policy. Depending on the provider and the renter’s insurance policy, your agent may add a clause that covers those things. Otherwise, he or she would provide you with a second policy, also at a nominal price.
- Injured Guests – If someone visits your home only to sustain an injury on the property, like falling down the stairs or slipping on a wet floor, your renter’s insurance would cover the medical bills.
- Pet Coverage – You might find it surprising that renter’s insurance protects you should your pet bite someone. The policy would cover any medical expenses.
- Affordable Cost – The cost for renter’s insurance varies depending on the amount of coverage, the provider, and other factors. However, it is typically more than affordable. As an example, paying $40 a month for a $100,000 policy is a realistic scenario.
Protect Your Possessions and More
By comparing quotes, you can find an incredible policy with a competitive rate. To compare rates, visit The Insurance Store USA website. We make it easy to select excellent renter’s insurance.
Please call 833-848-2477 or fill out the form here.