Renters Insurance

Renter’s policies are inexpensive, easy to understand and to put into affect. There are quite a few ways that a renter’s insurance might provide peace of mind to a renter looking to cover his personal belongings. Here are some examples in the ways that a renter’s policy will help a renter sleep better at night in the event of a loss to a covered peril:

1. Renter’s Policies Provide Peace of Mind Protection- Renter’s insurance can provide peace of mind to many renters as a sort of guarantee. A renter pays a premium to an insurance company and in turn the insurance company agrees to cover a renter’s personal property up to a certain dollar amount (based on the amount of coverage the renter needs as stated by the renter). The renter will receive a declaration page from his insurance company listing the items that are covered under the renter’s policy. It will list the ways in which belongings are covered and what perils (losses) are covered under the policy. As long as a renter pays his premium on time he has a guarantee that his belongings will be covered under the conditions listed on his declaration page.

2. Renter’s Insurance Provides Extra Coverage- In most states renter’s insurance coverage offers protection on personal assets away from home. Often apartment dwellers will rent storage units. By purchasing renter’s insurance a renter will insure his belongings in storage units and elsewhere for up to 10% of his total policy coverage.

3. Valuables and Antique Coverage- Just like homeowner’s coverage renter’s insurance will cover certain valuables such as jewelry and antiques. This can be done by placing a rider on the insurance policy. A renter will be compensated as stated in the rider in the event of a loss. Antiques and jewelry along with other valuables are replaced at actual cash value.

4. Protection Against the Unknown- Apartment dwellers are at the mercy of other apartment dwellers and landlords. Careless smoking, landlord neglect, and a host of other situations could be causes of loss to an apartment dweller. An insured apartment dweller could lose everything if he chooses not to purchase renter’s insurance.

Because of its low cost and wide coverage purchasing renters insurance is a good idea for every renter providing peace of mind while protecting precious belongings. Renter’s insurance policies may be purchased through most property and casualty insurance companies, either by stopping in a neighborhood office or by purchasing a basic policy online.