Information about Renters Insurance

Why should I buy renters insurance?

Here are just some of the things that renters insurance can cover:

• your personal property
• your personal liability
• loss of use – for example, if your apartment is damaged due to fire and unlivable, your insurance may pay for you to rent another unit while your place is being repaired.

Doesn’t my landlords insurance coverage my belongings?

No.  While it is possible if you have a special deal, it is not likely.   As a renter, your personal property is your responsibility.  Do you think that you “don’t own anything”?  Think again.  Look around your place, you have clothing, furniture, a television, a refrigerator and perhaps other items.  Do you have skis, a bicycle, skateboard, a laptop computer, a desktop computer, or a tablet?  What would happen if all of your stuff burned up in a fire.  It would cost a lot more to replace than you think.

Do I need renters insurance all year long?

This is an interesting question that we get.  According to information provided by the US Fire Administration*, the risk of residential fire goes up as temperatures decrease?  As the cost of warming your home or apartment increases, people are using alternative heating sources, such as wood stoves, space heaters to provide heat.

What about flood and earthquake insurance?

These two causes of loss (events that result in a claim) are generally excluded from a renters policy, but our team can help you purchase coverage for both flood and earthquake as a renter (in most locations).

* These statistics were provided by one of the carriers that we represent.