You might think you don't need Renters Insurance if you rent.
Add up the cost of your furniture, your electronic equipment, your CD/DVD collection, computer, garments and other personal items. Can you afford to replace everything in the event of a fire or burglary?
Renters Insurance is relatively inexpensive. The average cost of renter's insurance begins about $12 a month for around $30,000 worth of property coverage and $100,000 worth of liability coverage.
Repair or replacement of your personal property damaged, destroyed or stolen as the result of various types of peril -- fire or lightning, windstorm or hail, explosions, smoke, vandalism, theft, damage by glass, electrical surge damage, and water-related damage from home utilities, and more. If your home is made unlivable by one of these perils, Renters insurance will pay for the associated expenses (cost of a temporary residence, meals eaten out, etc.). Coverage is usually limited to a percent of the total value of the policy. Renter's insurance can even cover you for personal possessions that don't happen to be in the apartment at the time of the loss.
Many renters are under the impression that their landlord's policy covers their belongings as well. That's not the case, and they often don't find that out until after a disaster or a robbery. Your landlord's policy doesn't cover anything that's yours. The only exception to this would be if the loss was caused by negligence on the part of your landlord, and then you would still have to prove it in court. This is where Renters Insurance comes in.
When getting an insurance quote on your rental, condo or home, consider asking for a quote on an auto policy as well. Farmers offers a discount if you carry all your policies with us.
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816-285-9483
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