Renter’s insurance is all about protecting you’re the things you have worked hard to acquire. The average renter has upwards of $20,000 in personal belongings – often much more. Disaster can strike in the blink of an eye, wiping out all of your personal possessions and sometimes forcing you to temporarily or permanently relocate. With renters insurance, you can rest easy after a covered event knowing that your out-of-pocket costs will be minimal.
Everyone who rents can benefit from renters insurance, from students away at college to families who are renting during a temporary transition between homes. What happens when a kitchen fire breaks out in your duplex, or a pipe bursts and floods your apartment? Sure, your landlord’s property insurance will take care of the structural damages, but what about your own personal belongings? From furniture and décor to flat screen televisions and entire wardrobes, you might be surprised to know how much your personal belongings are really worth. Replacing them all at once after a disaster could prove very costly without the right renters insurance.
Renters Insurance: What’s Covered?
Renters insurance typically includes a few basic types of protection. They include:
Personal Property Protection
This is insurance designed to reimburse you for the value or replacement cost of your damaged belongings.
Emergency Living Expenses
This is coverage that pays for your food, lodging and other living expenses while you are displaced from your rented apartment, duplex or townhome.
Accidents happen. Unfortunately, you might be liable. With liability protection, you are covered for incidents that cause loss or injury to another person in your apartment, or as a result of your children or pets.
Our agents are here to help you navigate your renters insurance options and understand exactly what is in your policy. We can break down your coverage and explain the types of events you are protected against. These ‘named perils’ will be outlined in your policy and typically include major incidents like fire, theft, vandalism, and weather-related events. We can also assist you in estimating the value of your personal belongings based on your personal inventory.
Renters insurance add-ons – known as ‘riders’ – may be helpful if you have certain high-value or business-related belongings that need to be covered. For example, you might need to schedule coverage for an expensive fur or your grandmother’s vintage wedding ring. Likewise, you may need to select additional coverage for any business inventory you store in your rental unit, as these may not be covered under a standard policy.
Looking for Savings on Green Bay Renters Insurance?
Did you know that renters can qualify for discounts on renters insurance? Safety and prevention are important to insurers. If your rental unit is equipped with a monitored burglar alarm system, fire alarm, or an interior sprinkler system, you could qualify for significant savings. You may also lower your premiums by combining your renters insurance with another policy, such as your auto insurance coverage.
One of the most important steps you can take when looking for Green Bay renters coverage is using an independent insurance agency for your search. Instead of working for insurers, an independent agent works for his or her customers with the goal of finding the most complete coverage at an affordable price. Here at Pagel & Associates Insurance, we connect our customers with coverage from many of the leading renters insurance companies in Wisconsin. If you are in the market for renters coverage, contact our team for your free quote today. We look forward to serving you soon.