Renters Insurance: Your Posessions Need Protection
If you are a renter, your property is NOT covered by your landlord’s insurance. Think about if something were to happen to your home such a fire, pipe burst or even theft. How would you afford temporary housing if yours was damaged? How do you afford to replace your possessions? If you have renters insurance, you wouldn’t have to pay for those inconveniences. Every renter should have insurance, and AW Welt Ambrisco can help you get the coverage you need. No matter if you are renting an apartment, a condo, or a house, renters insurance will cover your possessions to a certain limit, similar to homeowners insurance.
What Does Renters Insurance Cover?
Renters insurance protects your possessions against damage caused by a wide range of disasters such as fire or smoke, lightning, vandalism, theft, and more. (As with homeowners insurance, flooding and earthquake are typically excluded from a standard renters policy.) If you have valuable jewelry, collectibles, cameras, musical instruments and other valuable items, you can add additional coverage for those items as an endorsement to your policy. Renters insurance also offers personal liability coverage and additional living protection in the event that you are temporarily unable to live in your home after a loss.
Renters Insurance: Common Myths
Many people are unsure of the line between landlord and tenant when it comes to insurance coverage. There are several misconceptions about renters insurance which we’ll address below:
1. My Landlord is Responsible
There are several advantages to renting versus owning your own home. Your landlord usually handles general care of the property; you never need to worry about lawn care, snow removal or trash collection; you are free to relocate simply by giving notice under the terms of your lease; and your landlord has liability protection enough to cover appropriate claims if they were to occur. But it is important to remember that the landlord’s insurance does not cover you or your belongings.
2. I Don’t Need Renters Insurance
Many renters think they can easily replace their belongings in the event of a claim. And since you accumulate your possessions over time, it may not seem like you have very much, or what you have doesn’t add up to much. But if you take a look at your closet, your furniture, electronics etc. you’ll realize that if something happened and you needed to replace your belongings you may not have the financial resources to do so.
3. If My Guest Gets Hurt, Their Insurance Would Cover Them
If a houseguest is injured at your house or apartment, they can sue you for lost wages or pain and suffering and it would be up to you to cover the damages. In addition to insuring your personal property, renters insurance can protect you against lawsuits with liability protection. You can add additional liability protection with a personal liability umbrella policy.
4. Renters Insurance is Too Expensive
Renters insurance is very affordable, and provides peace of mind. Take a moment today and contact AW Welt Ambrisco Insurance for a no-obligation quote for renters insurance (319) 887-3700.
What to Expect from AW Welt Ambrisco Insurance:
- All your insurance needs in one agency.
- Free, comprehensive AW360 risk assessment and coverage review.
- Choice of insurance companies you can trust.
- In-house claims: we are your advocate!
- Exceptional service.
AW Welt Ambrisco Insurance can help you protect yourself and your belongings with renters insurance. Contact us today for a free risk assessment and quote at (319) 887-3700.