Protect Your Property – Guide to Renter’s Insurance

Competitive Renter Insurance Policies More than 50% of adults from ages 21 to 30 are no longer diving into homeownership, but rather are choosing to rent their homes. Click Here For Homeowners Insurance Info  This generation of young people has experienced a certain level of uncertainty with the economic state of the country, leaving them skeptical towards long term investments. Surprisingly, renters insurance is often forgotten about and never pursued by young renters. Regardless of owning a home, the assets you have collected are still valuable, and you should do everything you can to protect them.

What Exactly Can Renter’s Insurance Do For You?

  • Protect Your Belongings: Most importantly, renter’s insurance policies will cover the bulk of your assets, such as clothes, furniture, and electronics. Take the time to add up the value of everything you own. We guarantee that you’ll be surprised to see how high that number really is! Renter’s insurance also safeguards your items in the case of natural disasters, such as fire or weather related incidents.
  • House You During Displacement: As a bonus, it’s important to check if your policy also covers the costs of having to be removed from your apartment for a temporary period of time, in the case of an emergency or any necessary repairs. This will typically be listed as “loss of use.”
  • Cover Liability: Just like most policies, renter’s insurance also includes liability coverage. For example, if someone is injured in your home, the expenses and care of any legal or medical costs will be covered under your renter’s insurance policy. This precaution is standard with most liability coverage, but extremely important for you and your home.
  • Be Affordable: Another advantage to renter’s insurance is that that you are only protecting what you own. The lower the value of your items, the less coverage you’ll need, making payments more affordable. Since you do not own your place of residence, you are not required to pay for structural costs. Renter’s insurance focuses on covering the costs of what you own and what contents are inside your dwelling. This benefit help keeps the cost of premiums for renters insurance lower than homeowners insurance. Additionally, it is important to note that any insurance policy covered by your landlord, does not cover your personal possessions.

While there are no legal requirements to having renter’s insurance, most landlords suggest their tenants have a certain amount of insurance.  If you’re not sure if you have a renter’s insurance policy, chances are you don’t. And if you have any other insurance questions or want to get a free competitive insurance quote and a free lunch contact us today.

Make This The Time To Call E & Y Insurance Agency (248) 362-1313 And Get You And Your Belongings Covered Today!