For some, insurance is required. Whether your state requires you to carry auto insurance, like Wisconsin, or your landlord requires you to have renters insurance in your lease it may seem like just a hassle. You may even think that your landlord carries fire insurance for you but if the unthinkable happens you may be let down.
Common Coverages in a Renters Insurance Policy
Unlike a landlord’s policy YOUR renters policy covers your personal belongings in the case of a loss. If your possessions are stolen during a break-in or damaged by a fire or severe weather your renters insurance policy can help you recover their value. Your renters policy also covers your liability in the event someone is hurt in your home and you are found liable for their injury. Another coverage that is more common in Wisconsin and other Northern states is frozen pipes. Sometimes pipes are located in a non heated area. If water suddenly finds itself in your apartment or rented home you may be a phone call away from getting them replaced for their replacement value.
Common Myths about Renters Insurance
You may think it is just another extra expense but a renters insurance policy can be taken out for 10-20 dollars per month on average. You may think you don’t own very much but if you sit down and really itemize what you own including your clothes, appliances and furniture you may be surprised how high that number gets.
The Hidden Benefits of Renters Insurance
You see all the ads talking about bundling right? Chances are if you bundle your Auto Insurance with your Renters Insurance this discount alone may pay for the Renters Insurance Premium. You also hear about Identity Theft all the times these days. You may even know someone who had their identity stolen. In many cases you could add ID Theft coverage on your Renters Insurance policy. Give your agent or us a call and we can give you a quote in less than 5 minutes. You’ll be glad you did.