Insurance to meet your needs.

Renting can be expensive and the last thing you want is another monthly bill, so is renter’s insurance really worth the cost? That depends, how much do you like your stuff? Can you afford to replace everything you own in the case of a fire or other disaster? If you want to make sure your property and your wallet are both covered for accidents where you live, then read more about what renter’s insurance can do for you.

The structure of the home is covered under the property owner’s insurance. So, if your rented home or apartment were to catch on fire then your landlord’s insurance would pay for damages to the building. The contents of the building are another matter. Due to the rental status of the dwelling, the possessions inside are not covered by your landlord. If you want to make sure your laptop, TV, clothing, and anything else you own of value are protected, then you will need your own renter’s insurance policy.

Apartment complexYour renter’s insurance, also called a HO4 plan, will cover the things you own that are stolen, lost or damaged as a result of things like:

  • Fire
  • Smoke
  • Wind
  • Hail
  • Lightening
  • Faulty hot water or AC system
  • Civil unrest / Looting
  • And more

It typically will not cover major natural disasters like earthquakes and sinkholes, but normal weather-related damage is certainly covered. If a sudden heavy hail storm takes out all your windows causing your electronics to all get wet and destroyed, your renter’s insurance would cover the damaged items. How much money you get for your items will depend on why type of policy you have. There are two methods of paying out the value of items.

Actual Cash Value - If you have this type of policy then you will get back the current value of the item minus any depreciation. So if you have a two-year-old TV you will get the value of the TV today not the full original value.

Replacement Cost - If you have a lot of newer or more expensive items then you might want to opt for the replacement cost policy. You will get the money to get a brand new item regardless of the cost.

It isn’t just your stuff that is covered either, renter’s insurance can also provide liability coverage for accidents that happen to guests you have over. If someone slips and falls in your apartment then your renter’s insurance could cover their damages and protect you from a lawsuit. If you want to protect the things you own and have worked for, then renter’s insurance is a necessity. Call us for a Claremore renters insurance quote today at (918) 341-2056

Posted 7:53 PM

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2020
  • 2019
  • 2018


View Mobile Version

Fill out the form below to get started with an insurance quote



Connect with us

Facebook Twitter LinkedIn Instagram

Dorsey Insurance Agency Inc, Auto Insurance, Tulsa, OK
Trusted Choice

Claremore Chamber of Commerce