What if a fire broke out in the apartment next to yours, and spread to your unit? Imagine if you came home to find your living room completely ruined by the fire: your furniture, TV, and other media equipment, as well. But the damage doesn’t stop there. The smoke has permeated your apartment, and your draperies and clothing are also ruined. Without renters insurance, what would it cost you to replace it all?

You don’t need to own a home to protect the things that matter most to you and your family. Renters insurance provides a safety net for all of the things which you’ve invested in, safeguarding your personal property against unforeseen events such as burglary, theft, or fire.
 

Renters Insurance


Many times, people mistakenly assume their landlord’s homeowner or property insurance protects their belongings. But if a fire broke out in your apartment or rental home, you may be surprised to find your stuff isn’t covered unless you have a renters insurance policy of your own. Your landlord’s insurance protects their property, the apartment or home itself, and not your property.

The renters insurance provides a tenant liability insurance and property coverage for the tenant’s personal property against perils such as fire, theft, and vandalism. The building's owner is responsible for insuring building, but has no responsibility to the tenant’s belongings.
 

What Does Renters Insurance Cover?


You may not even realize how much you have invested in your personal belongings. If you had to replace all of your furniture or electronics, however, the cost could be huge.  Renters insurance may help cover the cost to reimburse you for your personal belongings, including: furniture, appliances, electronics, TVs, computers, laptops and tablets, clothing, jewelry, and sporting equipment.

Your personal belongings are probably worth much more than you realize. Underestimating the value of your possessions may leave you without enough coverage. It’s a good idea to work with a qualified insurance agent to determine the correct amount of coverage that adequately covers the value of your belongings.

Like homeowner's insurance, renters insurance can also cover the loss of important items while traveling. Losing your luggage while traveling is extremely frustrating and most airlines will only cover up to a certain amount, which is almost always less than the value of the lost luggage. Renters insurance can cover the remaining cost of the lost items, which makes these policies all the more valuable to renters who travel frequently.

 

Benefits of Renters Insurance

Personal Liability
If someone is hurt in your home or apartment, liability coverage can help pay for their medical expenses and any resulting lawsuits.

Living Expenses
If you need a place to stay because your home is being repaired after an incident, your living expenses may be covered.

Property Damage
If you accidentally break or damage someone else’s property at their home, your rental insurance protection follows you and can help cover the cost.

Types of Renters Insurance

Actual Cash Value 
Covers the cost of replacing the items, after deducting the depreciated value.

Replacement Cost
Actual cash value without the deduction for depreciation, so you would be able to replace your belongings up to the original value.  These policies are more expensive.

Who Needs Renters Insurance?


If you rent an apartment, house, or condo, you should carry renters insurance. Since your landlord isn’t responsible for your possession, or any liability you may face if someone is injured in your home, you will be left on the hook if something goes wrong. Renters Insurance is an affordable way to protect yourself against a variety of unexpected events. Many rental properties even include a stipulation in their lease that requires tenants hold renters insurance.
 

Do You Need Additional Coverage?


If you have valuable items which need extra protection, such as a rare coin collection, furs, fine jewelry, or watches, ask us about an insurance rider to add to a standard renters insurance policy. A rider is a cost-effective way to get the most out of your insurance coverage, and to be sure your most valuable items aren’t left exposed by policy limits.  Personal Umbrella insurance can also extend the limits of the liability on your renters policy, protecting you even further against the risk of a large claim.
 

Get Renters Insurance Today


InterWest Insurance Services offers top-rated renters insurance from the best insurance carriers, so you can protect your belongings and the things which matter most to you. Call us today at (800) 579-6369 or comlete the form below for a quote, or to find out what renters insurance solutions will best cover your possessions.