Auto Insurance quotes from multiple carriers. Get Quotes
Home insurance that fits every size home and every home value. Get Quotes
Take care of the ones you love by getting Life Insurance. Get Quotes
SR-22 Insurance Get Quotes
Home/Renters Insurance Get Quotes
Renters Insurance Get Quotes
Low price. High value. Great service. Get Quotes

Burglar Swiping Television

As a renter, you face many of the same risks homeowners do. Among these are the risks that someone will break into your home and steal your valuables.

This is one of the reasons why it’s important to maintain renters insurance. This coverage helps minimize your financial loss should you suffer this fate.

Here are a few things to know about your policy.

What Your Policy Covers

Each renters insurance policy is different from the next. Be sure you verify the details of your policy with your agent before you commit to it. You should understand how much coverage you have. You also want to be sure you buy enough protection. Look at the list of excluded items and types of losses. Verify when the policy starts and ends.

Electronics Have Limits

Most renters insurance plans place limits on the amount paid out per item. This type of limitation is often placed on items such as cash on hand, business property at your location, watercraft, jewelry, firearms and electronics. That means the policy will pay up to a specific amount per item if you file a claim. For example, most policies restrict claims to up to $1,000. If the item's value is more, it will not fully cover the loss.

If you have electronics valued over this limit, you can still get coverage. Ask your renters insurance agent to add a rider to the policy for that item. This costs a small amount more. However, it will specifically cover the item you list.

Theft and Renters Insurance

Most often, theft is a covered claim. The policy provides coverage to you if someone steals your items from your rented home. But keep in mind that there are limits here.

Renters insurance may also cover lost items. You will need to learn the specifics of your plan to see how much coverage is offered for this incident.

Be sure to file a police report when filing a claim for theft. And, provide any evidence of the theft to your insurer.

Also ensure your policy accurately reflects what you own. Do not assume the coverage you have will always be adequate. Update it if you add new electronics to the home, as this will help ensure coverage.

Cloverleaf Insurance can help you navigate the ins and outs of renters insurance coverage. Contact us today to learn more.

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
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
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011

View Mobile Version
American Modern
The General