Your home is your castle, whether you have a small urban studio loft or a sprawling three-bedroom rented house. While you may not own the property you live in, you still have plenty to protect. Here at Killey Insurance, we spend our days helping our customers prepare for the unexpected with renter’s insurance policies that cover you and your belongings against major setbacks. From fires and smoke damage to theft and vandalism, we have everything you need to minimize your risk and protect your financial future.
Who Needs Renter’s Insurance?
Everyone who rents their home needs renter’s insurance. Though your landlord may have property insurance, it would be a mistake to assume it covers your personal losses. In most cases, a landlord’s insurance only protects the structure of the home you live in – not your personal belongings inside of it. Unless you could easily afford tens of thousands of dollars to replace your entire wardrobe, all of your furniture, your electronics, and everything else you own, make renter’s insurance a top priority anytime you lease a home.
Types of Renter’s Insurance Coverage
Renter’s insurance policies tend to have multiple types of coverage included for tenants. Examples of common coverage types include:
Personal Belongings Insurance
The value of your personal belongings is probably much more than you realize. Replacing everything you’ve ever purchased can be daunting and expensive. Starting over shouldn’t be that complicated. With a renter’s insurance policy, your insurer helps reimburse you for your losses, allowing you to begin replacing the things that were lost or damaged as soon as possible. We here at Killey Insurance recommend taking a home inventory right away and updating it regularly. Then, store it somewhere safe, such as a lockbox, a cloud-based software program, or on file with your independent agent.
Valuable Items Coverage
Though your personal belongings are automatically protected under your insurance policy, some types of items may have a cap on coverage. If you own a large collection of things like furs, fine jewelry, or firearms, talk to your independent agent about including valuable items coverage in your renter’s insurance policy.
Temporary Living Expenses
If you apartment suffers severe smoke damage after a neighbor’s kitchen fire, your home might be considered uninhabitable. Fortunately, you can rely on your renter’s insurance policy to see you through with temporary living expenses like housing and food until you can return home or find a permanent place to live.
One of the most important parts of a renter’s insurance policy is the liability protection it affords. Did you know you can be sued for injuries a visitor sustains tripping over your child’s toys in your yard? Liability insurance gives you peace of mind knowing that you are covered for medical bills, legal defense fees, and financial obligations up to the limits of your policy. This coverage is available for incidents occurring within your home, or while away. It covers your victims’ injuries and personal losses arising from the result of your negligence, or that of your pet.
Renter’s Insurance in Eau Claire
At Killey Insurance, we know how important it is for Eau Claire area renters to find affordable renter’s insurance. That is why we shop around on your behalf to find the most competitive rates on the coverage you need. For more information or to request your free renter’s insurance quote, contact our office today.