The average renter owns about $20,000 in personal property and is 25 percent more likely to be burglarized than someone who owns a home. So most people who are renting a home, apartment, condo, mobile home or other dwelling think of Renters Insurance as protection of there person possessions, their “stuff”. Burglary is the most common way renters lose their stuff, but renters insurance also protects you from fire damage, water damage, etc.
The good news is the other coverage you get when you buy a renters insurance policy. You “stuff” is covered even if it’s stolen from the trunk of your car. It’s covered anywhere in the world! You also have liability protection, which protects you if you cause harm to someone who sues you or if they fall on your personal sword collection by accident. How about we keep those swords in the closet, eh?
Renters insurance can also pay medical expenses and provide money for another place to live if your place burns down. There are many things your will be protected when you buy a renters policy. There are also some things – called exclusions – you must be aware of too. For example, If it rains for forty days and forty nights causing flooding from the nearby river, renters insurance will not cover you. You would need to buy a separate flood insurance policy for that. This is also true of homeowners policies. However, if you go away for Thanksgiving and come home to find a cracked toilet tank that has been running for a few days flooding your entire apartment, you would likely be covered.
If you drive a car and your add renters insurance through the same company, you can get a discount on both policies. When you bundle renters and car insurance, sometimes the discount all but pays the difference. Often times our clients at Monson Insurance in Fresno who add a renters policy to their car insurance end up paying almost the same premium as the auto policy by itself. To protect your “stuff” anywhere in the world and get all the other protection you get with a renters policy, it makes sense to at least look at this option if you already have car insurance.
We don’t push you to buy anything. Just reach out to a real person anytime at Monson Insurance and we’ll answer your questions. We can put together an insurance plan for you. If it makes sense, great! If not, still keep us bookmarked, because you may have questions later.