If you own and keep any amount of valuable items in a place you’re renting, you should strongly consider renter’s insurance. It’s highly affordable, providing great protection and peace of mind for a small monthly premium.
That said, it doesn’t cover quite everything.
As with any insurance policy, you should know what is and is not covered. Losing possessions is bad enough. Losing them and then discovering that they’re not protected by your renter’s insurance policy is even worse.
Of course, policies can vary from company to company and state to state. Not to mention you can often customize a policy to meet your needs. With that said, here’s what’s typically included in a renter’s insurance policy.
What Renter’s Insurance (Usually) Covers
Renter’s insurance protects your possessions from unforeseen circumstances and unfortunate events. This includes house fires, certain weather conditions like hail or lightning, theft, and vandalism.
For larger ticket items, you may need to provide some sort of proof of purchase or receipt.
Taking pictures and inventory of your personal items before an accident can make the claim process much easier, should something go wrong.
What Renter’s Insurance (Usually) Doesn’t Cover
The limitations of renter’s insurance are very similar to those of home owner’s insurance. Your standard plan isn’t going to cover most natural disasters.
For example, renter’s insurance doesn’t protect against flooding. By flooding, we mean “proper” flooding.
If a pipe bursts or the ceiling breaks and water spills into your home you’ll likely be covered. However, if it rains aggressively or bodies of water overfill and flood your neighborhood, you’re out of luck.
Unless, of course, you get a separate flood protection policy. The same goes for earthquakes.
The good news is, most of the US doesn’t have to worry about earthquake damage. The bad news is, getting earthquake coverage in areas affected by earthquakes is very expensive.
In addition to natural disasters, renter’s insurance won’t cover damage you cause. So be careful.
Lastly, renter’s insurance may not be enough to cover highly valuable possessions. This could include rare jewelry, sports memorabilia, art-work, and more. Items like these often need their own insurance policies to be protected.
If you have any high-ticket items, it may be a good idea to invest in a fireproof safe, in addition to separate coverage.
Getting the Renter’s Coverage You Need
The best way to get the insurance protection you need at a price you can afford is to use an insurance agent. At Link-Hellmuth, we work with the top renter’s insurance providers in Ohio so that you get great insurance at a great price.
We’ll make sure you understand exactly what you’re signing up for. Make sure you’re protected. Contact Link-Hellmuth today and ask about renter’s insurance in Springfield, Ohio.