Comprehensive Renter’s Insurance Policies in Abilene & San Angelo, TX
While many mortgage companies require that homeowners carry homeowners’ insurance, the same regulations are often not in place for those who do not own their living space. If you rent or lease a house or apartment and your landlord has not stipulated that you must hold a renter’s insurance policy, you may not even be aware that such an option exists. If you do know about renter’s insurance, perhaps you’ve decided to pass on it in order to save money on premiums. It is in your own best interest, however, to invest in coverage in order to protect your property and belongings as well as yourself against liability. For comprehensive renter’s insurance policies in the Abilene and San Angelo, TX areas, schedule a consultation with the knowledgeable agents at Mr. Insurance Inc.
What Does Renter’s Insurance Cover?
Renter’s insurance is intended to protect against unexpected events such as theft, fire, or injury to a visitor. A typical policy will include three types of coverage:
• Personal Property: This includes items such as clothing, electronics, and furniture and covers the cost to repair or replace them if damaged or destroyed.
• Liability: This will reimburse you in the event you have to pay the medical bills of someone who was hurt on your premises or the repair bills for damaging someone else’s property.
• Living Expenses: This pays for additional costs you incur when your primary residence becomes uninhabitable, such as hotel bills.
Your renter’s insurance will pay up to a maximum amount allotted by your policy limits for you personal property. In order to determine how much personal property coverage you need, take an inventory of all the things you own and add up their value. Note that a standard policy may not have provisions for every single belonging in your possession, such as a valuable piece of jewelry, meaning that additional coverage may be warranted.
Why Consider Renter’s Insurance?
Renter’s insurance is generally some of the easiest to obtain and least expensive protection out there. Still, you may not think it’s worth the cost. Maybe you don’t believe that you own anything of great value, or that you are not at risk because you always lock up after yourself and keep your home safe from hazards. The truth is that our possessions add up, more than likely to an amount you could not comfortably afford after a tragedy. Sadly, such events are likely to occur no matter how careful you are, simply due to the fact that you cannot control your neighbors’ actions, especially if you live in a shared building. The bottom line is that renter’s insurance just makes sense. Contact us today to discuss your policy options.