If you rent a house, a condo, an apartment, a loft, a studio for your art, a building for your business, or any other kind of rental property, renter’s insurance is an absolute must. Lots of people who rent just don’t think about the necessity of insuring their belongings and it’s a shame because if there is a fire or a natural disaster of any kind that destroys the contents of the property, the renter is financially destroyed as well. Most commercial renters would never consider going without insurance to protect the equipment and the people that keep the business running. But renter’s insurance is more than that even. It is also liability insurance in the event that you, the renter, cause serious damage to the property you are renting, or someone you invite over as a guest causes damage, or, in the case of the commercial renter, one of the employees causes damage to the building in some way. A renter’s insurance is as essential as an owner’s insurance.
Even with a standard renter’s insurance policy I had an experience in a home I rented that was just awful. The issue was water damage from a flood inside the home and my policy did not cover water damage! The landlord charged me $1500 to replace the carpet in a bedroom with laminate flooring. They did it in the most expensive way possible, even after I had taken up the soaking wet carpet and all of the carpet installation wood and tacks and cleaned the cement floor making it ready for the flooring. They would not let me do the work or have anyone I knew do the work unless that person was a licensed contractor. This was a small bedroom and should never have cost anywhere near that amount of money to do. Of course they charged me for the plumber’s time to come and determine that it must have been my fault. The more I thought about it the more I realized it could not have been my fault. They told me it was my washer which was pretty new and had never had any problems, then I realized the water was clear, no suds at all, so how could that be? So eventually we went to small claims court and I prevailed. Dodged a bullet, but my relationship with the landlord was completely damaged. I will never be without renter’s insurance again, but now I understand the importance of flood insurance as well!
Renter’s Insurance Quotes
When it comes to purchasing renter’s insurance I have discovered that rates can differ tremendously from one company to another. Because of this, I use an independent brokerage firm because they have no allegiance to any one company and I get quotes from multiple insurance companies. Compare A Quote is just such a firm. Their professional, experienced agents do all the work of gathering quotes for me and I don’t have to do a thing except decide!
Renter’s Insurance Cost
Renter’s insurance is less expensive than homeowner’s insurance whether it is for a house, an apartment, a condo, loft, art studio, commercial building, or whatever. Typically you will pay anywhere from $120 to $320 dollars annually for an apartment, condo, or house, depending on the level of coverage you choose and the features of the plan, like whether or not to include flood insurance. It is important to be sure about the value of your possessions, and a policy could be even more expensive if you have really valuable items like paintings, jewelry, furs, antiques, or anything else that requires a Scheduled Personal Property (SSP) policy. Commercial renter’s insurance can run quite a bit higher, of course, easily into the thousands.
Renter’s insurance is designed to minimize the risk of financial hardship in the event of any kind of accident occurring in or on the property. Compare A Quote agents will help you find the right policy to fit your needs and your budget. Take a few moments to simply fill out the attached form or call the number listed above today. Don’t stress over what could go wrong and leave you financially exposed, just sit back and relax, call Compare A Quote, and leave the rest to us!
Renter’s insurance is like homeowner’s insurance in terms of the things that it covers, but it is less expensive than a homeowner’s policy because it does not cover the actual building. You need renter’s insurance if you rent a home, an apartment, a condo, a mobile home, or anywhere that you “hang your hat”. Your landlord carries insurance on the premises, but you are not covered under that policy. You need to cover the contents of the home if they belong to you and you need to protect yourself against liability in the event that you or a guest cause any type of property damage to your rented home.
The three kinds of personal insurance are designed to protect you from financial hardship due to the damage or destruction of your assets, or in the event that a lawsuit is brought against you for injury or destruction of property. CompareAQuote agents will help you find the right personal policies to fit your needs and your budget. Take a few moments to simply fill out the attached form or call the number listed above today!