Renter’s Insurance Gaps

You have made your apartment your own. Filling it with furniture, appliances, photos and clothes. You have spent your money and time to make it your own. Are you sure you are covered if something happens while you are living there?

Most renters think that their landlord’s insurance covers their things if there was a break in, busted pipe that caused water damage, or a fire. It’s not the case. Your landlord’s insurance policy only covers the property. Your personal property is your responsibility and without the proper coverage you could be left with the bill replacing your things after a loss happens.

When you own a home, you buy homeowners insurance to cover your personal property from damage, theft and other losses. As a renter, you might not think you own as much as they do, but that doesn’t mean your things less valuable or less important. What if the pilot light on your stove malfunctions and starts a fire while you are at work, which destroys your TV, furniture and clothes? Do you have enough saved up to replace it all?

There’s a major coverage gap.

How do you cover your personal property if you rent? With Renters Insurance.

For about $15-$30 a month you can cover your personal property with a Renters Insurance policy. This policy will cover your things in the event of anything happening in your apartment. Say you left your laptop in your vehicle and it was stolen, this would be covered through your renter’s insurance policy.

Making a home inventory list is a good idea to see how much coverage you need on your renters policy. Remember to include expensive valuables and any collectibles. There are apps you can create inventory lists right on your phone. These apps allow you to take pictures and make notes. Check out Encircle, Snappii and Sortly for Android or iOS phones.

After you make your list give Frimark/Keller & Associates a call to get renter’s quote today.

We are a full service Trusted Choice Insurance Agency. We have protected the residents and businesses of Schaumburg, Park Ridge, and all of Chicagoland since 1910. We offer a full array of personal insurance, business insurance and life insurance products. Give us a call for a free, no obligation quote today at 847-907-4520.

We offer more than just a policy

See what we can do for you today