Points on… Renters Insurance

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renters insurance

> One of the biggest misconceptions that renters have is that their property inside the rental unit is the responsibility of the property owner. The property owner’s insurance does NOT cover your belongings that you have in the rental property nor are they responsible for damages to your belongings.

> On a renters insurance policy you will need to decide if you want, “market value” which is how much your property is worth in today’s market orĀ  “replacement value” which is how much it would cost today to replace your property. Example: Your older TV is now worth $250. With market value, you’ll get $250; with replacement value, you get the amount it would take to buy a comparable TV at today’s prices.

> If for some reason you are unable to reside in your home, “loss of use” coverage on your renters insurance policy will pay for you to stay elsewhere while you are displaced (up to the limit on your policy).

> A renters insurance policy covers you for injuries that others sustain while at your residence (including medical expenses and any resulting lawsuits).

> Many colleges and universities are now requesting students in dormitory dwellings to have renters coverage.

If you would like a quote on renters insurance, please call us at 760.650.5547 or submit our online request form.