There are many reasons for renting. Perhaps you enjoy the low maintenance costs and lack of repair bills. Maybe you prefer the low commitment that allows you to move quickly when opportunity arises. You might even live in a managed building complex that hosts fun activities, community events, and provides access to a host of amenities. Whatever your reason, one thing is certain – this carefree lifestyle still comes with some risks.
Types of Renters Insurance Coverage
Renters insurance policies typically contain several types of coverage, each of which are designed to protect you against financial damages in the event of an accident or sudden loss. The coverage is essential, even if your landlord does not require it. In fact, we recommend renters insurance for all tenants, whether you plan to live in your home for 10 months or 10 years. We offer policies that provide coverage for:
Nothing can undo everything you have worked hard to achieve like a major lawsuit. Whether a friend breaks her wrist after tripping over your living room rug or your child accidentally injures another child on the playground, liability insurance helps to protect you against the things you are financially responsible for. It extends to you, your pets, and other members of your household. If a victim makes a claim of injury or property damage, liability can help cover the medical bills and repair costs. If a victim decides to sue you for damages, your renters liability coverage can help cover the cost of a lawyer, as well as any judgments against you up to the limits within your policy.
Of course, having the right liability limits is essential to ensuring you are fully protected. After all, a single lawsuit could result in garnishment of your current and future wages, as well as liquidation of your expendable assets. In some cases, an umbrella policy is needed to provide high-valued supplemental liability protection in addition to the coverage available on your renters insurance. Talk with an agent here at G&L Insurance for help determining the value of your assets and how much personal liability coverage you might need.
Personal Belongings Coverage
The items inside your home are probably worth much more than you might think. From your furniture and dishes to your electronics and clothing, everything you have could be at risk if you are the victim of an apartment fire or a burglary. When you lose everything, the personal belongings coverage on your renters insurance can step in to help replace your damaged or stolen goods minus the cost of your deductible.
Renters insurance does have some limitations. For example, if you store inventory for your home business or have an expensive art or jewelry collection, you may need to talk with an independent agent at our office about adding extra coverage for items that may be excluded from your standard renters policy.
When your rental home is damaged or destroyed, the first step is meeting your basic needs. When you are displaced due to a covered event, you can rely on your renters insurance to help cover the cost of temporary living expenses, such as lodging and meals.
Affordable Renters Insurance in Waukesha
Renters insurance is a very affordable way of protecting yourself and your things against the unexpected. Here at G&L Insurance, we shop around for quality coverage from multiple carriers to find you a policy you love at a price you’ll equally love. We can also show you how to qualify for additional savings by purchasing auto insurance from the same carrier as your rental coverage.
For more information or to request your free renters insurance quotes, contact our office today.