Whether you are renting an apartment, a duplex, or an entire home, renters insurance is a straightforward and affordable way to ensure that you and your personal property are protected. A popular and risky misconception is that a renter’s possessions are covered by the landlord’s homeowners insurance policy. However, the truth is that a landlord’s homeowners insurance policy typically only covers damage to the structure of the landlord’s building; your personal property needs to be covered by a separate renters insurance policy.
According to the Insurance Information Institute (I.I.I.), the average renters insurance policy in the United States in 2011 was $187 – less than $16 per month. However, as of May 2013, only 35 percent of renters said they had renters insurance, the I.I.I. reports. Some renters may believe that their personal property is not worth enough to require coverage, but it can be surprising how quickly the value of your belongings adds up. Completing a home inventory of all of your belongings, from clothing and furniture to tableware and artwork, will reveal exactly how much your personal property is worth. Click here to learn more about how to take a comprehensive home inventory and access tools that will help you quickly accomplish this task. In addition to placing a dollar value on your possessions, having an up-to-date home inventory of your belongings will also help speed up the claims process in the event of a loss.
If you reside in a rented home, whether it is a condominium, apartment, or house, it’s crucial to ensure that you understand the value of renters insurance. At Barton Insurance Agency, our agents will explain the different renters insurance coverage options to you, and help you find a policy that will best protect your belongings. To learn more about renters insurance or to get a free quote, please call us today at 603-526-6991 or click here to submit our online quote request form.
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