Renter's insurance can create peace of mind. It is designed to protect personal property as well as personal liability. Renter's insurance is comparable to homeowner’s insurance in that it protects your property in the event natural disasters as well as other circumstances. However, it differs in that it doesn't protect the dwelling. The Greg Alldredge Agency understands the importance of understanding how renter’s insurance works. What's covered may vary from state to state and from one insurance policy to the next. However, it should be noted that the price of renter's insurance is usually relatively small, considering the peace of mind and the protection it provides.
Renters insurance is designed to cover damage to your personal belongings that results from natural disasters as well as other unforeseen circumstances. This usually includes damage that may result from floods, tornadoes, wildfires, hurricanes, as well as other unfortunate situations that may result in damage to your personal property. Your insurance policy contains four sections that outline the terms of the policy. These sections thoroughly outline what's included in your coverage as well as any additional conditions that should be considered. In addition, there's a section on any circumstances, situations, or items that may be excluded or may require additional coverage. These sections are composed of: The Declaration/Information page, the Insuring Agreement, Exclusions, and General Conditions.
The declarations page outlines all the details of your policy down to the dates of coverage, what's covered, location, deductibles, and premiums. It also outlines the details of the personal liability section of your policy. As a start, take inventory of your belongings. This inventory should be as detailed as possible and should include receipts prices and photos. This will help you to determine how much insurance you need.
Certain items aren't automatically covered by renter’s insurance. As a result, it's a good idea to ask what's not automatically covered. For example, there are leisure items like a trampoline or pool that may require you to purchase additional insurance if you want them included. Also, in some situations, a credit-based insurance score will be used to determine your premium.
Renter's insurance protects your personal belongings as well as your personal liability. For a relatively small cost, it's a smart way to ensure that should your belongings be damaged or lost due to some unforeseen circumstance or natural disaster. They can be replaced. However, it's important that you understand what's covered and what's not.
Contact a Greg Alldredge Agency agent at our Utah office for more information and to get a quote.