Whether you’re a seasoned renter or settling into your first home, renters’ insurance offers essential protection. Without it, you’d be responsible for replacing your belongings if they were damaged in a fire. Additionally, renters’ insurance can help cover costs if someone accuses you of causing injury or property damage.
#1 Renters insurance provides off-premises coverage
In addition to covering the cost of lost or damaged possessions in your home, rental insurance provides coverage for your possessions that are on the move. For example, if your bicycle is stolen from a bike rack at the park, or if your laptop is taken from your car while you’re at the supermarket.
#2 You can be compensated if you’re forced to relocate
Most renters policies provide additional living expenses coverage if your home becomes uninhabitable due to an event such as vandalism, theft, fire or water damage from home utilities. This benefit usually includes the cost of living expenses, up to your policy limits.
#3 performing a home inventory is helpful
Before you decide how much coverage you need, it’s important to know how much it would cost to replace your possessions. You can calculate replacement costs by conducting a home inventory and checking with us to make certain you’re fully covered.
#4 You can reduce your renters insurance costs
There are a variety of ways to reduce the cost of renters insurance. One option is to select a higher policy deductible. Increasing a deductible from $250 to $500 could create an annual savings of up to 15%.
Bonus Tip
You also may want to consider buying all your insurance policies from one carrier. For example, when you bundle your auto and renters policies, you might receive additional savings. Contact Great Lakes Auto Home to learn more about creating bundles, or for more information about renters insurance (630) 441-1003
Discover all the benefits of renters insurance.
Contact us today! 📲 (630) 441-1003
