If you’re renting, it might not be your first thought to insure your personal property. Most rental homes usually do not require renters insurance to move in. People often do not mention it during the application or lease signing.
Renting a property does not eliminate the possibility of maintenance issues arising. Burglaries, burst pipes, bad weather, fires, guest injuries, and other problems can happen at home. You need to be ready for these situations.
Luckily, getting renters insurance that covers your belongings and protects you from lawsuits is much easier than you think.
At Chastain Otis, we educate you on the various coverages that are available with renters insurance. As an independent agent, we research to find the best renters insurance for you in the Omaha area. We get you multiple quotes for free to find your options.
Most renters insurance policies include three base coverages:
When asked, many people do not know how much it would cost to replace all their things. This includes clothing, furniture, electronics, and appliances. Would you be able to pay for everything you own if you had to replace it all?
Rental insurance will cover most of your personal belongings. Renters insurance will cover most of your personal belongings. However, restrictions exist on certain items, most notably jewelry and guns. But coverage is typically still available for these.
A good insurance agent can help you understand the policy language. They will make sure to properly cover your personal property.
Knowing that tenant insurance does not cover all types of damage to your personal property is important. Renters insurance policies typically do not cover floods, earthquakes, and wear and tear. Some things not covered by a standard policy might still be eligible for coverage. Again, this is something that our insurance agents in Omaha can help you sort through.
So, if you think your belongings are worth $20,000, get a plan that covers $20,000 in personal property. Are your belongings worth more than that?
Not sure? Let us know, and we’ll help you come up with a proper amount. The insurance agents at Chastain Otis make sure your rental insurance is the perfect plan for you.
Anyone who has ever been sued knows the importance of having good liability insurance.
Even if a lawsuit is silly, you may still face high attorney fees to defend yourself. Most renters policies include Personal Liability protection. This protection helps pay for your legal defense. It also covers any judgment against you.
This applies to lawsuits claiming you hurt someone or damaged their property. However, renters policies do not include motor vehicle liability. You need auto, boat, or motorcycle insurance for those claims.
Typical renters insurance policies in the Omaha area will cover anywhere from $100,000 to $500,000 in liability claims. Higher limits are available through Personal Umbrella policies.
If someone damages your apartment or rental home, you will face extra costs. You may need to move temporarily while repairs happen. You might also have to find a new place to live permanently. Loss of Use coverage in renters policies helps cover these costs.
For all the coverage that you get, renters insurance is cheap. With typical premiums around $15 a month, you won’t notice much difference in your bank account.
At Chastain Otis, we’ll get you several free quotes to make sure you are getting an affordable rate on renters insurance in Omaha.
Renters insurance doesn’t just cover your personal belongings when you’re at home. With most policies, coverage is worldwide. Whether you are visiting family in another state or on vacation far away, your renters insurance still protects you. It covers your belongings no matter where you go.
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