Renters insurance is a policy that protects both the renter’s property and liability. In addition to covering you in the case of an emergency, renters insurance also offers some level of compensation for harm or wrong doing. Most renters don’t realize that even though they don’t own the property, they can still be held liable for accidents that happen on or in the property that they rent. In addition to these factors, renters insurance can cover you in the event of a disaster that renders your home or apartment uninhabitable. This will supply the policy holder with the funds to pay for alternate arrangements while the home is being repaired.
Often overlooked, renters insurance is an important protection that should be considered and purchased by anyone renting a house or apartment. The owner of the property will have insurance that covers the building, but it is up to you to cover your belongings. Bartz/Rumery Agency offers renters insurance options from a number of providers. We can help you find affordable renters insurance rates.
Important Questions For Renters
- Should I choose a policy that covers replacement cost or Actual Cash Value?
- How much coverage do I actually need?
- What is the best deductible for me?
- Will the policy cover my engagement ring or my lost luggage?
Types of Coverage
- Actual Cash Value: With lower premiums comes less coverage in this case. Actual cash value takes depreciation into account and therefore will not pay out what it actually costs to replace the items.
- Replacement Cost: In this case the policy holder will be compensated the actual cost to replace the item today. This means you get the item replaced, and are not just paid a depreciated amount.
- Extra Coverage: In some cases you may want extra coverage on specific items such as jewelry, guns, collectibles, etc.
Insurance Providers We Trust
- Auto-Owners offers broad flexible protection for your personal possessions.
Hanover Insurance Connections Home Tenants coverage has flexibility and makes it easy to add protection not usually covered by Tenants Insurance.
Basic Level Coverage Includes:
- Personal Belongings
- Loss of Use
- Liability Claims
- Building additions and alterations
- Medical Payments to Others
Select Coverage Includes:
- Higher policy limits
- Personal Property Replacement Cost
- Identity Fraud
- Refrigerated Products
- Lock Replacement
Select Plus Coverage Includes:
- Special personal Property Coverage
- Water Back-up and Sump Overflow
- Personal Injury
- Waive Deductible
- Fremont Insurance offers insurance for rentals and renters. Fremont offers unique policies that protect not only the buildings but also all-risk coverage including appliances.
- Michigan Insurance Company has policies to cover rental dwellings that you own but rent to others. Offering property and personal liability coverage for tenant occupied dwellings with one to four dwellings.