3 Common Questions about Renter’s Insurance

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common questions about renter's insurance

You’ve worked hard for what you’ve got so it’s essential to protect your possessions from the unexpected. If you’re like one of the millions of Americans who call an apartment home, it’s important to research and compare your best options for renter’s insurance. But, if you’re not exactly sure what to look for (and what to avoid), you’re not alone.

To help you better understand how to shop for renter’s insurance, below includes answers to some of the most common questions posed by prospective policyholders.

(1) What does renter’s insurance actually cover?

First and foremost, like any type of insurance, policies can vary greatly by provider. That’s why it’s important to have a discussion with your insurance agent before you sign on the dotted line. They can help explain what the policy covers and possibly even suggest additional areas of protection that you need. In general, most policies offer personal property protection, which covers the physical items that you own like furniture and electronics. Some policies may even offer liability coverage, which protects you in the event that someone is injured on your rental property.

(2) I’m relatively young and don’t own a lot. Do I really need renter’s insurance?

The short answer is “Yes!” Renter’s insurance protects you in the event that a fire, tornado or burglary occurs. Would you have the cash flow to purchase all of the essential items that you need? With renter’s insurance, you can have the peace of mind that you can get back on your feet quickly without the added financial stress.

(3) What is a policy limit?

When you’re researching different options for renter’s insurance, be sure to look specifically at the policy limit. This defines the maximum amount of money that your insurance policy will cover. That’s why it’s a good idea to create a thorough inventory of your possessions in advance. Pay close attention to some of the big-ticket items that you might own such as musical instruments, high-end cameras and even your personal computer.

If you’re in the process of moving into a new apartment, don’t forget to talk to your insurance agent about your renter’s insurance options. They can help build a policy that provides the coverage you need – and one that fits within your budget.

Protect Yourself Against Life’s Uncertainties with Renter’s Insurance

At the John Bailey Company, we offer a wide range of personal and commercial policies designed to help individuals and families protect their financial futures. If you’re in the market for renter’s insurance, consult our Knoxville-based team for more information. We can help you navigate and compare all of your insurance options and find a policy that meets your specific needs. Contact us today by calling (865) 524-0785

Author: Brandon

Farragut High Grad, Ole Miss Rebel, Certified Insurance Counselor – CIC, Specialty Insurance Lover, Past Outdoor Insurance Underwriter, Co-Founder successes – Young Professionals of Knoxville, Knoxify.com, 2011 Dogwood Arts Festival Co-Chair. Lucky husband and dad to 3 sweet girls.

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