If you rent an Atlanta apartment or home, you may be considering getting renters insurance. The world of insurance can be overwhelming, and you might have some questions about renters insurance, such as what it covers, how much it costs, and what to look for in a renters insurance policy. And then there’s the question if whether or not your landlord’s insurance will already cover your belongings. So, here we go – we’re going to answer those burning renters’ insurance questions!
Does my landlord’s insurance cover me?
No. In most cases, it does not. Their policy will only cover the structure itself, not your belongings and treasures. That’s why it’s so important to consider renters’ insurance. If there was a fire or you get burgled, your belongings would not be covered, and replacing the possessions that were lost could be a substantial financial hit.
So, what is covered by renters insurance?
Your insurance will protect you against losses like fire, smoke, lightning, vandalism, and theft. The cool thing is that your renters’ insurance will most likely follow your belongings – and you – wherever you go. So, if your laptop and some other belongings got stolen out of your car, you’re good.
Renter’s insurance also covers your liability, meaning your legal obligation if you’re found responsible for causing someone bodily harm or property damage. So, you’re most likely covered if a guest trips over a rug, breaks their wrist, and decides to sue. Legal defense and judgments are also covered, no matter whether the incident happened at your residence or not.
How much does renters insurance cost?
Renters insurance is most likely not as expensive as you might fear. You’re only covering your belongings, not the structure itself (that’s the landlord’s purview.) If you decide to get a renters insurance quote, you’ll probably be pleasantly surprised at how affordable it is.
What other factors do I have to consider?
Do you have a dog? Some insurance companies can be funny about covering certain breeds or sizes of dogs. You’ll have to make sure that your fluffy friend is covered under the policy you choose and see how a dog may affect your insurance rates.
Can you bundle and save? You might be able to bundle the renters’ insurance with your auto insurance or life insurance and save money. Insurance companies like it when you get more than one policy from them, so they might give you a discount. And who doesn’t love a good discount?
Are there any exclusions? Make sure you know exactly what is and is not covered under your policy. For example, flooding is most likely not covered by renters insurance. If there are any exclusions or gaps, you may have to add extra coverages to your policy.
Is relocation covered? You need to know what would happen if something changes and you have to move out of the apartment or house. Will your policy help you cover the costs of relocation?
Do you have valuables such as jewelry? If you have any valuables, you’ll need to make sure you check the limit of coverage for them to see if it’s enough. If it’s not enough, you’ll have to find out how you can add extra coverage for your jewelry.
Renters insurance will protect your belongings while you’re renting a place. Don’t make the mistake of assuming that your landlord’s insurance covers your belongings, only to discover that it doesn’t. Instead, take matters into your own hands and look into getting a renters insurance policy. It might take a little bit of looking to find the one that’s right for you, but it’s worth it for the peace of mind you’ll enjoy. And you’re not in it alone – we can help you find the renters insurance plan that’s right for you. To get renters insurance quotes and shop for the best rate, all you have to do is fill out our quote form or give us a call today.