Renters Insurance

The Facts About Renters Insurance – Part 2

Even though renters insurance is not required when renting an apartment, it is still a wise investment. We’ve already covered a few facts about renters insurance but there are still a few things you should know to further prove its importance.

Renters insurance works to give you the peace of mind for your new home. We work to keep it covered.

Extended Coverage

Proper renters insurance extends further than many people realize. For example, you can be reimbursed for living expenses if you have to relocate during a property repair. Many people aren’t aware that their belongings don’t need to be in their apartment to be covered.

Many polices will cover items that were lost or stolen during a vacation or taken from a car. Your property can also be covered during a relocation within the same state.

Money Matters

There are two types of reimbursements when it comes to renters insurance. Depending on your policy, you can either be reimbursed for the cash value of an item (taking into account depreciation), or you can receive a replacement cost which gives you the amount of money it would take to buy a comparable item. Replacement cost reimbursements don’t include deductions for depreciation.


There are limits to coverage amounts for liability and property. Depending on your policy, there is a limit to payouts you may receive for certain items like jewelry or computers. It may be necessary to add coverage to more expensive items in your possession.

Natural Disasters

Usually, renters insurance policies will not cover damages to your property that occur during natural disasters like floods or earthquakes. For many, that requires additional coverage, so be sure to ask our insurance agents what else might be needed.


Depending on where you live, you may need additional insurance to cover damages or injuries caused by a pet. Many breeds of larger dogs, for example, require coverage in some areas. This can be covered by renters insurance in some cases but you will need to verify this with our agents.

Let’s Start Searching

Moving into a new home is a big deal for families and individuals. At Shepard Walton King, we understand the needs of a renter and work to make sure you are protected and provided with valuable coverage while moving. If you would like to know more about what we can do for you, contact us online or give us a call at 800.446.2471.

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