Having Peace of Mind with a Renters Insurance Policy

If you own a home or are in the process of purchasing one, chances are that you’ve already secured a home insurance policy. Or perhaps you’re a renter? Now, being a renter definitely means having fewer things to worry about, such as plumbing issues, broken appliances or something similar since a landlord handles those problems. However, what if your apartment happens to be burglarized, or if the house you’re renting from suffers damage from a fire? What will you do then? This is where a renter’s insurance policy comes in. Let’s go over a few things about this very important option.

Shepard Walton King can help you find the best renters coverage for the peace of mind you need. Contact our insurance agency in McAllen to learn more.

The Basics

With renters insurance, you’ll be purchasing a policy that can help reimburse you for items lost or damaged if anything serious happens to the property you’re renting, like a fire or flood. It’s important to remember that your landlord may have already opted for an insurance policy for the property, but this may not protect the tenants’ personal belongings.

Coverage for You and Your Guests

A renters insurance policy can not only protect your personal belongings, but also you in other situations as well. For example, if a guest at your residence suffers an injury due to a fall or other mishap, a renters policy can take care of some of their medical bills or even protect you from a lawsuit brought on by them.

Of course, not every policy is the same and there may be a deductible. Also, if your home is damaged to the point that living there is no longer possible, then certain renters insurance policies can provide reimbursements for relocation expenses like hotel bills, restaurant meals and other expenses above and beyond your own.

Frequently Asked Questions

Can the renters insurance I have now be used if I move?

Depending on the rental policy you have, it may cover you at your new residence. Just be sure to stay in contact with your insurance agent and update him/her with your new address. In turn, your agent will inform you if your policy will be effective in your new residence.

Can renters insurance cover family heirlooms or expensive items?

Expensive items in your home can be covered in your renters insurance policy as long as you’ve disclosed this with your agent. Once again, please keep in touch with your agent to disclose what you want to have insured.

If there’s an accident at my residence, will my policy cover me?

Unfortunately, a renters insurance agreement will not cover you, only guests.

Protect Your Home Today

Many times, renters insurance is overlooked because it’s not mandated by the state like auto insurance or homeowners insurance. Don’t let this stop you from taking care of your home, even if you’re renting. Shepard Walton King can help you find the perfect policy that meets your needs and budget. Contact our insurance agency in McAllen today for more information.

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