Renters Insurance - What if?

What if...

• Someone broke into your apartment while you were away and takes everything?
• Someone trips and falls and blames you for the injury?
• Your electronics are destroyed by a power surge?
• Your building catches fire and you have no place to stay?

These are all things covered by your renters insurance. Lets start with the most obvious, theft. This is the most well known reason for a renter to carry insurance, to protect the things you own. If they are stolen your policy will pay to replace them with new; in the event of a fire or water damage your policy will pay to restore what you have if its possible or replace it. Can you afford to replace all you have if there is a total loss? If you think you could I'd suggest you go through your apartment or home and make an inventory of all you have. Start with the furniture and figure the cost if you had to go out today and buy a replacement. After you finish with that look at all the movies, CD's, clothes and don't forget everything in your kitchen cupboards. You'll find a lot more than you think.

Protect all you have with a renters insurance policy before a loss happens. We also have discounts if you write your auto insurance, the discount of the premium of the car insurance will often offset the cost of the renters insurance so you will get the added protection you need now, before its too late.

Why Do You Need Renters Insurance?

I was out last week visiting a few of the apartments in the city and was talking with a renter in the Beaverton area. She said she'd been asked before about renters insurance and really didn't see the point of it. All the furnishings she had were given to her by family and friends or picked up second hand so there really wasn't that much to insure.

What she, and many like her don't realize, is that Renters insurance covers property for its replacement cost. This means that even though she didn't pay for her dining table, it was given to her by her mother when she purchased a new one, if its damaged in a covered loss we will replace it with a new one at current cost. If you lose 20 shirts our claims adjuster isn't going to figure how much each of those shirts are worth today, they'll pay based on the cost to buy 20 new ones to replace them.

There are also many other coverages built into renters policies to make them worth the small cost of coverage. Over the following days I will cover each so please feel free to email any questions you have relating to renters insurance.