Moving into your first home or apartment is a big step in life; breaking away from the cycle of college roommates and parental basements is important and comes with lots of promising opportunities. Making the most of a rental living arrangement is possible with the help of the right insurance coverage. Many renters are unaware of the risks facing them each day. Without the right protection, a renter could be left with no way to recoup their losses following burst pipes, break-ins, and other problems. bolt insurance provides comprehensive renters insurance policies to our valued clients.
It means a lot to be able to offer this important form of insurance coverage. We have talked with many clients and customers about how much better they feel after opting for a renters policy. Just as homeowners should be protected with a homeowner’s insurance policy, renters should have their own insurance program working on their behalf.
What is renters insurance?
Renters insurance is a form of coverage developed to specifically address the concerns affecting people renting property from the property’s owner; each policy will specify the various hazards covered by the program. Generally speaking, this policy helps guard against losses associated with problems caused by circumstances out of the renter’s control, including:
- Lightning strike
- Accidental water damage
Notably, earthquake insurance is available as a distinct product. If protecting against earthquake damage is a concern for you, speak with your bolt insurance agent.
Renters insurance also protects you in the instance that a guest is injured while visiting you. Slipping in the bathroom, tripping in the hallway, or bumping their head on a lamp can all lead to injury that you might be personally liable for. An insurance policy provides strong protection in these circumstances.
In most cases, a renter’s insurance policy will also cover loss in the case of theft. A thief could break in and take laptops, video game consoles, tablet computers, and any other number of valuable items. Whether you use these things for work, school, or play you deserve to have them protected with the financial resources made possible by the right insurance coverage.
Many different types of personal belongings are covered by a renter’s insurance policy, including:
- Work uniforms
- Computers used for work
- Power tools
Additional lines of coverage, such as excess coverage against loss, may be available to you. Speaking with an agent about your personal coverage needs is important; you can learn all about the protection contained in any particular policy.
Who needs renters insurance?
Anyone who rents a home, apartment, duplex, or condo should strongly consider getting appropriate insurance coverage. Many renters believe that their landlord’s property insurance is sufficient; in reality, property insurance is designed to protect the landlord’s interests, not the tenant’s. The policy might provide the financial support required to rebuild or remodel a building damaged by burst pipes or other problems, the coverage does not extend to the renters’ belongings.
Renters are often unable to assess the quality or soundness of a property from the outside; only after living in a space for a period of time do you get to know its character. That said, it is impossible to know whether the pipes in the wall are ready to burst or if the electrical wiring in the property is sound. These physical flaws in the building can lead to a range of disasters that have the distinct potential to damage personal property. Recouping the value of your belongings allows you to replace anything beyond salvage. This helps renters keep their life on track and provides support during the rebuilding and repair process.
What about additional coverage?
You may own items that are especially expensive and hard to replace; will the basic coverage offered by your policy be enough? Some people choose to purchase additional coverage for very expensive items or to more thoroughly cover items that are prone to theft. These items can include firearms, jewelry, and power tools; in some cases, a policy’s basic terms will only cover a portion of the policy holder’s belongings. Additional coverage can be easily obtained; bolt insurance offers rates for all insurance products, including the additional coverage that many clients are specifically concerned with. We make it simple for you to obtain the information necessary to adequately cover all your most important belongings; be reassured that excess coverage is easy to obtain. We can help you find exactly the right line of coverage, regardless of your personal circumstances.
Do you really own enough to warrant renters insurance coverage?
Sometimes prospective insurance buyers doubt that they own anything worth protecting or that their belongings do not add up to a value that warrants buying insurance. Creating an itemized list of belongings is a helpful exercise that opens the eyes of many potential insurance clients. Even items that were purchased a few years ago are likely to have enough value to warrant coverage with insurance. Renters should realize that a landlord’s property policy will not cover renters; this means that renters are likely to be left entirely without support following any kind of accident unless they have insurance coverage of their own.
Protecting personal belongings is a sound strategy. Not only can it take a surprisingly long time to replace items that were damaged as the result of fire, smoke, or accidental water damage doing so can take much more money than people realize. The true value of items is often never considered until after those items are gone; renters should take steps to ensure that they have a policy that truly meets their needs. Then they can enjoy peace of mind knowing that an insurance policy is working hard on their behalf.
bolt Insurance has helped customers across the country access accurate, timely data regarding coverage quotes; we are here to support people who are trying to find the right policies for their needs. Signing up for the right form of insurance coverage provides valuable peace of mind and offers financial support during uncertain circumstances. Speak with a bolt agent to learn more about your coverage options