Whether you rent a lakefront home, a luxury townhouse or a contemporary new apartment, renters insurance is a vital part of securing your assets and belongings. Though it may not be required, foregoing renters protection could cost you thousands of dollars in the event of a major loss. Finding the right policy means choosing insurance that covers all of your bases, from liability to natural disasters.
It is wrong to assume that your landlord’s insurance policy will protect your own possessions after a fire or if your home is broken into. Yet many renters do just that, finding out too late that any personal losses are their own responsibility. Take the following examples:
A recent college graduate takes a new job as a young professional in the Springfield, Missouri area. She decides to rent an upscale apartment on par with her new standard of living. She purchases all new furniture for the apartment, as well as several original works of art. One day, a fire ravages the apartment complex, destroying everything in her unit. The landlord’s insurance will pay to rebuild the unit, but none of her belongings are covered. Without a renters insurance policy, she is left with nothing and forced to start over again from scratch.
It may seem unlikely, but renters file claims for covered incidents every day in the U.S. Sharing a building with other renters makes it more likely that your apartment could be damaged as a result of another person’s negligence. Not to mention, you could be held liable for losses or injuries occurring on your property or as the result of actions made by you, your pet, or someone who lives with you. Perhaps your child’s friend breaks his arm jumping on your trampoline. Would you rather pay the medical bills and legal defense fees out of your own pocket or redistribute the bills to your insurance company?
Renters Insurance in Springfield, MO
If you are renting a property in Springfield, make sure renters insurance is a part of your financial plan. At Tagge Insurance, we never leave our clients uneducated or uninformed about the risks of renting and the type of claims renters often encounter. Examples include:
- Lightning damage to electronic devices
- Roof leaks that damage your furniture, rugs, and bedding
- Slip-and-fall accidents that lead to medical bills, lost wages, and lawsuits
We can help you shop and compare renters insurance rates from several of the state’s most reputable insurers. Our job is to provide you with total risk management assistance, providing guidance for insuring your personal belongings and determining how much liability protection you might need to protect your current and future assets. Most renter policies include:
Personal Property Protection
Your personal belongings may be worth more than you know. Renters insurance can cover standard losses, and you can also include coverage for named objects, such as valuables, jewelry, or fine china.
Emergency Living Expenses
If damages to your rental home or apartment force you to find somewhere else to live, this type of coverage can help pay your hotel and restaurant bills until you can return home.
Liability and Medical Payments Coverage
A lawsuit can threaten your future wages, as well as your current savings and other assets. Liability and medical payments coverage pay for the medical bills and other losses experienced by victims in a case.
For more information about renters insurance, contact our office to speak with a representative today. We can help you find the coverage you want – likely for no more than the cost of buying dinner.