Renters Insurance
What Does Renters' Insurance Cover?
Renters' insurance is an insurance policy that covers your personal property — like computers, TVs, electronics, bicycles, furniture, and clothing — both inside and away from your apartment, condominium, or rental home. For example:
- Accidents: impacts from vehicle, falling objects that hit your property, fire, smoke, water damage from plumbing or appliances
- Weather impacts: weight of snow, sleet, or ice; lightning, windstorms, hail, and water damage from freezing of plumbing systems
- Malicious mischief: vandalism, theft, riots or civil commotion
Special coverage limits apply to certain types of personal property, including:
- Boats and other watercraft equipment
- Money, bank notes, and coins (including collections)
- Property used or intended for use in a business
- Securities, checks, travelers checks, gift cards, phone cards
- Stamps, trading cards, and comic books (including collections)
- Theft losses of jewelry, furs, firearms, silverware and goldware, rugs, tapestries, and wall hangings
Liability
A renters insurance policy also covers liability you may have in the event of a covered claim which causes bodily injury or property damage. It may also provide payment for legal defense against any covered claims or lawsuits.
You may also be covered for medical expenses (up to the limits in the policy) for people on your premises who are injured in an accident.
Loss of Use
When your home is damaged and you’re unable to live in it due to an insured loss, this coverage provides additional living expenses for the shortest time needed to repair (or replace) the premises, or for the people in your household to settle in another home for a pre-determined amount of time.
How Much Renters' Insurance Do I Need?
The cost of renters insurance and the amount of personal property coverage you need depends on how much your property is worth.
To get a better understanding of your coverage needs, ask yourself the following questions:
- How much are my belongings worth?
- Could I afford to buy it all back again if it were destroyed in a fire or stolen?
- What would I do in the event of a liability lawsuit against me?
It is always suggested that you keep an up-to-date inventory of your personal belongings. Be sure to keep a list in a safe place such as online or away from home. Consider adding photos to help when you have a claim.
Discounts
Save when you bundle auto and renter’s insurance. Most carriers offer a discount when you purchase your auto and renters insurance policies together.
While we are located in North Plains, Oregon, we serve clients all across Oregon, Washington, Idaho, Montana, & Utah.
