Why Renter’s Insurance Should Be On Your “Must Have” List

It seems that every time you turn around there are new clothes on the runway, new clubs at the sporting goods store, or a new kitchen gadget that does it all. Some of these items will likely make your “must have” list. One thing that should rise to the top of your list, however, is renter’s insurance. Calhoun Risk Management knows how hard you work for those special purchases, and our agents want to help you protect them.

Who Should Have Renters Insurance?

Every Minnesota resident that resides on rental property should think about obtaining a renter’s insurance policy. Renter’s insurance can protect you and your belongings in case of loss or damage. Some policies also provide liability protection.

…But My Landlord Has Insurance on the Home

Most landlords carry an insurance policy which protects against loss to the structure of a rental property. These types of policies usually do not provide any type of protection to the tenant or the tenant’s belongings in the case of fire, water, smoke, or other catastrophic damages.

What Does Renter’s Insurance Cover?

Renter’s insurance policies will vary depending on the coverage level that is right for your situation. Most policies provide coverage which will pay for the replacement of your damaged or stolen personal possessions. Other policies might pay the actual cash value of these items. Some policies might also pay for the cost of living while your rental is being repaired or rebuilt.

Will a Renter’s Insurance Policy Pay for My Fur, Jewels, or Gold-Plated Golf Clubs?

Policy limits will determine the maximum coverage per occurrence. If you are concerned about very valuable items, Calhoun Risk Management can discuss the possibility of adding a rider to your policy.

Calhoun Risk Management wants to be sure that your “must haves” stay protected. Contact us today for a free quote on renter’s insurance.