The Washington Insurance Team - Renters Insurance 101

The Washington Insurance Team - Renters Insurance 101
Renter’s Insurance
Most young people living in Apartments or even rental homes do not think about how much they have in Personal Property Assets.

Typically, once I tell them to close their eyes and pretend that they can take the “lid” off of their home and turn it upside down, and everything that fell out and wasn’t attached to the building would be their personal property. Usually, they start off saying not much or $2000 or somewhere around there. When they start thinking about their music, their computers, their video games, their furniture, etc… it’s amazing how high up they suddenly go.

It is often like that with homeowners as well… They just have a lot more room for a lot more stuff.

Most people often do not realize that their personal property in their auto is covered by most renters’ policies.

Young renters typically don’t think about having a party and someone getting ill or hurt on their property and winding up in a lawsuit. liability is just as important for a renter as it is for a homeowner. Hardly anyone is aware of the reason why most landlords are now requiring renters to have a Renter’s Policy. Landlords want you to have renters so they can sue you for fire damage or any other major damage you accidentally caused to their property.

Comparing the Value of a Renter’s Policy vs. the Cost of a renters policy, vs. the cost in liability if you don’t have a Renters policy… It really is a no-brainer.