Like most insurance policies, renters insurance offers an intelligent financial option – but the ultimate decision depends on one’s circumstances and priorities. According to the insurance professionals at Coosa Valley Financial Group in Rome, GA, these factors should be considered when deciding on renter’s insurance.
In addition to offering peace of mind by appropriately preparing for unanticipated events that may cause financial loss at an affordable price, insurance for renters offers the following value and benefits:
Liability Coverage
A renter’s policy typically includes a provision to protect the policyholder should they unintentionally injure someone or damage another’s property.
Personal Property Protection
This type of insurance policy provides protection for the damage/loss of personal belongings for a covered event:
- Fire
- Theft
- Vandalism or other natural disasters.
If you possess expensive and valuable items (should they need replacing), a policy designed for renters will offer financial protection.
Maybe a Landlord Requirement
As a provision in the lease agreement, some landlords require tenants to maintain a renters policy.
Other Renters Insurance Policy Considerations
Review and understand the renter’s policy’s deductibles and coverage limits. Ensure the policy you select meets your budgetary and financial needs. Check out potential premium discounts that may be available for the following:
- Choose to bundle multiple policies (combine an auto and renters policy)
- Install a security system.
- Non-smokers, etc.
Discounts like these can help reduce the cost of a renters insurance policy.
Call a Leading Rome, GA Insurer
Remember to consider your rental property’s location, as this will help determine the policy’s value based on the existing risk of natural disasters (e.g., hurricanes). For more information regarding renters insurance, contact a licensed team member at Coosa Valley Financial Group at 706-235-2289 or online.