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Family in front of houseIf you rent your home, or have considered doing so because it seems to be the better choice for your circumstances, be sure to check into insurance for your belongings. This can be extremely helpful in recovering from theft, as rental homes are burglarized at a rate about 50 percent higher than owner occupied dwellings. The good news is that burglary is covered by all home insurance policies and most renter’s coverages as well, and a good insurance agent can help you decide which policy works best for your circumstances.

Why are most renters not insured?

Less than half of all renters are insured, even though Atlanta renters insurance is fairly inexpensive. It seems there are several reasons that renters find themselves uninsured, such as lack of income, lack of knowledge about the insurance available, or lack of knowing whether the owner’s policy covers them. Like everything else, the best thing you can do is a little bit of research toward informing yourself on the situation and doing what you feel appropriate to handle the situation, a good agent can be your best ally, as most renter’s policies cannot be purchased online. 

What will renter’s insurance cover?

While the type of insurance policy may vary depending on the insurance company, there are several things that are commonly covered by most policies. It you have an all peril policy it will cover nearly everything depending on the situation, even things such as damage to the dwelling caused by guests during a party. Named peril policies will typically only cover things like burglary, fire, hurricane, and wind storms and usually exclude all other problems. Your agent can spell out coverage options in more detail. 

Cost of renter’s insurance

While many people may be under the impression that renter’s insurance is costly, they would be wrong. In most areas, the average monthly cost of renters insurance is typically less than $20 a month. The monthly fees though do not include any deductible should you need to make a claim against your policy. Those deductibles can run as high as $1,000, but if talking about having to  replace an entire home full of furnishings, that would be a bargain.

Who needs renter’s insurance?

This really should not even be a question. If you rent your home, you should have some sort of protection in the event the worst happens. Even if your landlord has insurance on the dwelling, it typically will not cover any of your contents as a renter in the event of burglary or fire. With the low cost of renter’s insurance, it really should be a must have and not an option. It is simple and inexpensive to add renter’s insurance to your coverages by talking to a good insurance agent--we would be glad to help you decide what is needed. Call us at 877-997-2478 today and let’s make sure your things are covered.

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