The average renter owns $20,000 worth of personal belongings yet an average of 31% of renters are insured. Renters insurance is low cost (around $15 per month).
Know Your Renters Insurance Coverage
What can my Renters Insurance cover?
- Coverage for your personal property from loss, damage or theft.
- Personal Liability
- Loss of Use
- Coverage for valuable items by endorsement
What is likely excluded from my Renters Insurance?
- Ordinance or Law
- Earth Movement
- Water Damage
- Power Interruption
- Nuclear Hazard
- Intentional Loss
- Governmental Action
- Criminal Acts
- Diminshed Value
- Fungi, Wet or Dry Rot, or Bacteria
- Business Use
Content is for educational purposes only and is not an offer of coverage. Please read and understand your specific policy coverage and exclusions.
Novallus Insurance Tips
What to consider when selecting your coverage.
- Take a quick inventory of your belongings.
- Photos help.
- Don’t forget your valuables.
- Tell your agent if you have a pet. Exotic animals, animals with a bite history, and certain dog breeds may be prohibited.
- Personal property in your auto is generally excluded from auto insurance policies. Your golf clubs, computers, and bicycles should be insured on your renter’s policy.
- Bundling car and renters will save you money.
Dan left his laptop and golf bag in his locked car when he went in to the restaurant for dinner. When he arrived at his car after dinner he found his passenger window smashed and the laptop and golf bag were missing. He called the police and filed a report. He talked to his agent. His auto policy doesn’t cover personal property but he bundled his renters insurance so he made the theft claim on his renter’s policy.
Renters insurance is for all renters and is priced right; get it to protect you and your stuff!