As a renter, you have personal belongings that have both actual and sentimental value. Renter insurance, like homeowners’ insurance, protects your belongings. It’s safe to say that renters’ insurance is a renter’s form of homeowners insurance. Your items are protected if stolen or damaged by a covered incident. Our team at Wichalonis Insurance Agency is committed to helping Cumming, GA renters understand renters insurance.

What is renters insurance?

Renters’ or tenants’ insurance is designed to cover your personal belongings while you rent. However, renter insurance doesn’t cover the dwelling or structure of the rented space, just your belongings. However, like any form of insurance, anything that happens to your belongings must be a covered incident for your renter’s insurance to pay for the repair or replacement of your items. Renters’ insurance may sometimes cover small changes or alterations made to a rented space. Renters insurance also pays for any items stolen from your car as well. 

Will renters insurance cover my roommate’s belongings?

No. Unless your roommate is on your renter’s insurance policy, her items aren’t protected by your insurance policy. Although you share the same rented space, only your items are insured. Your roommate will need to get her own policy or perhaps put it on your policy for their personal belongings to be covered. It should also be noted that renters’ insurance will not cover personal items you accidentally break or that break due to poor quality. Call us if you have questions about renters insurance and what’s covered. We’d be happy to answer your questions and explore your options. 

Renting a home or apartment in Cumming, GA means you’ll need renters’ insurance. Most landlords require this type of insurance in the lease because it protects them from loss and lawsuits.

What your landlord’s policy covers

This blog from Wichalonis Insurance Agency explains what your renters’ insurance policy covers and your landlord’s home policy. Your landlord requires renters’ insurance in the lease because their homeowner’s insurance only covers their own liability and damage to the structure. Their liability coverage only extends to the public areas of the home.

That doesn’t mean an injured party might not sue the landlord if injured inside the home. That’s why the leases require the renters’ insurance of the lessee.

What does your renters’ policy cover?

Your renters’ policy covers the liability inside the home or apartment. If your visitor or business associate becomes involved in an accident while in the house, your policy covers the liability.

Your insurance policy covers your belongings if a named peril, such as a fire or tornado. Your landlord’s home policy only covers their furnishings or built-ins.

Your renters’ insurance also covers your need for a hotel room or other temporary accommodations when the home you rent incurs damage. Not all renters’ policies include this provision, but you can ensure that the one you obtain from Wichalonis Insurance Agency does.

We can also help you with add-ons to your policy that help protect the expensive items you own, such as the engagement ring you purchased for your soon-to-be spouse. Other add-ons include a rider for home-based businesses and hobbyist coverage that offers protection for costly hobby equipment like surfboards or cameras.

Contact Wichalonis Insurance Agency

Contact Wichalonis Insurance Agency for a renters’ insurance policy that protects your liability and belongings. Let us help you protect your Cumming, GA home.

Renters insurance protects you and your personal belongings within your residence. Personal belongings include clothes, furniture, and jewelry. Each insurance policy contains a clause for the personal property should it be stolen or damaged by a covered event. Check your Cumming, GA renters insurance policy to confirm how much coverage your jewelry has, and then call the experts at Wichalonis Insurance Agency to learn more about covering your personal belongings. 

Jewelry Coverage

Renters insurance jewelry coverage differs a bit from that under a homeowners insurance policy. Jewelry coverage is limited to theft under a renters insurance policy. Renters insurance does not cover these items in the event of fire or storm damage. If the item gets stolen outside the home, coverage is less than being stolen from inside the residence. Additional coverage is available to cover expensive jewelry in your place. 

Increase Jewelry Coverage

Depending upon the jewelry you own, it might be beneficial to increase the renters insurance coverage and add endorsements for specific items. Renters insurance policies have coverage limits, but you can increase those limits by purchasing additional coverage. Coverage can be purchased for all of your jewelry or individual pieces, such as an engagement ring or family heirloom. If you need additional coverage for your jewelry, contact your insurance agent to discuss increasing your coverage. 

Jewelry Claims

Even with an enhanced policy to cover jewelry, your insurance coverage has limits on the claims you can make. Liability limits represent the maximum coverage available, and more personal property is limited between $20,000 and $100,000. Insurance policies also carry sub-limits for specific high-value items, such as jewelry. Check your policy for limits, including sub-limits. 

Ensure your jewelry is covered against any peril that may occur. Those in Cumming, GA, have options when buying renters insurance, including additional jewelry coverage. Call Wichalonis Insurance Agency today to discuss insurance options and how much coverage you have for your high-priced items. 

Are you a renter who is considered renter’s insurance coverage, but not sure where to start? Thankfully, our Wichalonis Insurance Agency team has put together a quick list of tips to keep in mind when purchasing renter’s insurance in Cumming, GA.

Tip #1: Select the Right Level of Coverage

The most important aspect of purchasing renter’s insurance is selecting the right level of coverage for your needs. This type of policy pays to replace your personal items if you’re involved in a loss, so it is important to choose an amount that would adequately cover everything you own. Not sure where to start? Sit down and make a list of your personal items—from your toothbrush to your television—to help come up with an appropriate estimate.

Tip #2: Choose a Deductible You Can Afford

In addition to selecting the right level of coverage for your needs, it is also important to choose a deductible you can afford. A deductible is an amount you agree to pay toward the replacement of items during a loss, so it is vital you select an amount that would be easy to obtain. Most people go for $500 or $1000, but you do have the option of going higher.

Tip #3: Know What’s Covered

What else do you need to know about renter’s insurance? What your policy covers, of course. Usually, this includes incidents such as theft, vandalism, fire, wind, and hail damage. However, earthquake and flood damage is usually excluded in most policies.

Renter’s insurance is a great way to make sure you’re protected in the event of a loss, even if you don’t own the physical building you live in. Speak with your local agent to learn more about this important type of policy.

Ready to purchase renter’s insurance for your apartment or home? Please contact our team at the Wichalonis Insurance Agency. We proudly serve the Cumming, GA area.