You may not own your home, but you still have a lot at risk. When it comes to renting, it’s what’s on the inside that counts. Insurance from Patriot Insurance can help protect you and your personal belongings from the world outside as long as you reside in your apartment or rental home. We can even save you a little cash along the way.
Why Purchase Renters Insurance?
Whether you just leased your first apartment with a roommate or have been a tenant in the same home for years, renters insurance is one of the most important types of insurance you can purchase. It is created to protect you in ways your landlord’s insurance does not, whether your apartment is destroyed by a fire or you are sued by the parents of a child injured in your home. One major incident could cost tens of thousands of dollars – money you will pay out of your own pocket if you are not adequately covered.
Imagine, for example, accidentally leaving a candle burning after going out for the evening. It starts a fire, destroying your apartment and the unit next to it. Not only are all of your personal belongings lost, but your landlord and neighbor serve you with a lawsuit claiming you have liability to pay for their losses as a result of your negligence. Your personal and liability expenses total over $50,000. How would you pay the debt?
Renters Insurance Coverage
Renters insurance accounts for many different scenarios that could result in major loss or financial liability. It can include:
Personal Belongings Protection
How much are the contents of your apartment worth? The items you have accumulated over the years would probably cost much more to replace than you might think. Your renters insurance can provide payment for losses to furniture, appliances, décor, clothing, dishes, and more. You can even include special endorsements for high-value belongings like jewelry and furs.
Additional Living Expenses
When a disaster leaves you with no place to live, your renters insurance can come to the rescue. The last thing you need to worry about after a fire or other covered event is where you and your family will sleep at night. Additional living expense coverage can reimburse you for hotel bills, meals, laundry services, and more while your apartment or rental home is repaired.
If you are sued for another person’s bodily injury or property damages, your renters insurance might pay for your legal bills and any losses you are found liable for. This includes accidents that occur within your home, as well as incidents occurring as a result of your activities, your children, or your pets.
Saving Money on Renters Insurance
Why pay more for renters insurance when lower premiums may be available for the coverage you need? At Patriot Insurance, we know how to save our customers as much money as possible without sacrificing important protections.
Home Security Savings
Your safety is important. Many Minnesota renters insurance companies will extend special discounts for tenants who have home security features, such as smoke detectors, in-home sprinkler systems, fire extinguishers, monitored home security systems, and full-time property security guards. You may even get a discount for having a deadbolt on your door.
When you insure more than one line of coverage with the same insurance company, you save. Many carriers offer bundling discounts if you purchase other types of coverage, such as auto or boat insurance, along with your renters insurance.
Shop and Compare
When you use an independent agent to shop for renters insurance, you can save both time and money. At Patriot Insurance, we compare premiums and coverage from multiple insurers. We will quote you the most competitive rates from highly-rated, reputable insurers you can trust.