Everything you need to know about insurance basics, like coverage types, limits, cost and more.
How Do I Get Renters Insurance?
We get it — getting renters insurance probably isn’t at the top of your to-do list. You’re busy pursuing more important things, like that dream to own a house, saving money to travel the world or maybe even working on starting your own business. But it’s because of those things — your future — that renters insurance is so important to have right now. It’s an easy, affordable and convenient way to protect everything you work so hard for.
From protecting your personal property to shielding you with liability coverage, renters insurance is a no brainer. Let’s take a look at why you need renters insurance and how to get covered — it’s simple, we promise!
Do You Need Renters Insurance?
If by “need it” you mean “required to have it” — then nope. You don’t need renters insurance. Unless your landlord requires you to have a policy in place (and there are some landlords who require it) then you don’t necessarily need renters insurance. However, it can be a smart investment, considering it helps protect your lifestyle and your belongings. Watch this video for why a renters policy may be right for you, then keep reading to learn more about the value of having coverage.
Renters insurance covers your stuff
Your landlord’s insurance covers their building — not your personal property. In the event of the unexpected, like a fire or theft, things like your clothing, furniture, electronics and more will only be covered if you have your own renters insurance policy. Your belongings add up quicker than you think. Would you have enough saved up to pay out of pocket to replace everything you own?
You’re protected even when you’re on the go
Whether you’re at home or across the country, your policy follows you. Say your computer was stolen while you were at the coffee shop or your expensive camera was stolen while you were on vacation. Renters insurance has your back.
You’ll get additional living expenses
If your place becomes unlivable after a covered event, your policy covers your additional living expenses like a hotel and food.
You’ll be covered for liability expenses
Another perk? Medical bills and lawsuit-related expenses are covered if a guest is accidentally injured in your place — or if you injure someone away from home.
Renters insurance is affordable
You might be surprised to find out that renters insurance is actually not that expensive. In fact, you can often get a policy for less than one dinner out with friends a month. Consider it exchanging one brunch for priceless peace of mind.
So, while you may not be required nor need to have renters insurance, it’s safe to say you’ll definitely want it.
How to Get Renters Insurance
Getting renters insurance doesn’t have to be complicated or time consuming. Follow these steps and get the coverage you need in no time:
1. Understand your coverages
The first step to getting renters insurance is understanding what you’re getting. Research your coverage options and limits. A standard policy typically includes personal property coverage and liability, but you have options to purchase a variety of other coverages to broaden your safety net. Here’s a good place to start to better understand your options.
2. Estimate the value of your stuff
Think about your living space and do a quick calculation of everything you own. It’s probably more than you thought! Knowing the value of your belongings is key to choosing the right level of protection. Make sure you’re estimating their current value (not what you originally paid for them). Use our renters insurance calculator to quickly estimate what all your stuff is worth, as well as get a quick quote on what it’d cost to cover it all with renters insurance.
3. Research and compare insurance companies
Part of getting renters insurance is shopping around to find the right fit. Of course cost is important, but what else do you get from your insurance provider? Are discounts important to you? How about great customer service? Maybe you want to bundle your renters policy with an existing auto insurance policy. Take your time to find value in your decision.
4. Get a renters insurance quote
Now that you have a few insurance companies in mind, it’s time to start quoting. At American Family, you can get a quote online or by contacting an agent. We want to make sure setting up renters insurance is simple and convenient for you.
Where to Get Renters Insurance
Are you ready to start the renters insurance process? Connect with an American Family agent and they’ll help build you a policy that best fits your needs.