menu

Insuring Renters

Many renters think that they can avoid carrying a home insurance policy since they don’t own their home. According to a 2016 poll conducted by the Insurance Information Institute, only about 41% of renters current carry a renters policy. There is certainly much less to insure when you are a renter but this does not mean you can skimp on a policy all together.  We also have many carriers that will give you a discount on your auto insurance policy for having renters insurance.

The owner of the building only needs to carry insurance for the physical structure of the home. This leaves everything on the inside, including your electronics, furniture, clothes, and jewelry, uninsured unless you purchase your own renter’s policy. Without the protection of a renters insurance policy you are leaving yourself open to the risk of high out of pocket expenses in the case of a loss, such as a robbery or fire.

Why you need Renters or Apartment Insurance.

The cost of replacing all of your belongings can certainly add up and surprise you. Even if your items are older models or not currently worth much, you will want to think of the cost it would take to refit your home with all new items. 

A renters policy can cover all of your personal possessions including electronics, small appliances, sports equipment, photography equipment, furniture, clothing, kitchenware, and books. Some items like computers, jewelry, furs, watercrafts, and firearms can be added to your policy with special endorsements.

A typical renters policy is very affordable typically costing $100 – $250 for the year and can save you from major unwanted expenses down the road. On top of covering all your belongings, you also benefit from the personal liability protection found on a homeowners policy. This portion of your policy will protect you from any lawsuits against you resulting from a visitor getting injured on your property.

Besides the main coverages of personal property and personal liability, there are a handful of other options you can add to your renters policy. Here is a list of our favorites:

  • Family liability
  • Guest medical protection
  • Additional living expenses
  • Temporary Housing

It is important to consider the costs of replacing the items in your home. The last thing you’d want to happen is be faced with the cost of replacing the contents of your home in the event of a total or partial loss.

We encourage all renters to spend just five minutes with a calculator to add up the cost of replacing everything they own. What if you came home tomorrow and your apartment had burned down? Where would you go? How would you pay to replace your clothing, furniture, and appliances? When you ask yourself what renters insurance covers, you can relax and say yes to all of the above.

The Foy Insurance Difference.

Now is the perfect time to get your no obligation quote for an renters insurance. Do an instant quote, complete the contact form or give us a call today.

We encourage all renters to spend just five minutes with a calculator to add up the cost of replacing everything they own. What if you came home tomorrow and your apartment had burned down? Where would you go? How would you pay to replace your clothing, furniture, and appliances? When you ask yourself what renters insurance covers, you can relax and say yes to all of the above.

Foy Insurance is home to 13 different locations all across New England. We are your neighbors and your friends. Contact us today so we can protect the things you care about most.

We offer more than just a policy

See what we can do for you today