$16 a month is a very modest amount for $125,000 of coverage. Everyone who rents should have renters insurance covering
their belongings both inside and away from their apartment.
What is it? Renters insurance provides
both liability coverage for you and your family and coverage for your personal property,
your belongings, both inside and outside your apartment. The apartment building you live
in is insured for damage to the structure. This coverage does not
include your property; furnishings, clothing, stereo, car, camera, and so on.
Why do I need it? The owners insurance policy does not cover you. The type of events that
are usually covered by Renters Insurance are;
- The building catches on fire and your belongings are lost due to water, smoke, and fire
damage.
- An electrical power surge toasts your computer, the 42' TV, and the new stereo.
- The bad guys clean out your apartment while you are on vacation.
- You have additional housing and eating expenses while the insured residence is not
habitable due to an insured loss. You are in a hotel while the building owner rebuilds
your damaged apartment.
- Personal property away from home is damaged, destroyed, or stolen. In your car, at a
friends house, on vacation, etc.
- You damage the property of another person.
- You clobber your golfing partner with you back-swing. Personal liability protection
against claims caused by unintentional acts on or off your insured premises.
- Someone injures themselves in your apartment.
Optional extras: You can often get,
earthquake coverage, additional liability coverage (this is usually a few dollars a month
more and is worth considering), increased property limits.
Where can I get it? Most
insurance companies will provide Renters Insurance. Shop around. Compare rates and
coverage.
Barbera Insurance:
Benny Grissom (510) 523-2924
.......Independent:
lots of different insurance companies.
Farmers Insurance: Glen Hazen (925) 463-6560
..................................Local Representative for the Farmers Ins. Co.
What does it cost? Each insurance
company will have specific coverage which will vary. But $25,000 of property loss coverage
with $100,000 of personal liability coverage recently was quoted to us at $16 to $19 a
month. This will vary based on location and company. Discounts: For non smokers (you did quit right?), if
you have auto coverage with the same company, a smoke alarm, deadbolt locks, etc. may all
qualify you for a discount.
insurance facts:
A testimonial....... "No one likes to think they will need Renters
Insurance. I didn't think I would when I parked my car in San Francisco on a nice street
in Pacific Heights to visit a friend. When I came back it was gone. In the trunk; my
camera, a weeks dry-cleaning, my cell phone, etc. I was surprised to find my auto
insurance did not cover this stuff. But my Renters Insurance did." Don't leave home
without it!
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