Why You Need Renters Insurance
If you’re renting an apartment, house, or condo, renters insurance helps keep your property and belongings secure. Many renters believe that they are protected by their landlord’s homeowners insurance, but this is a common fallacy. Typically, a landlord’s insurance policy will only cover the physical structure of the property and not the tenant’s personal property. If there is a fire, all your possessions could be destroyed with no protection. Choosing the correct renter’s insurance policy not only protects your property and belongings but also provides you with the peace of mind that your belongings are safe. Generally, renter’s insurance is less expensive than many people realize and is a small price to pay considering it can save you thousands in damages. Request your free quote to get an idea of what your yearly cost would be.
Renters Insurance Policy Protection
Renter’s insurance generally covers damage or loss due to the following perils:
- Fire or lightning
- Windstorm or hail
- Falling objects
- Weight of ice, snow, or sleet
- Freezing of plumbing, heating, or air conditioning
- Short-circuit damage
- Damage by vehicle
Renters insurance is an easy, inexpensive way to protect your personal belongings from loss and damage. Take a few minutes to get a renters insurance quote today.
What Rental Insurance Will Not Cover
As with most insurance policies, there are some damages that will not be covered under renters insurance.
Typically rental insurance won’t cover:
- Floods, earthquakes, or mudslides
- Nuclear hazards
- Intentional loss or intentional destruction of property
- Government action such as seizure of property
* In some coastal regions you may need to buy additional coverage.
Renters Insurance First steps
Before shopping for renters insurance policies, conduct an inventory of all your property and personal belongings. Items such as furniture, electronics, expensive jewelry, and clothing. Calculate a replacement cost and value to these belongings. This will help decide how much liability and renter’s insurance coverage you will need.
Ways to Save Money on Your New Mexico Renters Insurance
Similar to homeowners insurance policies, your renter’s insurance premium depends on a number of factors.
- Pick your location carefully: you will pay less money if you live in a less risky, low-crime area.
- Raise your deductible: this means you will pay more up front in the case of damage, but will keep your premiums lower.
- Improve your credit score.
- Ask for discounts on preventative measures such as smoke and fire detectors, deadbolt locks, and security systems.
- Non-smokers generally pay lower rates.
Get the Renters Insurance coverage you need today, don’t wait until it’s too late
Grindell & Romero’s team of trained agents are here to help assist you in finding the best renters insurance policy for you. We will guide you through the process of finding the best insurance at the best price. Contact us today to get started with your free renter’s insurance quote.