Tag: renters insurance

All around Lynnwood, WA, individuals, couples, and families are choosing to live in rental homes. Whether it’s a house, duplex, apartment, or condominium, renting has long been a popular option. A common question for those planning to rent, especially first-time renters, is: Why get insurance when the landlord already has coverage? At Securum LLC, we’re here to explain why having a renter’s insurance policy is beneficial in more ways than one.

Owner vs. Renter Insurance

It’s true that landlords typically have insurance coverage. Even if the landlord lives in one of the rental units, they likely have both homeowners’ and landlord insurance. However, here’s what renters need to understand: the landlord’s homeowner policy covers their personal residence, while their landlord insurance policy covers certain aspects of the rental property. This includes the rental building, outbuildings on the property, damage or destruction to the property, loss of rental income, and liability coverage. Notably, a landlord’s policy does not cover a tenant’s personal belongings.

By purchasing a renter’s insurance policy, you’re protecting your personal belongings from unexpected events like fires or theft. If unforeseen circumstances require you to relocate temporarily, renters’ insurance can help cover those costs. Additionally, liability coverage is an important feature of renters’ insurance, as it can help cover medical expenses if someone is injured while visiting your home.

Contact Securum

At Securum LLC, our agents are committed to answering all your questions. We’ll walk you through the details and benefits of a renter’s insurance policy, so you can feel confident in your Lynnwood, WA, rental knowing your belongings are protected.

Shopping for renter’s insurance requires careful consideration. You want to ensure that you have a policy that provides enough coverage for your personal needs, and some renters may have greater needs for coverage than others. If your personal property is quite expensive, for example, it’s important to ask whether any policy you buy will be able to cover these belongings automatically or if there are limits. Before you purchase renter’s insurance, let’s take a closer look at this aspect of renter’s insurance policies. When you’re ready to find the right policy, you can get started with us here at Securum LLC in Lynnwood, WA!

Is There a Coverage Limit for Personal Belongings When You Get Renter’s Insurance?

It’s important to know upfront that there are often two limits for coverage: the full coverage limit and sub-limits. The full coverage limit for most will suffice, ranging from as low as $10,000 to $500,000. However, many policies have sub-limits. If you’re someone worried about their jewelry being stolen or damaged, you will want to pay attention to these sub-limits as your policy may only cover up to $1,200 in jewelry, for example. More than that, certain belongings that are deemed to be quite valuable may require separate insurance to cover them as they may not be covered under normal policies. To put it plainly, there are not only coverage limits, but coverage sub-limits and even exclusions that could affect the safety of your belongings. Pay attention to all these to ensure you get the coverage you deserve.

Start Shopping for Renter’s Insurance With Securum LLC

Are you more knowledgeable about renter’s insurance and ready to find a policy that works for you? The team here at Securum LLC in Lynnwood, WA, is always ready to connect you with a policy that’s right for your needs. Compare quotes with us today or contact us with any questions you may have!