Navigating the Arizona renters insurance market can be intimidating, especially if it’s your first time dealing with insurance. Starting your adult life is stressful enough, particularly financially. Even if you choose to rent instead of buy in Mesa, it’s still important to protect your hard-earned assets. Accidents happen and that’s why you should consider purchasing renters insurance. It is an inexpensive way to provide peace of mind and know that if fire, theft, or other damage occurs inside your place, you’re covered. It’s a good precaution against the unknown. There are many advantages to renters insurance, but if a peace of mind isn’t a good enough reason, INW Insurance Group can give you a few more.
Renters Insurance is Low Cost: The average annual cost for renters insurance in Arizona is only $195, which puts your average monthly payment at $16.25. This makes renters insurance affordable regardless of where you live. Chances are you can also increase your coverage for just a few bucks more.
Covers Property: Renters insurance covers the contents of a home including clothing, furniture, and electronics. As a rough guide to the dollar amount of coverage you should buy, add up the cost to replace all the major items in your home: appliances you own, computers, other electronics and furniture, and then double that amount.
Sometimes it is Required: Although renters insurance is not usually required by the terms of some leases, you may be required to have insurance to cover your liability exposure if someone is injured on the premises, or if damages occur from items owned by you, such as waterbeds. The landlord can, in fact, require you to have liability insurance. When signing a new lease or after proper legal notice for a month-to-month rental agreement, the landlord can even lawfully change the terms of the agreement to require renters insurance. This may be particularly important if you have animals, or if the property contains a pool.
Provides Liability Coverage: The liability component might be the biggest reason to get renters insurance because it can protect you from financial loss. Renters insurance can cover you in a lawsuit if someone injured in you home. Some common liability cases include:
- Dog bites
- General pet damage
- Slip and fall
- Causing a leak or fire in another residence
- Accidentally injuring another person
Additional Living Expenses: Another feature included in most renters insurance policies is called additional living expenses coverage. If you can’t stay in your apartment after a fire, burst pipe, or other disaster, this coverage will pay for temporary lodging.
Covers Belongings When You Travel: If your luggage is stolen while on vacation, for instance, some policies will reimburse your losses, and it is common practice for insurance companies to cover belongings stolen from your car.
It is important that you take your time and find the right policy. Our agents here at INW Insurance Group will be more than happy to help you find the best rate with the quality coverage you need.