Why renters should have renters insurance

Rental insurance is something that a little less than half of renters choose not to have. It is risky since most of your possessions are probably in your rental. At Richard Zeises Agency in Jenkintown, PA, we have our renter’s best interests at heart, and we are happy to explain why it is something you probably should have. 

If you think your landlord or management company has insurance covering your possessions, you are wrong. They have insurance on their building and what belongs to them. They are not paying to insure what belongs to you. If you want to protect your possessions, you need renters insurance. 

Coverage for your Possessions

Renters insurance has valuable coverage for your possessions. You can choose what type of coverage you want and how much you should have. You can cover your things for their current value or replacement cost. Those two figures are not the same. Chances are, your seven-year-old sofa isn’t valued at an amount that would allow you to replace it today. Your renter’s insurance also covers your possessions when you take them away from home. So, if someone steals something from your car, you’re covered minus the deductible.

Protect Against Injury

Renters’ insurance also provides liability coverage. If someone decides to sue you over an injury at your rental or they are injured away from the rental by a family member, your insurance will cover you up to the policy’s limit. 

Uninhabitable Home

Have you ever considered where you would go if your rental was damaged and was not habitable? Renters insurance provides loss-of-use coverage to help you find a place to stay until you can return to your rental. It may also pay for meals. 

Contact our team at Richard Zeises Agency in Jenkintown, PA for help with any questions you have about renters insurance. 

How Much Renters Insurance is Sufficient?

If you are a tenant in Jenkintown, PA, don’t be like most renters who overlook renters’ insurance because they think the landlord’s insurance covers them. While the landlord may have insurance, this only covers the dwelling but not your assets. To ensure your assets are well-covered, you have to purchase renters insurance from Richard Zeises Agency.

But how much renters insurance should you buy? Often, we have seen policyholders encounter a disaster only to find out that their underlying insurance covers part of their loss. Buying insufficient insurance can hit you hard when calamities strike.

How much content coverage do I need?

Renters insurance compensates you for the loss or damage to your assets. But for you to ensure all your assets are covered, conduct a room from room inventory count to ensure nothing is missed. Once your inventory count is done, value your items and get coverage covering all your stuff.

The next thing is to decide the amount of deductible you need. We usually tell our clients to consider a deductible they can afford. Please don’t go too high, as it can mess up your liquidity. Also, please don’t go too low as it will raise your premiums. We will help you strike a proper balance between the deductible amount you need and the premiums to pay.

How much liability coverage do I need?

Renters insurance protects you and your loved ones when you cause bodily injury or property damage to others. Most renter’s insurance policies give $100,000 in liability coverage. While this may be sufficient for most renters, we advise our clients to raise the amount to $300,000 if they have a dangerous pet or throw parties in their dwelling. Umbrella insurance is an excellent option for those who need super-high liability coverage.

Still fumbling with the amount of renters insurance you need? If you are in Jenkintown, PA, please contact Richard Zeises Agency for personalized advice.

3 Benefits of Renters Insurance

It’s the dream of many people to own a home. But with the changing world, the autonomy given by rental houses is just the bomb. Renting a house gives you the freedom of moving from one place to another, yet you have somewhere you can call home. For homeowners, home insurance protects them. What about those who rent apartments or condos? That’s where renters insurance comes into play.

Many people assume that their landlord’s insurance protects them against perils like theft, vandalism, and fire. The reality is that the landlord’s insurance covers the building but not the contents. In light of this, you need to purchase renters insurance from Richard Zeises Agency of Jenkintown, PA. This way, you will enjoy the below benefits. 

Liability coverage

Liability coverage covers you in the event someone got injured in your home. It also protects you or anyone covered in the policy if you accidentally injure someone. This coverage pays for property damages, bodily injury costs, and even legal expenses up to your policy limit.

Provides cover for your belongings

Perhaps this is the most important reason for having renter insurance. Your belongings are a fortune. Think about your electronics, clothing, sporting gear, furniture, and so on. Renters insurance protects your assets from loss or damage even when disaster strikes outside your house. 

Provides additional living expenses

If your rented condo or apartment becomes uninhabitable due to a covered peril, your renter insurance may cover your additional temporal living expenses as the house is undergoing repairs. It will help if you discuss the additional living expenses coverage with your insurance agent to be on the safe side.

Renters insurance in Pennsylvania

Are you ready to buy renters insurance in Jenkintown, PA? Look no further than Richard Zeises Agency. Contact us today for an affordable quote. Besides, you can visit our offices to chat with our agent team.

What does renters insurance cover

Jenkintown is a great place to live in. It has top-rated schools and offers all the benefits of a small town within an easy commute from Philadelphia. While most people in town own their own homes, those who rent need to be familiar with the benefits provided by renters insurance. While a renter doesn’t need to worry about having insurance on the physical structure of the building where they live, all of their possessions are their responsibility to protect. The Richard Zeises Agency has been offering exceptional service to the residents of the area for more than 40 years. You can count on us to put your needs first and provide the information you need about renters insurance. 

Loss of use

If your rental is damaged so severely by a covered hazard that it can no longer be lived in, you will need a place to stay. Renters insurance can help by paying for a hotel until you can find a temporary rental. Knowing you will have a roof over your head helps to relieve some of the stress these types of events cause. 

Personal property replacement

Before you can move to another temporary rental, you may need to replace a lot of things. It would help if you had clothes to wear and furniture to furnish your rental. You may need to replace your laptop and other electronics. Imagine having to purchase everything you need to cook. It is all quite overwhelming. 

Liability coverage

Liability coverage protects you from the results of legal action against you by someone who was injured by you or a family member, or while visiting your rental. Legal fees and medical fees are also covered. 

 If you live in or near Jenkintown, PA, Richard Zeises Agency looks forward to welcoming you to our family of customers. Give us a call or visit our office for a free quote and any additional information about renters’ insurance that you require.