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.
