You just moved into a new apartment in Brevard, NC and you’re wondering whether you can get insurance to cover your property even though you don’t own the place. The good news is you can. At Brevard Insurance Agency Inc., we often assist tenants looking for the right renters insurance for them.
What Is Renter’s Insurance?
Renters insurance covers your personal belongings if you lease an apartment or house. Typical policies cover your belongings, yourself and your living arrangements in the event of a covered loss. Even if you don’t think you own anything valuable, you might be surprised how fast things add up.
If your apartment caught fire tomorrow, you might have to replace clothing, furniture, kitchenware, towels, sheets and numerous other items. Even if you don’t have an extensive wardrobe and bought everything secondhand, the replacement cost for your belongings can total thousands of dollars.
How to Calculate Your Coverage Needs?
Take the following into consideration when you were calculating the amount of renters insurance you need:
- Make a list of items you would have to replace and the retail price to replace them. A simple Google search can help you obtain an estimate for most items.
- Once you have a total, add 25 to 50% because there are probably things you’ve forgotten about, and prices go up every year.
- Take pictures of your property so that you have them in the event of an emergency and store them someplace other than your apartment.
- If your apartment becomes uninhabitable, you’ll have to find other accommodations quickly. This could mean staying at an expensive hotel or Airbnb until your apartment is fixed or you find a new place to live. Factor this cost into your insurance coverage needs.
Chances are the cost of renters insurance is cheaper than replacing everything you own and paying for lodgings while you sort out your living situation. Contact Brevard Insurance Agency Inc. to set up a meeting for a renters insurance quote to cover your costs.