There’s Something You Should Think AboutWhat do you think your belongings are worth? Conducting a thorough home inventory might be an eye-opening experience since the value of your furniture, DVD collection, clothing, books and moveable appliances can really add up. Without coverage, replacing these items could be a real financial hardship. With renters insurance, you are covered. Plus, if you have valuables such as expensive jewelry or collectibles, an endorsement to a renters insurance policy can add to the policy’s provisions. This means that in the event of a covered loss, the amount of insurance is enough to cover the repair, replacement or cash reimbursement of the item. That also means that your expensive camera equipment or wedding ring can be covered, too. Renters insurance provides protection against both property loss and liability (in the event that you cause injury or property damage). To learn more about what that means, we’ve covered some basics about each. |
Property ProtectionRenters insurance covers your possessions against damage for things such as fire, smoke, lightning, vandalism, theft and water damage (but not flooding)—to name a few. |
Liability coverageIn addition to protecting your personal property, renters insurance also protects you in the event that you are responsible for injury or property damage to others. That means you’ll likely be protected if someone slips and sprains their ankle at your annual birthday bash. Liability also provides coverage for legal defense costs and judgments in a lawsuit, whether the incident occurred within your rented residence, or elsewhere. |
Coverage optionsThere are two personal property coverage options to choose from: replacement cost value or actual cash value. We recommend insuring your personal property for its replacement cost value. Here’s an example to illustrate the difference:
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Contact PDCM Insurance today at 319-234-8888 to learn more about all of our personal risk management and insurance solutions for your home, auto and life.
Why You Should Think About Renter's Insurance by PDCM Insurance