Different tenants face different insurance choices. That’s why you need a different kind of insurance team.
Renters insurance covers three things: personal property if it gets damaged or destroyed, liability if you cause someone injury or damage some else’s property, and living expenses if your home becomes temporarily uninhabitable and you have to live elsewhere for a while.
But within each of those three categories, there are variables.
For example, will your renter’s insurance cover possessions you take outside your home, like a laptop you leave in your car? Or a friend’s property they let you borrow?
What happens if there’s a power outage or your refrigerator breaks down? Will all the spoiled food be covered?
What about damage caused by bugs, rodents, and other pests?
Will you have expensive jewelry, antiques, high-end appliances, or expensive electronic equipment on the premises? Basic renters policies cover them only up to relatively low limits, so you may need to buy additional endorsements.
Got a roommate? Is it better for you both to share a joint renters’ policy, where you split both the premiums and any payouts? Or for each of you to have a separate policy that costs more with higher premiums and full payouts?
Running a home-based business? If it brings in more than $2000 a year, your business equipment won’t be covered unless you extend your coverage with an at-home business endorsement.
Different policies have different kinds of payouts. Replacement cost policies cover the full cost of replacing your damaged or stolen property. Actual cash value policies pay out at depreciated value. So you’ll need to choose between higher premiums and higher payouts.
As the name implies, all-risk policies cover loss or damage for virtually any kind of peril (with a very few specified exceptions), while named perils policies cover only a much shorter list. Again, there’s a choice between cost and coverage.
Got a pet dog? In 2017, insurance companies paid out an average of $37,000 per dog bite liability claim. So you might want to pay more to up your liability limits. If your dog’s a Rottweiler, pit bull, mastiff, or one of 12 other breeds, you might not even be able to get renters insurance at all – or settle for buying a separate canine liability policy.
With all those variables and more, you need an insurance team that does more than just fill out your forms and take your premium check.
Resolve Insurance has built a different kind of team to design insurance planning that meets your specific needs, whatever those needs may be.
It’s a team with over 80 years’ combined client service, carrier relationship, risk management and claims service experience.
A team that focuses on both learning and educating. Learning from you about your specific needs for today and your plans for the future. And educating you about insurance options that meet those needs today and help you achieve your goals for tomorrow (or at least until the end of your lease).