Renters insurance is also sometimes called apartment insurance or tenants insurance. But regardless of what you may call it, renters insurance can be purchased to cover nearly any type of residence that you rent including an apartment, townhome, condo, or even a single family home. Depending on the type of dwelling and where the property is located, renters insurance may also cover personal property in your garage or storage unit.
Personal Property Insurance
Unfortunately, renters insurance is all too often overlooked. Many people mistakenly believe that if anything bad were to happen at the home the rent, the landlord’s policy would cover the losses. It might surprise you to learn that your landlord’s insurance policy covers their loss and won’t reimburse a renter for the loss of their personal belongings in most cases. The landlord’s insurance provider will pay to repair or rebuild the rental unit, but won’t pay for your damaged or stolen property.
Think about all the personal items that you probably have in the home you rent: furniture, electronics, clothing, jewelry, collectibles and more. If something were to happen, and you didn’t have renters’ insurance, you would likely have to pay for repairing or replacing all of these items yourself.
It is important to note that there are limitations on renters insurance policies for items such as jewelry, guns, collectibles, and more. If you have a valuable collection of anything, be sure to let you agent know as they may suggest scheduling these items separately.
With the right renters insurance policy, you can feel secure knowing that if your personal property was damaged or stolen, your losses could be replaced, recovered or at least, reimbursed. Mooney Insurance has helpful agents that can help you find the best renters insurance for where you live, your financial situation, and unique lifestyle. In addition to offering advice on your best coverage choices, our relationships with many insurance providers allow us to find just the right renters insurance policy for your situation.
Personal Liability Insurance
Probably more importantly than personal property coverage is the fact that without renters insurance you don’t have any personal liability coverage whatsoever. As mentioned above, if your landlord was found responsible for an accident, his or her property insurance would provide coverage. But if you were found to be a party to an accident, whether it happened at home, or anywhere in the world, you would be without coverage. An often overlooked fact is that renters insurance provides you with worldwide personal liability coverage. So if you found yourself in court, negligent for an accident such as your dog biting someone, personal liability coverage is something that you’ll be glad you have in place.
Bundle Renters Insurance with Other Policies for Savings
Many Arizona renters need more than just renters insurance. They may also need auto insurance, umbrella insurance or even motorcycle insurance. If you find that to be the case, multi-policy discounts may be available when you bundle several personal policies together through Mooney Insurance. Ask one of our agents about bundling your auto insurance with other personal insurance policies to see how much money you can save!
Contact Mooney Insurance for a Renters Policy Quote
Protect your finances as well as your personal property, auto, motorcycle or other possessions with Mooney Insurance. One of our experienced agents can help you find the right renters insurance coverage and other personal policies to suit your life situation to help give you peace of mind. Contact us today to receive a personalized, no-obligation, insurance quote and consultation – You’ll be glad you did.