Renters Insurance

Being a renter may require less responsibility than being a homeowner, but you should still consider an insurance policy to protect yourself and your assets. A renters insurance policy is a group of coverages designed to help protect renters. It typically includes coverage to help cover your belongings and living arrangements after a covered loss. 

What Does Renters Insurance Cover? 

 

Renters insurance typically includes three main types of coverage, including the following: 

• Coverage for personal possessions can help cover your personal belongings, such as clothes, furniture, electronics and other items, from covered losses.
• Liability protection may help cover medical costs and legal fees if someone is injured in your rented home.
• Additional living expenses may help pay for another place to live if your rental home is damaged and uninhabitable.  

Some situations that may be covered by renters insurance include: 

• Theft
• Fire
• Natural disasters
• Vandalism
• Damage from a leaky pipe 

Is Renters Insurance Worth It? 

 

Renters insurance is worth having because it provides protection for a relatively affordable price. The alternative would be to pay for any potential incident out of pocket, and there is no way to predict how expensive that might be. It is better to be prepared against unexpected catastrophes. 

Average Cost of Renters Insurance 

 

Renters insurance costs vary from person to person and property to property. Some factors that determine the cost of renters insurance include the coverage and the limits you choose, insurance requirements as stated in your lease, where your home is located and any additional risks that may exist in your home, such as having a pet.  

Renters Insurance Quote in McHenry, IL 

 

If you want to learn more about renters insurance or are ready for a quote, contact Illinois Auto Quote Insurance Agency. We want to help you find the right type of insurance policy for your needs.