Things You May Not Have Known About Renters’ Insurance

UNO Insurance Agency in Phoenix, Arizona is here to help the local community understand the benefits of renters’ insurance plans. Having this type of insurance is a great way get piece of mind at a very low cost. This week, we are here to help you learn things you may not have known about renters’ insurance coverage. We can help you compare rates on both renters and auto insurance, so feel free to reach out with more questions.

There Are Benefits for Your Neighbors

Did you know that renters’ insurance coverage could also offer protection for surrounding properties? Ask the company to explain how your plan will cover additional damages to an adjacent apartment or home. You can even ask about coverage for damages that your kids may cause to a neighbor’s fence or property.

You Can Stay in Hotels if Needed

Some insurance plans come with additional living expenses for when you are displaced for an extended period by a qualifying event. This means that you can be reimbursed for hotel costs and will get support in finding a place with adequate amenities while you are without a home. Typically, this can only be used if your place is completely inhabitable from a disaster like a flood or a fire.

Coverage for Medical Costs

Ask about coverage for medical costs for guests when you set up your plan. This will come in useful if a guest is hurt on your property, though it may only cover costs up to a certain amount. Should this guest decide to sue you, you can also get your legal costs covered through a liability insurance plan. Be sure to report and document the event as soon as it occurs, and get details on the nature of the injury and cause. The cause could be a lack of maintenance on the part of the owner of the building, for instance.

Renters’ Insurance for Rented Space and Items

Say you have rented something out for use in your apartment. Did you know your plan might also cover this item? Be sure to check before paying for additional coverage. If the item is considered “in your possession” then it may be eligible. You can also get coverage for any off-site storage you rent, as well; this includes the belongings you have stored.

“Off-Premises” Coverage

Another way to think about coverage for items you own off-site is through the “off-premises” coverage option. This means you can travel and if your luggage is lost or stolen, then your items may be eligible for replacement. Even items stolen from your car may count towards this!

UNO Insurance agency helps you compare quotes and save on renters’ insurance plans. Staff in our Phoenix Arizona offices welcome you to contact us to start applying for a policy.