Renting Further Simplified
When renting, much is already taken care of for you under your home or building owner’s insurance. However, your personal belongings and any unexpected events happening inside your rental property are not covered. Fletcher Insurance Group fixes that by offering premium renters insurance that protects everything you own plus more features.
Contact us today to find out how we can help.
Elements of Renters Insurance Coverage
Renter’s insurance is different from Homeowners insurance because you are not responsible for insuring the outside structure of your rental property. Look below to see what’s covered in your rental insurance plan:
Personal Belongings Coverage
Everything you own inside your rental, such as furniture, appliances, electronics and clothes are covered in case of fire, burglary or theft. You will list out your belonging in your initial quote with a representative from Fletcher.
Injury Liability Coverage
Any injuries that occur in your place along with lawsuits and legal fees are all covered under your Renters insurance.
Hotel and Living Expenses
When your rental is under repair, your Renters insurance has you back by paying for hotel stays and meals.
Additional Considerations for Renter’s Insurances
You should go over each personal item you own and determine how much they are worth. Then, see if your policy covers the full cost of those items. If it doesn’t, you might consider adding additional coverage.
Replacement Cost vs Actual Cash Value
Replacement Cost (RC) is the amount required to repair, replace or rebuild damaged property to its former state in similar quality without subtracting depreciation.
Actual cash value (ACV) is the cost of purchasing brand new property that is similar in design and quality. ACV factors in depreciation, so this valuation would pay you for the amount you’d get from selling your used item.
If you’d like more help determining the right coverage for you as a renter, please request a quote to speak with one of Fletcher’s qualified Renters insurance agents.