Why Renters Insurance is Crucial for Your Family

Many people are familiar with home insurance. If you own a home, it’s crucial to make sure that it is properly insured. However, folks sometimes forget that renters need protection as well. Fortunately, you can take out renter’s insurance, which will provide protection for you and your family. If you’re looking for renter’s insurance in Illinois, contact Green Family Insurance Inc.

A Closer Look at Renter’s Insurance

In some cases, renters may be covered by certain things via their landlord’s insurance. However, the landlord’s insurance may not cover everything. The right renter’s insurance can expand coverage and keep your family safe.

What’s covered can vary from plan to plan. It is important to work with an insurance agent or to closely read the fine print when selecting an insurance policy. Some things that may be covered by a rental insurance policy include stolen property, damage caused by criminals, and property ruined by burst pipes. The damage caused by some natural disasters may also be covered. Costs can quickly add up, so it’s important to explore coverage options.

If you’re targeted by criminals or live through a natural disaster, you and your family will likely be under a lot of stress. Should you have renters insurance that covers damage, you can reduce your financial woes. This could help provide peace of mind and will allow you to recover more quickly. Without insurance, you and your family may struggle to recover (financially speaking).

Ultimately, everyone who rents a property should consider rental insurance. If you’re looking for renter insurance policies, feel free to contact Green Family Insurance Inc., serving the residents of Illinois. We’d be happy to explore coverage options with you.

Why do I need renters insurance in Illinois?

Anyone that lives in the state of Illinois could find that renting a home makes a lot of sense. Not only can it be more affordable, but it offers flexibility to move around throughout the state at the end of each lease term. If you are going to rent a home here, you still need to have proper insurance. You will need a renter’s insurance plan here for various reasons. 

Financial Protection

A good reason to get a renter’s insurance plan when moving to this state is so you can obtain financial protection. When you are in the market to rent a home, you will be taking on some risks, including the risk that your personal items will be lost or damaged and that you are found liable for an accident in your home. If you carry a renter’s insurance plan, it will give support to help mitigate these risks. 

Meet Obligations

You should also get a renter’s insurance plan to meet your insurance obligations. When you are going to rent a home, you will need to sign a formal lease. In many cases, the lease will require that you carry a renter’s insurance plan throughout the term of the loan. Having coverage will keep you in good standing with all such requirements.

Give Us A Call

People that are going to rent a home in Illinois will find that having renter’s insurance for it is very important. When you are looking to rent a home here, it would be a good idea to call our professionals at Green Family Insurance Inc. It can be confusing to choose a renter’s plan that is right for your situation, and our team with Green Family Insurance Inc. will offer any guidance that you need to build a plan that is ideal for your situation. 

Renters Insurance Explained

According to an observation by Green Family Insurance Inc., most people who rent homes, condos, or apartments in Illinois have no idea whether they need renters insurance. And to make it even worse, some don’t know even know what it is. 

Supposing you are one of the renters who hasn’t subscribed to renters insurance, this post seeks to address you. Here we will tell you:

  • What renter insurance refers to
  • What it covers 
  • The common myths you should ignore regarding the same

Renter insurance defined

This policy offers coverage to a policyholder’s valuables, liabilities, and possibly loss of use expenses when perils occur. It’s available to individuals subletting or renting a condo, apartment, single-family home, and so on.

Renters Insurance Coverages

Not considering purchasing renters insurance? Think again. These are the benefits you accrue when you invest in renters insurance.

Protects your assets

Renters insurance shields your rental home valuables such as your clothing, furniture, appliances, and other items within the house.

Liability protection

If an accident occurs in your home and causes injuries, your renter insurance can help manage medical bills.

Loss of use coverage

If a covered event destroys your home to the extent that it’s inhabitable, your renter’s insurance will provide reimbursement.

Medical bills to third parties

If someone visits you and sustains injuries that call for treatment, the medical bills are payable by renters insurance.

Rental Insurance Myths

Be aware of the following myths when subscribing to renters insurance:

My landlord is responsible for damages or lost properties

This statement is not true. Your landlord’s insurance will only protect the building and not your property!

I don’t need renter insurance since my roommate has it 

Whereas you and your roommate might share contents in the house, their renter insurance covers their personal belongings and not yours. 

No need for renters insurance since I don’t have many valuables

If you think what your own is not valuable, wait until perils occur — you will find it a huge challenge to replace it all. To avoid this, obtain renters insurance.

Buy renters insurance today in Illinois!

Now that you know what renters insurance is, it’s time to purchase coverage from Green Family Insurance Inc. Contact us today for an affordable quote. 

What Is Renters Insurance and What Does It Cover?

Renters insurance is very similar to home insurance, but its purpose is to fit the needs of people renting a property – an apartment, house, condo, or anything else. This type of insurance is an important type of financial protection for any renter. Green Family Insurance Inc., serving clients from Illinois, has prepared a list of things covered by standard renters insurance: 

  • Personal property coverage. Renters insurance covers all costs to replace your personal belongings if they were destroyed or stolen. Personal belongings may include electronics, furniture, clothing, jewelry, computer equipment, and appliances. It even covers the property that was not even in your home. For example, if your laptop was stolen while you are on vacation, it will be replaced by your renter’s insurance. 
  • Personal liability and medical expenses. If someone is injured in your rented condo, apartment, or house, your policy will cover medical bills costs. If an injured person decides to sue you, liability coverage will also pay for legal expenses. 
  • Loss-of-use coverage. If your rented property becomes uninhabitable for some reason, renters insurance will cover the costs of your temporary place to live. For example, if your apartment is damaged by fire and needs to be repaired, your renter’s insurance will pay for your stay in a hotel, as well as for your meals. This type of coverage will even pay for your gas if you have to drive more to work. 

Renters insurance is important to have if you rent a condo, apartment, house, or any other residential property type. If you are currently looking for a perfect policy and do not know where to start, Green Family Insurance Inc., serving clients in Illinois, is ready to help. Do not hesitate to give us a call to talk to one of our insurance agents, who will answer all of your questions.