Your Grand Rapids, Michigan home is not just a home you live in, it’s the contents too. With renters insurance, you can insure everything you own from damage or loss in the house or apartment you’re renting.
Protect your things so you can have an added peace of mind that in the unfortunate event they are lost or stolen, you will be compensated.
First Thing’s First, The Differences Between Related Policies
Renters Insurance Vs Homeowners Insurance
Renters insurance is bought and paid for by the tenant, and it covers damage or theft of personal property. It does not cover damage to the apartment or building itself. Homeowners insurance is for those who own their house or condo, and it covers both the structure of the home as well as their personal belongings.
Renters Insurance Vs Rental Property Insurance
Rental property insurance is a policy purchased by the landlord and protects the property owner against damages caused by the tenant. Renters insurance is a policy purchased by the tenant and covers the replacement cost of damaged personal belongings within the unit being rented.
Renters Insurance Vs Liability Insurance
Standard renters insurance policies include personal liability coverage in them. It can help pay for someone’s medical bills or repair costs for their property if you are found legally responsible for their injuries or damaged property.
Renters Insurance Vs Condo Insurance
A renters insurance policy is paid for by a tenant and covers their personal belongings and liability within the rental property or apartment only. It does not cover the structure itself. Condo insurance is for condo unit owners and it covers everything renters insurance does, plus protects the structure they own.
Renters Insurance Keeps Your Stuff Safe
Renters insurance is necessary if you are living the renting lifestyle in Grand Rapids, MI. You never know what life might hand you, and with renters insurance, you are protected against life’s perils. Standard policies will cover your property from things such as smoke damage, fires, damage from vehicles, theft, and more.
Having a renters policy allows you to keep peace of mind should one of these events occur. You will be compensated to cover the cost of any property that is damaged or stolen.
If you are renting your home in Grand Rapids, Michigan, you will need a renters insurance policy to keep the things you own covered. Your personal property, when added together, can account for a large sum, so keeping it covered can prevent you from having to take a significant financial hit should there be an emergency.
1. Cover Your Personal Property
Being protected against losses to your personal property is one of the big reasons you should get renters insurance. Life can throw you curveballs. From fires to natural disasters or even water damage from a broken pipe, insurance covers you in the event that something unexpected happens and your property is destroyed, damaged, or stolen.
You may be thinking that you don’t own that much stuff. When you add the cost of furniture, food, all your electronics, appliances, jewelry, clothes, kitchen items, cleaning supplies, etc you may own more than you think. Having to replace everything you own at once will often bring a financial hit many cannot afford, and having renters insurance gives you peace of mind you won’t have to.
2. Your Landlord May Insist That You Have Renters Insurance
Most Grand Rapids landlords insist upon their tenants having renters insurance. Your landlord will have insurance that covers the property’s structure, but the contents need to be covered by you through renters insurance.
Landlords may insist upon renters insurance because many renters are unaware that this is their responsibility and believe the liability would fall to their landlord should there be damage or loss of their property.
Renters insurance is designed to cover the contents of the unit, inside and out, but it also gives you liability coverage. It means that should someone be injured in your home, legal expenses and court judgments are covered by your renter’s insurance. So, when you have renters’ insurance that has contents coverage and liability protection, you, your possessions, guests, and physical structures are covered.
3. Liability Coverage
Not only does renters’ insurance protect your stuff, but when you have liability coverage included, it also covers you when an accident happens and the landlord comes seeking damages. For example, if a renter starts a kitchen fire in their apartment and the building needs $50,000 worth of repairs, the landlord can hold the renters liable for the damage. If the renters don’t have renters’ insurance, the landlord can get a court order to garnish 35% of the renters’ wages to recoup the $50,000, no matter how long it takes. But, when you have renters’ insurance, you don’t have to worry about scenarios like this since it has liability coverage which will step in and protect you from this situation.
Bundle Your Renters with Auto Insurance & Save $796/Year On Average
Both renters insurance and auto insurance are there to protect you from life’s “special” moments. It’s a great idea to have both, and most insurers offer bundle deals that save you money.
When you bundle both types of insurance with one provider, you’ll benefit from a discount on those insurances that can save you a bunch of money.
Taking out multiple insurances from one carrier is often the smart and quick way to get the best deal on your renters insurance and auto insurance. It often means you’ll have one monthly payment to worry about. You can enjoy up to 50% in savings on your premiums when you speak to one of our local Grand Rapids, MI agents.
Bundling also makes life easier by keeping paperwork to the minimum. Rather than having to fill out forms for multiple insurers, when you take out multiple policies from one carrier, they already have many of your personal details, speeding up the process of purchasing another type of insurance.
Bundle your renters with your auto insurance and save on average $796 per year. Fill out this very short form below, and one of our local and licensed Grand Rapids, Mi agents will contact you.
Start Your Renters & Auto Bundle Quote Here