Category: Renters Insurance

Everything you own inside a space you rent is covered under a renters insurance policy. Whether you’ve had coverage in place for years or never thought about it, our team at Meiners Insurance in Avon Lake, OH, shares some lesser-known facts about renters insurance.

Coverage Is More Valuable Than You Think

You likely own more than you realize, and the typical two-bedroom rental holds an average of $20,000 in possessions, if not more. The cost of replacing electronics, furnishings, and kitchen gadgets can be expensive, but rental insurance can help with replacement costs.

Renters Insurance Moves With You

There’s no need to worry about lapses in coverage when you move. Renters insurance is in place, regardless of where you and your belongings are. The policy covers your items during shipment to a new location or when put in storage.

Your Protection Covers Neighbors Too

Your insurance will cover your losses if you live in an apartment or have nearby neighboring homes and are found liable for causing accidental damage to another unit or their property. Smoke, fire, leaking pipes, and other hazards can result in costly losses to both your place and those nearby. You likely wouldn’t want to have to reimburse occupants in the whole building for an accident.

Renters Insurance Covers Clumsiness

Being klutzy inside the home can cause accidents, and your policy covers injury or accidents to your friends, yourself, and others while in the house. Slipping on the stairs, falling, or even someone tossing a remote through the TV by accident (it happens!) It is reimbursable under your insurance.

If you rent a space, call Meiners Insurance in Avon Lake, OH, to get more information and have a personalized renters policy that will meet your needs.

Living with a roommate can be a great way to save money on living expenses while enjoying the benefits of companionship. However, one of the questions that often arises in Avon Lake, OH is whether you and your roommate need a separate renter’s insurance policy. Meiners Insurance explains why it’s best to have separate policies.

Do you and your roommate need separate policies?

The short answer is yes. Even if you share living space, your belongings are separate, and you may have different coverage needs. In some cases, it may be possible to share a policy, but it’s not recommended. Sharing a policy could become complicated if you ever need to file a claim, and it may not adequately cover each person’s belongings.

Another consideration is liability coverage. You may not have adequate liability protection if you and your roommate are listed on the same policy. Liability coverage protects you if you or your belongings cause damage to someone else’s property or if someone is injured while on your premises. If your coverage limits are not high enough, you could be personally responsible for any damages or medical expenses that exceed your policy limits.

If you have a roommate, you should have your own renter’s insurance policy. While it may seem like an added expense, it’s a small price to pay for the peace of mind that comes with knowing your personal belongings are protected. Plus, by having your own policy, you can customize your coverage and ensure adequate protection in case of the unexpected.

Reach Out To Us

If you’re in the Avon Lake, OH area, contact Meiners Insurance to learn more about renter’s insurance and how we can help you find the right coverage for your needs.

Meiners Insurance offers coverage to the Avon Lake OH community, as well as the surrounding areas. We strive to make sure that our clients are protected if a disaster arises. The fear of the unknown can be scary. However, the right insurance coverage will make things a little easier. We look forward to helping you and showing you why we have been an industry leader for over 20 years.

Things To Look For When Researching Renters Insurance

Avon Lake, OH has several high-end rental properties throughout the city. If you are staying in one of those units, consider the benefits of renters insurance. Renters insurance covers all of your personal items if something were to happen.  Renters insurance also includes liability coverage to protect you if a guest is injured while visiting your property or if you accidentally cause damage to someone else’s property. You can also amend your policy to include temporary living coverage. If your unit suffers serious damage, you will be covered as you seek another place to stay until the property is repaired. Here is a look at some other variables to consider while researching coverage.

Building Size

Think about the size of the property and the number of units. The type of rental coverage you need may vary based on the size of the building.

Valuable Items

If you have a lot of luxury items at your rental property, consider adding extra coverage. That way, you will be fully protected if those are stolen or vandalized.

Location

If you are staying in an area prone to severe weather, that may influence your coverage. You may also need to inquire about extra coverage.

Meiners Insurance Will Help You Protect Your Assets

Visit our website to learn more information about renters insurance.