Renters Insurance Needs

Renters’ Insurance Needs

Persons who live in apartments or rent a residence are fortunate. Most insurance companies can protect their assets and belongings by using a policy that is designed especially for tenants; a renters policy. Typical policies cover your possessions for common causes of loss, additional living expenses related to making other living arrangements, medical expenses for treating people injured on your premises and, of course, lawsuits. Renters’ policies will also protect the tenant’s investment in improvements to a living space made at his or her expense (such as built-in shelves).

Property Coverage

Protection under a standard renters’ policy is on an actual cash value basis (the cost to replace with a new, similar item, less depreciation).

Example: Stewart’s kitchen catches fire and his three year old refrigerator is destroyed. A new model of the refrigerator costs $750. His insurance company pays him $362, explaining that it’s the effect of three years of deteriorating value. Most companies offer coverage on a replacement cost basis if you purchase a separate endorsement.

Theft Limitations

Certain types of property are quite vulnerable to being stolen, therefore very limited coverage is available for items such as jewelry, furs, gems, gold, silverware, pewterware, money, securities, guns and accessories. Protection can be increased by adding additional coverage to the tenant policy or by purchasing a personal article floater policy.

Additional Living Expenses

A typical tenant policy provides a limit equal to 20% of your contents insurance limit. If your contents limit is $15,000, then your additional living expenses limit will be $3,000.

Liability Coverage

Liability insurance covers you for injury you cause to others and for damage to property that belongs to others. The policy also provides for the cost of a lawyer (if necessary) and most court costs. Examples of liability claims include: slips and falls; beaning a neighbor’s child with a baseball; hitting a golfer with your errant hook shot; or a friend breaking her hip when she trips on a skateboard your child left on the stairs For more info and a renters quote


About FuscoInsuranceAgency

Independent Insurance Broker - Personal & Business Insurance, Life, Health, Retirement, Benefits, Bonds Gold & Silver Bullion & Coins Advisor / Sales President of Fusco Insurance Agency, Inc. Providing Solutions For Your Insurance & Retirement Needs! Licensed in NY NJ CT PA MD NC SC TX & FL E Mail: Toll Free: (866) 983-8726 Fax (866) 299 - 7990
This entry was posted in Adams County, Pennsylvania, Albany County, New York, Allegheny County, Pennsylvania, Alleging County, New York, Armstrong County, Pennsylvania, Asbury Park, Atlantic City, New Jersey, Atlantic County, New Jersey, Avon, New Jersey, Barnaget, Bayonne, New Jersey, Beaver County, Pennsylvania, Bedford County, Pennsylvania, Bedminister, New Jersey, Belmar, Bergen County, New Jersey, Berks County, Pennsylvania, Blair County, Pennsylvania, Bradford County, Pennsylvania, Bridgewater, NJ, Brielle, New Jersey, Brooklyn, New York, Broome County, New York, Bucks County, Pennsylvania, Burlington County, New Jersey, Butler County, Pennsylvania, Cambria County, Pennsylvania, Camden County, New Jersey, Camden, NJ, Cameron County, Pennsylvania, Cape May County, New Jersey, Cape May New Jersey, Carbon County, Pennsylvania, Cattaraugus County, New York, Cayuga County, New York, Centre County, Pennsylvania, Chautauqua County, New York, Chemung County, New York, Chenango County, New York, Cherry Hill, New Jersey, Chester County, Pennsylvania, Clarion County, Pennsylvania, Clearfield County, Pennsylvania, Clinton County, New York, Clinton County, Pennsylvania, Columbia County, New York, Columbia County, Pennsylvania, Cortland County, New York, Crawford County, Pennsylvania, Cumberland County, New Jersey, Cumberland County, Pennsylvania, Dauphin County, Pennsylvania, Delaware County, New York, Delaware County, Pennsylvania, Dutchess County, Dutchess County, New York, Edison, NJ, Elk County, Pennsylvania, Erie County, New York, Erie County, Pennsylvania, Essex County, New Jersey, Essex County, New York, Fayette County, Pennsylvania, Forest County, Pennsylvania, Franklin County, New York, Franklin County, Pennsylvania, Fulton County, New York, Fulton County, Pennsylvania, Genesee a County, New York, Gloucester County, New Jersey, Greene County, New York, Greene County, Pennsylvania, Hamilton County, New York, Herkimer County, New York, Hoboken, New Jersey, Hudson County, New Jersey, Hunterdon County, New Jersey, Huntingdon County, Pennsylvania, Indiana County, Pennsylvania, Jackson, NJ, Jefferson County, New York, Jefferson County, Pennsylvania, Jersey City, New Jersey, Jersey Shore, Juanita County, Pennsylvania, Kings County, New York, Lackawanna County, Pennsylvania, Lancaster County, Pennsylvania, Lawrence County, Pennsylvania, Lebanon County, Pennsylvania, Lehigh County, Pennsylvania, Lewis County, New York, Linden, New Jersey, Linden, NJ, Livingston County, New York, Long Beach Island, New Jersey, Long Island City, New York, Long Island, New York, Luzerne County, Pennsylvania, Lycoming County, Pennsylvania, Madison County, New York, Manhattan, New York, McKean County, Pennsylvania, Mercer County, New Jersey, Mercer County, Pennsylvania, Middlesex County, New Jersey, Monmouth County, New Jersey, Monroe County, New York, Monroe County, Pennsylvania, Montgomery County, New York, Montgomery County, Pennsylvania, Montour County, Pennsylvania, Morris County, New Jersey, Mufflin County, Pennsylvania, Nassau County, New York, New Jersey, New York, New York County, New York, Niagara County, New York, Northampton County, Pennsylvania, Northumberland County, Pennsylvania, Ocean City, New Jersey, Ocean County, New Jersey, Old Bridge, NJ, Oneida County, New York, Onondanga County, New York, Ontario County, New York, Oswego a County, New York, Oswego County, New York, Passaic County, New Jersey, Pennsylvania, Perry County, Pennsylvania, Philadelphia County, Pennsylvania, Philadelphia, Pennsylvania, Pike County, Pennsylvania, Potter County, Pennsylvania, Putnam County, New York, Queens County, New York, Realtors, Red Bank, NJ, Rensselaer County, New York, Richmond County, New York, Rockland County, New York, Salem County, New Jersey, Sandy Hook, Saratoga County, New York, Schenectady County, New York, Schoharie County, New York, Schuyler County, New York, Schuylkill County, Pennsylvania, Seacaucus, New Jersey, Seaside, NJ, Seneca County, New York, Senior Medical Insurance, Snyder County, Pennsylvania, Somerset County, New Jersey, Somerset County, Pennsylvania, St. Lawrence County, New York, Staten Island, Steuben County, New York, Suffolk County, New York, Sullivan County, New York, Sullivan County, Pennsylvania, Susquehanna County, Pennsylvania, Sussex County, New Jersey, Tioga County, New York, Tioga County, Pennsylvania, Tompkins County, New York, Toms River, NJ, Ulster County, New York, Union County, New Jersey, Union County, Pennsylvania, Venango County, Pennsylvania, Warren County, New Jersey, Warren County, New York, Warren County, Pennsylvania, Washington County, New York, Washington County, Pennsylvania, Wayne County, New York, Wayne County, Pennsylvania, Westchester County, New York, Westmoreland County, Pennsylvania, Wildwood New Jersey, Woodbridge, NJ, Wyoming County, Pennsylvania, Yates County, New York, York County, Pennsylvania. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s