How to find the best renter’s insurance for you
Renters insurance is a type of coverage that protects you and your belongings. It covers losses not covered by your landlord’s insurance, such as theft and liability.
How much does renter’s insurance cost?
The cost of your renter’s insurance will depend on the provider you choose and how much coverage you need. For example, some providers offer discounts for bundling your car or home policies with your renter’s. Some may also offer discounts if you have a good payment history with them or if you’ve been a long-time customer.
The more coverage you get from your policy (for both contents and liability), your premium will be higher. The average annual premium ranges from $175-$250 depending on where in the country you are located and what kind of coverage requirements are included in that area’s state law regarding renters insurance law requirements. Here’s an example: In California, where there is no statutory minimum requirement for contents protection in most cases (meaning that each landlord can decide what type/level of protection they want), residents pay an average annual premium of $231 per year whereas those living in states like Maine where landlords must provide at least $50 worth of contents insurance – residents pay an average annual premium of only $183 per year!
What does renter’s insurance cover?
A renters insurance policy will help you pay for the cost of replacing your personal belongings, including:
- Furniture and appliances
- Clothes, jewelry, and other possessions
- Computers, cameras, music players, and other electronics
What does renters insurance exclude, and can you get coverage for it?
The most common things that are not covered by renters insurance include:
- Damage from mold, mildew, and fungi
- Damage caused by earthquakes and floods (check your policy to see if you’re covered for such events)
What’s the best renter’s insurance for me?
Use this guide to help you find the best renters insurance for your lifestyle.
The first thing to consider is whether you need a renters insurance policy. If you’re in a state where landlords are legally required to provide coverage for their tenants, then it’s likely that you don’t need one. In those cases, your landlord’s policy will cover any losses or damages during the lease period—and beyond if they have agreed to keep paying for it after the lease ends. However, if your landlord has no insurance policy, it might be worth considering buying some coverage yourself. Most personal policies typically include $100–$300 per month in liability limits (the maximum amount they’ll pay out), which is enough protection against an accident while someone else is staying at your place (like when friends come over).
If those circumstances don’t apply and neither does renter’s insurance seem necessary yet still want peace of mind knowing what happens if something breaks down within your apartment complex? The good news is that most people aren’t aware of how much risk they assume without proper coverage!
When it comes to renters insurance, there are a lot of factors to consider. Your landlord may require you to get it; it still pays to have it if they don’t. If something terrible happens and you don’t have coverage, you could be out thousands or even tens of thousands of dollars in damages. Even if your landlord requires renters insurance but doesn’t offer it as part of their rental agreement, like many do today due to rising costs – this can leave your home vulnerable when disaster strikes. It doesn’t matter whether or not you live alone or with roommates; everyone should have some protection plan in place just in case tragedy strikes while they’re away from home!
Choose The Right Renter’s Insurance With Nickerson
At Nickerson Insurance Services, Inc., we want to make sure you’re protected when the unexpected occurs. Since 1961, we have provided comprehensive insurance policies to California residents, including homeowners, auto, life, and personal property insurance. When you schedule an annual review with us, we will audit your current policies to confirm proper coverage and discount eligibility. We have your best interests at heart. Give us a call to get the protection you need and deserve.