by Administrator
26. April 2024 08:57
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by Administrator
21. March 2016 11:22
Most landlords have an insurance policy to safeguard their property in case of any untoward incident or natural calamity. However, the landlord’s insurance policy does not provide any coverage for the personal possessions of a renter. This is the reason why it is imperative to buy a renters insurance policy.
Below is a list of different kind of coverage options provided under the renters insurance policy:
- Personal property coverage: In this case, you will be offered coverage for your personal belongings if they are stolen or get destroyed in a fire, storm or any other calamity mentioned in the policy. This is crucial because you can easily repair/replace your damaged or stolen goods with the money provided by your insurer. However, you may need to take extended coverage for expensive items such as jewelry, silverware etc. Although extra coverage can increase your deductible, but insuring your expensive items is beneficial in the longer run.
- Liability coverage: The provision of liability coverage given under a renters insurance policy will provide protection if you are sued by an outsider who is injured in your home. For instance, a guest can trip or fall while climbing the stairs in your home or injure himself with a faulty appliance. All the expenses associated with the case proceedings will be covered under the renters insurance policy.
- Coverage for stuff stolen outside property: If your belongings get stolen outside the premises of your home, a renters insurance policy will provide you coverage. However, there may be limits to the amount of coverage provided and the areas where the policy will be applicable.
- Additional living expenses: A renters insurance policy will provide for all the living expenses in case there is a fire or water pipe burst that destroys your rental home. You will be paid all the expenses for the time period you have to stay elsewhere while your home is being repaired. This includes all the expenses including hotel bills.
- Damage caused to someone else’s property: There can be an instance where you accidentally damage some other person’s property. For example: you could damage the plants in your neighbor’s yard while playing baseball in the street etc. In this case, your renters insurance policy will provide for the damage caused by you.
We, at Shawn Camp Insurance Agency, Inc., provide comprehensive renters insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.
by Administrator
19. February 2016 08:09
When you rent a house in Killeen, TX, your landlord’s home insurance policy will not cover any damages to your belongings. Therefore, you need to have a renters insurance policy that provides suitable coverage in the event of unforeseen circumstances.
Among the various renters insurance contracts, the most popular one is termed as HO-4. It lists all the perils which are covered in your insurance policy. If a peril is not mentioned in HO-4, it means you will not be provided coverage for it. You will need to buy special add-ons known as endorsements for protecting your belongings from additional hazards.
The coverage options are listed below:
- Protection for personal belongings: Personal property coverage includes protection in case of property damage due to fire or lightning, windstorm, smoke, vandalism, theft or unintentional discharge of water. You need to choose a dollar limit for getting coverage under this category. Personal items such as clothes, appliances, furniture etc. are included in the coverage. It is important to know the exact value of all your household items beforehand in order to get the requisite coverage without underestimating the actual worth of your possessions.
- Personal liability coverage: In this case too, you will be required to choose an upper limit for the coverage. Personal liability coverage provides protection if you are held responsible for causing accidental bodily injury or property damage that occurs on or outside the property. The only exceptions in this category are the injuries related to automobiles.
- Special coverages: Endorsements or add-ons are special coverage options that need to be added to your standard insurance policy to provide extra protection for high-value items and various types of scams.
- Limits on valuable items: All insurance policies have dollar limits for valuable items such as jewelry, fur etc. It is important to mention these at the time of buying a particular renters insurance policy so that you get the required additional coverage.
- Water/sewer backup: This add-on will help in cleaning up, repairing or replacing your damaged household items in the event of a malfunctioning sewer pipe or sump pump causing havoc in your house.
- Identity fraud: This special coverage will aid in regaining your credit status if you get trapped in an identity theft.
We, at Shawn Camp Insurance Agency, Inc. offer various renters insurance plans in Killeen, TX. For more information about the coverage options, you can call at (254) 526 – 0535.
by Administrator
20. January 2016 10:08
If you live in a rental property in Killeen, you need to protect your belongings with a renters insurance policy. Your landlord’s insurance policy is for the protection of the home and does not offer any financial coverage for your possessions. Therefore, get in touch with an insurance agent to get renters insurance for:
- Personal possessions
- Liability protection
- Additional living expenses
Following is a checklist that can help you choose the right insurance policy:
- Coverage Required: You need to have enough insurance that can provide coverage for most of your personal possessions in case of a theft, fire or any other disaster. Create a detailed list of all the items that you have in the house and write down their estimated value. This will help to determine how much insurance you require.
- Disasters Included In Policy: Renters insurance will provide protection for any loss caused by fire, theft, sabotage, lightning, windstorm and water damage. Most renters insurance policies do not provide protection in case of a flood or earthquake. So, make sure you discuss your requirements with your insurance agent.
- Liability Protection: It provides coverage against lawsuits in instances of bodily injury or damage done to the property by you, your family members or pets. You will get financial support for defending yourself in the court as well as paying for the damages as ordered by the court verdict. See whether your policy provides sufficient liability coverage.
- Coverage Provided For Damage Caused By Disaster: If a situation arises where your home in Killeen is completely damaged due to a disaster and you are required to stay somewhere else, renters insurance provides you compensation for Additional Living Expenses (ALE). All your hotel expenses, restaurant meal bills, temporary rental expenses and all other costs incurred while your home is being re-built are covered in ALE. However, there is a certain upper limit in this coverage and it may differ from one insurance provider to the other.
- Coverage Provide During Vacation: Renters insurance policies also provide coverage for your possessions if they are damaged outside the house. For example: your belongings could be stolen from your car when you are out on a vacation. Some companies set a limit on the off-premises coverage and provide only a certain percentage of the amount of your personal possessions insurance.
- Discounts Available: You can ask for discounts on renters insurance if you have installed a security system, smoke detectors or other safety features in your home. You can also consider bundling your policies to be eligible for discounts.
We, at Shawn Camp Insurance Agency, Inc., offer affordable renters insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535.