What Is Renters Insurance?

by Administrator 24. June 2022 13:45

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Need of Renters Insurance in Killeen, TX

by Administrator 30. December 2021 08:50

Renter’s insurance is necessary for anyone renting a home or apartment as it covers any loss or damage to one’s personal belongings in the rental accommodation. It is important to note that a property owner’s insurance covers the building and not the personal items in it. Renter’s insurance is an affordable insurance that provides liability coverage, covers additional expenses and belongings in the rental.

Types of Renter’s Insurance 

  • Actual Cash Value: This includes the value of possessions after deducting depreciation up to the limit of the policy. 
  • Replacement Cost: In this, the full cost of replacing one’s possessions is paid without deducting depreciation. 
Here are some reasons for buying renter’s insurance:
  • Protects Personal Belongings: Renter’s Insurance protects personal belonging from factors like theft, lightning, fire, smoke, vandalism, water, windstorms, etc. Floods and earthquakes are excluded from the insurance policy. In order to know the amount of insurance required, a tenant needs to be aware of the value of his or her possessions. These include clothing, furniture, appliances, electronics, beddings, jewelry and more. 
  • Liability Coverage: Renter’s insurance also covers the expenses incurred due to injury of another person or pet on the property. If a renter is sued, the renter’s policy pays for the court costs and court awards up to the policy’s limit. If anyone visiting the rental is injured, the insurance company will cover the medical bills for the same. However, this is not applicable to medical bills of one’s family and pets.
  • Covers Additional Living Expenses: Renter’s insurance provides coverage for additional living expenses incurred when living elsewhere in an event of a rental being damaged or destroyed. Whatever expenses are incurred due to living elsewhere while the rental is rebuilt or repaired, will be covered by the policy. Additional expenses here refer to the difference between one’s regular living expenses and the extra costs of living away from the rental home e.g. hotel bills, restaurant meals and more.
 If you need assistance with deciding about the right amount of coverage required for you, consider getting in touch with our customer care team. We have more than 30 years of experience in the field and are known for our outstanding customer support. We provide superior coverage options and policies that are tailored to suit the requirements of our clients. We offer a wide range of products at discounted rates coupled with quick and secure payment options. 

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Factors That Affect Renters Insurance Costs

by Administrator 12. September 2020 09:49

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Insurance Tips For Renters In Killeen

by Administrator 26. May 2020 08:11

When renting an apartment, an affordable renter’s insurance plan is vital for safeguarding the personal belongings of a renter in case of fire, theft, vandalism, etc. However, in order to make the right decision regarding an insurance plan, it is important for a renter to have some knowledge in this regard.

Essential tips for buying renter’s insurance in Killeen, TX are:

  • Choose The Right Type Of Coverage: The right type of renters insurance is one that provides adequate coverage for personal property and liabilities. It should cover theft, vandalism, fire, and other perils. The cost of staying elsewhere, if the rental is damaged, should also be covered. To choose the right coverage, renters should make a list of their possessions and include information such as the time of purchase, type of item, initial cost, and their current estimated worth. The policy should also include liability coverage for medical bills and losses that may arise due to someone getting injured on the rental property.
  • Know The Exclusions: Some events may be excluded from the basic insurance coverage plans. For in-depth information on events or perils that count as exclusions, the applicants should consult the insurance provider.
  • Consult An Expert: For appropriate guidance on the kind of insurance coverage to buy as per budget and personal requirements, it is advisable for the renters to consult a renowned insurance agency in the area. This will assist them in understanding the coverage options for making an informed decision.

Insurance agencies have a wide variety of insurance plans for different kinds of damages and losses. They provide excellent customer service, and offer a combination of products, services, and payment options. Well-established insurance agencies have websites with features that let the applicants get instant online quotes, contact an agent for inquiries, and use self-policy services for changing coverage.

Shawn Camp Insurance Agency, Inc. provides renters insurance in Killeen, TX. The agents assist the customers in selecting suitable renters insurance coverage. For more details on insurance tips for renters in Killeen, visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, TX – 76542. You can also call at (254) 526 – 0535.

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Renters Insurance FAQs

by Administrator 24. December 2019 08:19

When purchasing renters insurance to financially protect yourself and your belongings, there are a variety of aspects to consider. The common questions about renters insurance that may arise in your mind have been mentioned below.

  • What Is Renters Insurance?

Renters insurance refers to the coverage provided to tenants for items lost, stolen or damaged in a rental property. It also covers expenses for injuries caused to a visitor within the rental premises.

  • Who Needs It?

Renters who have possessions that they cannot afford to replace/repair need renters insurance for financial protection against unforeseen expenses.

  • What Does It Cover?

It provides compensation to a tenant for damaged or lost valuables due to theft, vandalism, fire and other covered perils. It also covers expenses incurred due to living on alternative premises in cases where the rental unit is uninhabitable as a result of damage.

  • How Does It Work?

The amount of compensation a tenant receives depends on the kind of loss and coverage for the same. One may purchase “actual cash value coverage” or “replacement cost coverage” for personal possessions. For items like jewelry and other valuable things, additional insurance coverage may be required.

  • Is It Necessary?

Even though there is no legal requirement for renters insurance, it is advisable to get it for protection from theft, damage, loss and in case of liability claims. In some cases, a property owner may require tenants to purchase renters insurance.

  • How Much Does It Cost?

Renters insurance is generally affordable and depends on the place one lives in and the coverage amount carried on the insurance plan. To find a renters insurance plan that suits your budget, it is advisable to contact a reliable insurance provider for assistance with purchasing a plan that suits your needs and pocket.

  • How Much Insurance Is Required?

The amount of coverage you choose should cover personal property, liability and additional riders such as collectibles, valuable personal items, etc.

  • Where can I get it from?

Renters insurance should always be bought via a reputed insurance agency in your area. However, you can get online insurance quotes and then choose a plan that suits your personal requirements.

Shawn Camp Insurance Agency, Inc. offers renters insurance to its customers. The insurance is offered to financially protect possessions contained in the house, legal liabilities arising out of injuries and other financial losses arising out of covered perils. For more details on renters insurance, visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, TX – 76542. You can call at (254) 526 – 0535.

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Times When You Need Renters Insurance

by Administrator 24. May 2019 07:14

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Reasons To Opt For Renter's Insurance

by Administrator 30. October 2018 14:20

It is important to note that property owners are not bound to insure their renter’s personal property and liabilities. A smart renter knows the importance of obtaining renter’s insurance for adding a layer of protection to their belongings.

People seem to be more aware about homeowners insurance as compared to renter’s insurance and that’s probably why they fail to give it due importance. Here are some reasons for which every renter should consider getting renter’s insurance:

  • Affordable: Renter’s insurance is one of the most pocket friendly insurances out there. It’s sure to cost less than the value of your belongings.
  • Covers Losses To Your Personal Property: Personal property comprises of jewelry, furniture, electronics, luggage, etc. In case of a theft or damage due to natural perils, a riot, explosions, windstorm, hail, water, etc., replacing all your belongings can be an expensive affair. It is in such cases that renter’s insurance proves to be of immense value. However, note that losses that arise from floods and earthquakes are not covered by standard renter’s insurance policies.
  • Includes Liability Coverage: Liability coverage is an intrinsic part of standard renter’s insurance policy. It covers the costs incurred due to accidental injuries to people in the house, court fees, legal expenses and so on.
  • Some Property Owners Demand It: Most property owners these days have made it mandatory for tenants to purchase the renter’s insurance policies and even require proof of the same.
  • Covers Your Personal Belongings Even When You Are Away: If you are out and about travelling often, this policy is a must-have as it covers personal belongings in your car, home or with you while travelling. You are protected from all the losses covered under the policy even as you travel.
  • Covers Additional Living Expenses: On a peril befalling you and your house, the renter’s insurance will cover any expenses that you incur while living away on a temporary basis as you look for a new accommodation. In addition to the living expenses, even food expenses and other additional expenses on living are covered.
  • Covers Guest’s Injuries: In addition to your interests, renter’s insurance also protects the interests of your guests. They may get injuries of any kind while staying at your place. So, renters’ insurance will cover you, thus protecting you from liabilities arising from such incidents.

To get affordable insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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Reasons To Buy Renters Insurance

by Administrator 17. October 2017 21:03

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Home Insurance: Do's And Dont's

by Administrator 25. September 2017 11:27

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Questions To Ask When Buying Renters Insurance

by Administrator 28. July 2017 17:44

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