Heading off to college is an exciting time. For young folks, it’s often the first time leaving the nest. However, leaving home also comes with some risks. A homeowner’s insurance policy may cover family members in some circumstances, but often the coverage is limited. Providing renters insurance is a great way to reduce risks for kids leaving the nest. Contact Morgan Insurance Services, which serves the greater Tampa, FL area, to discuss coverage options.
Renters’ insurance can provide additional protection during a variety of events. That said, it is essential to read each rental insurance policy to understand what is and is not covered. It’s also wise to talk with an insurance agent who can help you better understand any given policy.
Let’s look at how rental insurance can benefit loved ones heading off to college.
The Benefits of Rental Insurance for College Students
Sometimes, a parent’s homeowner’s insurance may provide some coverage for students, especially if they live on campus. However, these policies typically don’t cover kids if they live off campus. When students rent an apartment off campus, taking out renters insurance like any other rentee is smart.
What is covered will vary from plan to plan. However, renters can obtain coverage to protect against many different things. For example, you can take out policies that reimburse you if someone breaks into your apartment and steals personal belongings, such as a laptop.
It’s also possible to get coverage for personal liability. If someone gets hurt at your (or your child’s apartment), say by tripping on the steps, you may be liable. With the right rental insurance plans, this liability may be covered.
Contact Morgan Insurance Services, which services the Tampa, FL metro area and beyond, to discuss renter’s insurance options.
In simplistic terms, renters need renters insurance to protect their belongings and protect themselves from liability. While it may be easy to believe, don’t fall for the common misconception that your landlord’s insurance will protect you and your belongings. Unfortunately, this is not true with landlords’ insurance covering the apartment or home you live in and any items that belong to the owner. Examples of what renters insurance covers include a kitchen fire and the costs needed to replace items destroyed, burglary and the recovery or replacement of stolen belongings, or a visitor falling at your unit and incurring thousands in medical bills and legal fees.
It is easy to think that you don’t have enough belongings to justify the cost of renters insurance; however, once you start adding up your personal items, you’ll quickly realize that your belongings are far more valuable than you think. For example, just a TV, computer, and iPad can soon escalate to $2,000, not counting anything else that you own. Typically, renters insurance includes personal liability coverage for injuries or damage to third parties and their property, personal property coverage to replace your belongings that are ruined in a covered incident, and additional living expenses that kick in when your rental becomes inhospitable due to a claim.
Let the knowledgeable team at Morgan Insurance Services in Tampa, FL assist you with information on renters insurance. As experts in the insurance industry, we are perfectly positioned to answer your questions, customize a renters insurance policy that exceeds your needs, and ensure that we stay within your budget. Give us a call today to schedule a no-obligation consultation with a member of our team.
If you live in the Tampa, FL area as a renter, you may have some questions about renter’s insurance. Fortunately, Morgan Insurance Services is here to guide you through the process. It is important to have one’s own insurance policy in the case of damage or theft at your rental. Our team is here to answer any questions you may have and provide the information you need to make an informed policy choice.
Why you need renter’s insurance
Landlord insurance typically covers common areas within a rental building as well as the structure itself. If there is damage to your individual unit, the landlord’s policy will not provide any coverage. Because of this reality, it is advisable for young people starting to carry an adequate renter’s insurance policy.
The main reason to have such a policy is to protect one’s belongings. In the event of a catastrophe, your individual policy can help you repair or replace any covered items. There are also policies available that may cover some expenses incurred if your residence becomes uninhabitable. Because of these benefits and the potential downfalls of not carrying insurance, it makes sense for everyone to carry renter’s insurance.
As you are starting, it may feel like you don’t have many possessions that need protection. However, having to start over just as you are getting started can be incredibly stressful. Why not protect yourself against any disruption due to a loss.
Don’t go without renter’s insurance!
Morgan Insurance Services is here to answer all of your questions about renter’s insurance in the Tampa, FL area. If you would like to find out more about the available policy options, call or visit our office or website today.
Renters insurance is the type of coverage that protects renters living in a house, apartment, or condo. Many renters are not sure whether they should get renters insurance, because every insurance policy is an extra cost. However, there are specific reasons why renters insurance is a must, and here are some of them:
Protection Of Your Personal Belongings
Renters insurance was designed to protect your personal belongings from damage and loss. For example, if you lose your expensive equipment due to theft and it cost $3,000, your renter’s insurance will cover it. Aside from theft, this type of coverage will also include the replacement and repair of your personal items that were damaged or destroyed by fire, falling objects, riots, the weight of snow or ice, and others.
Personal Injury Protection
A standard renters insurance policy includes liability coverage. This ensures financial protection from liability for injuries that might occur in your rented housing. For example, if your guest slips on a wet floor in your apartment and breaks an arm, they will need medical attention that will be covered by your insurance. Since it is impossible to prevent this type of unfortunate situation, it is good to be prepared by getting renters insurance.
Compared to other policies, renters’ insurance is not expensive. Even if you decide to get additional riders, it will still be affordable to you. By getting this type of coverage, you are receiving peace of mind for next to nothing.
If you decide to rent property in Tampa, FL or any other towns in the area, one of the first things you need to think about is renters insurance. It will protect you, your belongings, and other people visiting you. Morgan Insurance Services is an insurance company that serves Tampa, FL, and has over many years of experience. Give Morgan Insurance Services a call today to find out about the options available and getting the right protection for what matters to you.