When You’re Lacking Coverage on Renter’s Insurance

Posted on: October 19, 2015 By: Risk Management Blogging Team
Renters Insurance Brookfield WI

Living under someone’s roof requires sufficient renters insurance in Brookfield, WI.

While your landlord will likely have landlord insurance to protect the building structure, this coverage does not protect your personal belongings. Renters insurance is designed to cover the expenses of damage or loss in the event of a named peril. The unfortunate incidents can include: theft, fire, vandalism, natural disasters, and more.

For those who don’t have renters insurance already, put the task of home inventory on your To-Do list (and at the top!). Make a list of all of your possessions, their value, and photographic documentation of their condition. If you are quite the collector of jewelry, expensive sporting equipment, and musical instruments, you may face a higher premium or require a separate policy to protect your precious possessions.

When acquiring renters insurance, be sure to know what it does not cover. Typically, flood and earthquake damage are not covered. For this coverage, a separate policy must be attained, but be sure to ask your insurance agent as you may receive a discounted rate if you buy all three policies from the same provider! Even if no discount is applicable, flood and earthquake policies are not to be forgotten about. All 50 states have suffered from flooding within the past 5 years, and earthquakes are unpredictable and destructive. If you’re looking to your landlord for coverage, remember that your personal belongings will not be covered.

At Risk Management LLC, we understand your desire for renters insurance at a reasonable price with maximum coverage. If you are located in Brookfield or the surrounding Wisconsin area, contact us today.

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