Renter insurance — Cushion the Shock of Sudden Loss

Insurance Word Cloud on Dry Erase BoardInsurance for the most important things you own in life is vital to make you whole again in the event of a loss, and fortunately it’s very inexpensive comparatively speaking. Renter insurance happens to be just as important to renters as homeowners insurance is to homeowners because it does provide coverage for financial loss and many perils as well. Coverage for loss due to fire, theft, vandalism and sudden and unexpected events such as a frozen water pipe bursting inside your apartment ruining your household items are examples of what is typically covered in a renter policy.

Jewelry and other personal items of value

Imagine for a moment the panic and feeling of dread you would experience if your home was vandalized and most or all of your prized possessions were stolen. Without renter insurance, your loss is completely out of pocket. What about that high-value coin collection, or irreplaceable antiques worth thousands of dollars? Renter insurance can provide coverage for these items, too.

TVs, electronics, computers

Without coverage for your expensive electronics, you would be forced to pay cash to replace these items. With insurance, depending on the type of policy, typically you will receive a check for the replacement cost, not a pro-rated amount, minus the policy deductible. On the other hand, if your policy does provide for a pro-rated amount, you’re likely to receive a check minus depreciation and deductible.

Additionally, typical renter insurance policies also provide compensation for the following:

  • Content coverage for items away from home
  • Additional living expenses
  • Personal liability loss
  • Medical payments
  • Property of others

For more information about renter insurance in Wisconsin, please contact Sagen & Associates Insurance, located in Brodhead.