A fire sweeps through the rental units of a multi-family home. A major overnight storm with hurricane-like winds knocks trees into homes and apartment buildings. More than 40 Central Massachusetts homes are broken into, burglarized, and vandalized in a single evening. If these stories sound familiar to you it’s because they are all incidents that recently occurred right here in Leominster, Gardner, Westminster, and surrounding Worcester metro area communities.
As your local insurance professional, the ABM team would like you to take a moment to consider what would have happened if you and your family had been victims in this story. Whether it’s a fire, a weather-related event, or a theft, are you confident that you would have the financial resources to pay for all the expenses related to these unfortunate incidents?
If you have renters insurance, then the answer would be a strong “Yes!” But, without the proper policy in place, you would be left paying for everything out of your own pocket, including the costs of finding alternate housing and replacing all your damaged or stolen belongings. It’s critical to know that your landlord’s policy won’t cover you and your personal property in these situations. Nor will it provide you with any financial protection from liability claims in the event that someone injures themselves in your apartment.
By working with a local, knowledgeable insurance agent, like ABM, you can get expert help with not only understanding your renters insurance requirements, but also with securing affordable and comprehensive coverage. Our team will make sure that your insurance protects you against losses, repairs, and legal claims that otherwise could cost you thousands of dollars out of your own pocket.
Whether your place has a modern and contemporary look or is filled with secondhand and vintage items, we know that you’ve invested time, energy, thought, and probably a decent amount of money into making your rental feel both homey and stylish. Now, we encourage you to take a moment to look around your home and imagine how challenging – and expensive – it would be to replace every last item if something disastrous were to happen. From your computer and sports equipment, to your clothes and bedding, to your dishes and wall art, you would likely have to spend thousands of dollars to set up your whole apartment again from scratch.
But not if you have renters insurance. This type of insurance policy will provide coverage in case any of your possessions are destroyed by fire, smoke, lightning, vandalism, theft, windstorm, burst pipes, falling objects like trees, and any other peril listed by your insurance company. Even gifts that you’ve bought, but haven’t delivered yet, and things that you’ve borrowed from someone else, are typically covered under a standard renters policy.
In addition to protecting your belongings, your renters insurance policy also includes the following coverage:
Many people are surprised that renters insurance covers all of this. Even more unexpected, though, is how affordable this broad coverage can be. The average cost of renters insurance is about $15-20 per month for coverage that ranges from $30,000 to $50,000. Plus, there are several ways to save even more on renters insurance. For example, you can get a discount for bundling your renters insurance and auto insurance policies with the same carrier.
If you’ve been renting but haven’t bothered to get renters insurance yet, or if you did get a policy but you’re not confident it’s the best coverage or competitively priced, then it’s time to work with the ABM team. We will be glad to review your current policy, and/or get you a quote for a new one, to ensure that you are not putting all of your stuff – and your hard-earned money – at risk. Contact ABM today for help protecting the most important things and people in your life.
The many reasons you should have renters insurance seem pretty straightforward. However, there are some situations that make getting the right coverage a little trickier, like if you have a roommate or if you have any expensive items. But, don’t worry, the ABM team is always available to explain everything you need and want to know about renters insurance. While speaking to you in person or over the phone is the best way for us to guide you through the insurance process, we wanted to give you a head start by providing some answers to common renters insurance questions here.