We work with all of the major insurance carriers in Delaware who offer renter’s insurance to consumers. From the comfort of your home or office you can compare policies and get quotes from several different insurance companies. Our friendly and professional staff is available 24 hours a day, 7 days a week to assist you in finding the most comprehensive renter’s insurance policy for the best possible price. Let us help you take the guesswork and confusion out of buying Delaware renter’s insurance. You can then relax knowing that your personal property and valued possessions are adequately covered in the event of theft, fire, and a host of other possible disasters.
Why You Need Renters Insurance in Delaware
Wildfires in Texas and Arizona, flooding along the Missouri River, and hurricanes in the southeastern United States and along the eastern seaboard. Living in Delaware, the headlines alone should be enough to make you realize the importance of renter’s insurance coverage. Any natural disaster can damage or destroy your personal possessions. A kitchen fire or even a broken pipe in a nearby apartment can put you at risk unless you have adequate renter’s insurance protection.
With the turmoil in the housing market over the past few years, more people than ever are renting places to live. A recent estimate put the number of Americans who rent at more than 81 million- and nearly 50 million of them don’t carry renter’s insurance. People have a lot of reasons for why they don’t purchase renter’s insurance. Unfortunately most of the more common reasons given are based on inaccurate information.
The average renter’s insurance policy costs between $200 and $300 for an annual premium. This breaks down to around $18-$25 per month, depending on the value of an individual’s personal belongings, where the rental property is located, and other factors. In the scheme of things, this is really a bargain. For this price you can normally get $30,000 of personal property coverage against theft, fire and natural disasters along with $100,000 of liability coverage.
As a general rule, a typical renter’s insurance policy does not cover loss or damage due to earthquakes or floods. If you live in an area which is prone to these types of natural disasters, you should inform your agent of this when writing up your personal renter’s insurance coverage. For an additional cost, protection from these disasters can be added to your policy.
Common Myths about Renters Insurance
There are many reasons why people think they don’t need renter’s insurance coverage. Unfortunately, most of them are not based in fact. Here is a sampling of the most common myths:
- It’s too expensive. As previously explained, renter’s insurance is actually a great deal. When you consider what it would cost to replace your personal property in the event of theft, fire, or some other covered natural disaster out of pocket, it’s easy to see why having renter’s insurance coverage is a smart choice.
- I don’t own very much. It’s a well-known fact that most people severely underestimate the monetary value of their possessions. An easy way to calculate this is to make a complete inventory of everything you own and put a current price tag on each item. You will probably be amazed at how quickly it adds up. You should include furniture, clothing, appliances, electronic equipment, rugs, jewelry and all other items inside of your home or apartment. Unless you can afford to personally pay to replace all of this property, renter’s insurance is the safest option.
- My landlord’s homeowner policy will cover my things. Your landlord’s homeowner insurance policy only covers the actual building (structure) where you are living and the land on which it is built. Everything inside of the apartment or home is the responsibility of the renter.
Some Ways To Save
As you’ve already discovered, Delaware renter’s insurance is very affordable. Here are more ways to save on an annual renter’s insurance premium:
- Choose a higher deductible. This will lower the overall cost of a policy.
- If they aren’t already present, install smoke alarms, deadbolt locks and a security system in your rental property. Having these safety features will generally give you a discounted price on your annual premium.
- If you qualify, ask about discounts for seniors (55+), AAA membership, or other organizational discounts.
- Some insurance companies offer savings to non-smokers. Find out about this possibility.