Renters Insurance

Renter’s insurance is not something a lot of renters think about. While there are currently more than 85 million Americans leasing a house or apartment, a very small percentage of them actually carry renter’s insurance. Insurance industry experts believe this is mainly due to a complete misunderstanding about what renter’s insurance provides and also an incorrect assumption that only homeowners need insurance protection. If you live in Oklahoma and are renting a place to live, you should be aware of the real facts about renter’s insurance and just how valuable it is.

Why You Need Renters Insurance in Oklahoma
The past few years have been marked by many weather-related disasters all over the country. If you live in Oklahoma, you already know how suddenly dangerous storms and destructive tornadoes can form and how destructive they can be. But these aren’t the only incidences which can damage or destroy your personal property. A fire, a burst water pipe, or a burglary can all put you in a position of dealing with lost or damaged personal property- and if you don’t have renter’s insurance protection you alone are responsible for replacing all your possessions. Not many people are financially able to do that. But that’s exactly the risk you are taking if you don’t have renter’s insurance coverage.

You may have many reasons for thinking you don’t need renter’s insurance. Perhaps you think it will be terribly expensive. Or maybe you think your personal property doesn’t add up to a very large amount of money. You might even assume that your landlord’s homeowner insurance policy covers you and your belongings in the event of theft, fire, or various natural disasters.

The fact is that renter’s insurance is affordable! The average cost of an annual premium is only about $200 to $300. When you consider that’s the price of about 5 or 6 lattes a month at your favorite coffee shop, you can appreciate that renter’s insurance is a real bargain.

Your landlord’s homeowner coverage does protect the actual building you are renting and also the land it is built on. But all the items you have inside of your apartment or rental home are your responsibility. Without proper renter’s insurance, this means that you alone will have to replace the lost or damaged items. Just imagine having to buy everything at today’s market value. This is probably the most compelling reason why people make the smart decision to purchase and carry renter’s insurance.

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.

You may be surprised to learn that a typical renter’s insurance policy also includes liability coverage. If a visitor to your home falls and is injured, you can be sued for damages. If you are found liable in a court of law, your income, personal property, savings, and even future earnings can be at risk to pay for the damages that are awarded. No one ever expects such a thing to occur but unfortunately accidents do happen. Why take a chance when a simple renter’s policy can protect you?

Ways to Save on Oklahoma Renters Insurance
Here are some tips which can lower your annual premium:

  1. If it’s financially reasonable, choose a higher deductible.
  2. Bundle your insurance policies. Most companies offer discounts if you also purchase auto or other types of insurance from them.
  3. Ask about senior discounts (55+).
  4. Many insurance carriers check your credit score/credit history and base your cost accordingly. Keep a good credit rating.
  5. Non-smokers sometimes receive a discount. Ask your agent when putting together your policy.
  6. Insurance companies normally will discount if your home or apartment has safety features such as: smoke alarms, sprinklers, security systems, and deadbolt locks.

Get Started Today
We work with all of the major insurance carriers in Oklahoma 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 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.