Renters Insurance

The upheavals in the housing and financial markets over the past few years have caused many Americans to re-think buying a home. Consequently more people than ever are choosing to rent an apartment, house, or condominium as a place to live. According to the latest statistics, there are now more than 85 million renters across the country and this number is expected to increase even more in the coming few years. Insurance experts warn that even though the number of people who lease a rental property is growing, the number of renters purchasing renter’s insurance is quite low. This situation has the potential to leave over 40 million people financially unprotected in the event of a theft, fire or weather-related disaster. No matter where you live in West Virginia, if you rent your personal residence it’s important to know the facts about renter’s insurance and how it protects your valuable possessions against loss or damage in the event of most disastrous situations.

Some Common Myths about Renters Insurance
First of all, landlords do carry insurance on the place you are renting. But typically the coverage extends only to the building itself, any fixtures they own within the apartment or home, and the land on which it is built. Any personal property which you own is strictly your responsibility to insure against loss or damage.

If someone visits your home and is injured in a fall or some other mishap (perhaps gets bitten by your dog) you are the person liable, in most cases. Not having liability coverage through your renter’s insurance can put your income, your savings, everything you own, and even your future wages at risk in the event you are sued for damages.

A normal renter’s insurance policy does not cover roommates so don’t depend on your valuable possessions being protected through someone else’s policy.

Many people think that renter’s insurance will be expensive. But on average, a typical renter’s policy in West Virginia will only cost around $200 to $300 a year. That’s the price of a couple of large pizzas per month or two movie tickets. You have to agree that’s a pretty good bargain!

You might be thinking that you don’t own that much property and what you do have isn’t worth that much. But statistics show that the average person has about $20,000 worth of personal belongings. Would you be able to replace them all if they were damaged or lost? Remember that a renter’s policy also protects you in the event of other occurrences- an electrical fire or burst water pipe. If you live in an apartment building, this can happen in another unit but can quickly spread and cause damage to your place. Why risk it?

Ways to Save on Your West Virginia Renters Insurance
There are additional ways you can save on the cost of your annual premium:

  • If you are comfortable having a higher deductible, choose this option. This means you will pay more upfront in case of loss or damage but it will keep the price of your renter’s policy lower.
  • Most insurance companies offer discounts for bundling policies. If you have all of your policies (renter’s, life, and car) with the same company, you should receive a nice discount.
  • Non-smokers generally have lower rates for renter’s insurance.
  • If your apartment or rental home has deadbolt locks, a security system, and smoke detectors, these safety features can bring down the cost of your annual premium.

We work with all of the major insurance carriers in West Virginia 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. We take the guesswork and confusion out of buying renter’s insurance. You can 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. Contact us today!