Many people mistakenly think that if they are renting a place to live, they don’t need renter’s insurance. If you are currently living in New Hampshire and are leasing your place of residence, you should learn about the value of renter’s insurance and the coverage it provides for your personal belongings and cherished possessions.
Why You Need Renters Insurance in New Hampshire
Wildfires in Texas and Arizona, flooding along the Missouri River, and hurricanes in the southeastern United States and along the eastern seaboard. Living in New Hampshire, 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.
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.
It’s estimated that most people have at least $20,000 of personal property. This is a very minimum amount and the value of your belongings may be quite a bit higher. The best way to determine this is to take an inventory of what you own. This should include everything in your apartment or rental home- furniture, appliances, electronics, clothing, CDs and DVDs, jewelry, artwork and rugs. Some expensive pieces of jewelry, art or antiques may have to be covered under a separate policy but you can arrange that with your agent when writing up your personal renter’s policy. Now imagine that all of your belongings are damaged or lost. Would you be able to fully replace these items out of pocket? For most people, it would be impossible. This is why having Colorado renter’s insurance is so important.
Your landlord’s homeowner policy does cover the actual structure where you are living. But any property located within your apartment or home is strictly your responsibility to protect. The homeowner’s policy covers the building and land only.
What Renters Insurance Covers
New Hampshire renter’s insurance will normally offer you three types of protection:
Personal possessions – This will protect your personal belongings against loss and damages due to theft, leaky water pipes, fire, smoke, vandalism, and various natural disasters. Floods and earthquakes generally require separate coverage.
Liability – This protects you in the event a person visiting your home injures themselves and sues you for damages. This policy provides medical coverage for the injured person’s medical bills.
Additional living expenses – If the place you are renting is damaged or destroyed by a natural disaster covered by your renter’s policy, your temporary living expenses, such as a hotel room, will be paid for along with restaurant meals.
Our trained agents are available 24 hours a day to assist you in finding the best New Hampshire renter’s insurance policy for the money. No one likes to think about losing their possessions to theft or fire or some other disaster. We can help you navigate through the many plans and options available so that you get the coverage you deserve at a fair price. Start enjoying the peace of mind that comes from knowing that your personal property is protected by renter’s insurance coverage. Contact us today!
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