Why Do I Need Renter's Insurance in Pensacola, FL?
All too often, life is defined by the unexpected—especially if you live in rental property. What are your neighbors doing upstairs? What was that loud BANG! from the next-door apartment? You can’t control or predict what neighbors do. Neither can you direct the weather nor prevent every possible mishap. Accidental fires or other kinds of accidents and disasters can strike anyone, anytime. And sometimes, even the most stringent precautions won’t prevent you from being targeted by vandals and/or thieves.
That’s why renter's insurance is critical to protecting your assets. Your landlord probably maintains some type of tenant insurance, but this coverage is bare-bones and will reimburse you for almost nothing—if that. Without a doubt, landlord insurance provides zero reimbursements for your personal stuff.
Your Stuff Might Be Worth More Than You Think
Because you’re a renter and not a homeowner, you might believe you don’t need renter's insurance; you simply don’t have enough assets—or so you believe. For most people, this simply isn’t true. Unfortunately, many renter's simply don’t realize how much they stand to lose. For example, the average tenant owns more than $35,000 worth of personal possessions, most of them kept in the rental unit. And $35,000 is an average. Many tenants own significantly more, and others own substantially less. And it’s a given that landlord insurance won’t cover any of your possessions. If an unexpected disaster destroyed all your stuff, do you have $35,000 in liquid assets to buy replacements? What about $20,000 or $25,000 in cash? How about $50,000 or more in cash?
If you answered "no" to these hypotheticals, it’s time to buy renters insurance or, maybe, increase your coverage amounts!
What Does Renters Insurance Cover?
A good renter's insurance policy will protect most, if not all your valuables. Proper renter's coverage will reimburse you for losses incurred from unexpected disasters. Those monies make it easier to recover and get back to life-as-normal. A Pensacola, FL renter's insurance policy from Kevin O'Neil Insurance protects you from fires, wind and hailstorms, lightning, theft, and other unanticipated mishaps, including aircraft and motor-vehicle accidents—even riots.
What is Excluded from My Insurance Policy?
Like other insurance policy types, renter's insurance also excludes coverage for specific event types:
- Floods
- Earthquakes and mudslides
- Settling
- Natural deterioration and neglect
- Bird, rodent, insect, and domesticated animal damage
