Call Us Contact Us
Young Insurance Young Insurance
  • Home
  • About
  • Services
    • Personal Insurance
    • Auto Insurance
    • Home Insurance
    • Life Insurance
    • Health Insurance
    • Commercial Auto Insurance
  • Policy
  • Claims
  • Blog
  • Contact
  • Quick Quote

    NextPrevious
    While it is the landlord’s responsibility to insure the building, take care of necessary structural repairs and cover resulting from issues related to the building itself, any injuries when you rent an apartment, unit or home, you still play a role in insuring your home with your own policy as a renter.

    Why Should I Buy Renters Insurance? Is It Really Worth It?

    By Young Insurance | Renter Insurance | Comments are Closed | 13 May, 2021 | 0

    What Is Renters Insurance?

    Unlike homeowners insurance, which has a dwelling or structural coverage, renters insurance is a policy that protects the renters from taxing, over-budgeted expenses in the event of unexpected occurrences like fire or robbery.

    What Does It Cover?

    Renters insurance policies cover expenses such as

    • the replacement of personal property,
    • loss of use in the event of displacement from your home or daily activities, and
    • liabilities related to an injury sustained by visitors to your rented home.

    In such cases, you can file a claim with your provider and receive benefits based on the amount agreed. It is, however, possible to get additional coverage, as most providers usually offer add-ons to your policy, also known as endorsements. These are great for extra protection and assurance over and above your existing policy.

    Types of Renters Insurance Coverage

    The following are the three main coverages offered by a standard renters insurance policy.

    • Loss of Use: It helps cover extra expenses that might arise after the occurrence of a covered event. For example, if after a robbery or fire you’re displaced from your home and have to pay for a hotel room/meals, your policy will cover these unexpected costs.
    • Personal Property: This type of coverage is important for many people, as it gives them the assurance of a definite replacement of their personal belongings after an unexpected but covered event.
    • Liability: This covers expenses (medical and legal) related to injuries sustained by a third party within your property, even if you aren’t at fault.

    Note that while buying renters insurance, there are two options that you might consider

    • Actual Cash Value (ACV)-which is cheaper since it only covers the depreciated value of a renter’s personal items,
    • Replacement Cash Value (RCV)- which covers the entire cost of replacing the property at today’s market value without deducting depreciation.

    Is Renters Insurance Really Worth It?

    Having renters insurance may be mandatorily required by your landlord so that they are not held responsible for any injury within your rented home. Besides, having adequate renters insurance will protect your personal items from events that are not covered by your landlord’s insurance. Even when not required by your landlord, renters insurance will give you peace of mind and protect you from financial liabilities that arise due to unexpected future losses.

    If you’re skeptical about committing too much money to a renters policy at first, shop around for reasonable prices offered by trusted providers. At Young Insurance, we can help you determine the factors that affect your renters’ insurance premium rates. Schedule an appointment today and find out how we can help you protect your home and keep your insurance premiums more affordable.

    Renters Insurance

    Young Insurance

    Whether you are shopping for auto insurance, home, health, life or business insurance, our highly experienced team of insurance agents can help you find the right coverage at the lowest rate no matter what your needs are.

    More posts by Young Insurance

    Related Post

    • Young Insurance logo

      Welcome to our Blog!

      By Young Insurance | Comments are Closed

      The Young Insurance Agency is proud to bring you our newest online information center. In the coming weeks and months you can expect to find frequently updated content and articles of information regarding all-things insuranceRead more

    • http://younginsurance.wpengine.com

      Tips for Calculating Car-Loan Payments

      By Young Insurance | Comments are Closed

      In an effort to empower car buyers with below-prime credit, CarFinance.com released the following auto-financing tips which provide advice on calculating potential auto loan payments by identifying the car, and monthly loan payment, they canRead more

    • http://younginsurance.wpengine.com

      Understanding Travel Insurance

      By Young Insurance | Comments are Closed

      Travel insurance is protection against those unexpected bumps in your travel plans, and may be well worth considering now that hurricane season is underway. However, just like trying to buy homeowners insurance after the houseRead more

    • http://younginsurance.wpengine.com

      Question of the Day

      By Young Insurance | Comments are Closed

      Q: What kind of home insurance should I get? A: A standard policy will do in most instances. It protects against several natural disasters and catastrophic events. However, it will not guard against earthquakes, floods, war,Read more

    • http://younginsurance.wpengine.com

      Mortgage Insurance Cancellation: The Myths and Realities

      By Young Insurance | Comments are Closed

      By Brien McMahon When it comes to private mortgage insurance (MI), there are several myths that exist that make buyers reluctant to consider a conventional loan with MI as an option when purchasing a home.Read more

    • http://younginsurance.wpengine.com

      Getting Smart About Your Debt

      By Young Insurance | Comments are Closed

      Americans’ recent push to eliminate their debt is placing many families at risk. The most recent Federal Reserve Bank of New York Quarterly Report on Household Debt and Credit shows that Americans reduced their debt by approximatelyRead more

    • http://younginsurance.wpengine.com

      Foundation Facts: Things to Consider When Repairing

      By Young Insurance | Comments are Closed

      With foundation repair costs in the thousands of dollars, most homeowners have to find ways to finance the project. What can make the project even more cost-consuming is choosing the wrong company and dealing withRead more

    • 4 Tips to Keeping Homeowners’ Insurance Costs Down

      By Young Insurance | Comments are Closed

      By Stephanie Andre Saving money has never been so trendy. Long gone are the days of irresponsible spending, so why be irresponsible with your homeowners insurance? Taking a little bit of time to research yourRead more

    NextPrevious

    Recent Posts

    • Know About the Most Common Home Insurance Claims?
    • What Should You Know About Family Floater Life Insurance Policy?
    • Major Life Insurance Myths Debunked
    • What Are the Ways to Save Money on Auto Insurance for Teens?
    • Can I Get a Good Auto Insurance Quote Online?

    Recent Comments

    • Lighting Safety: It's Time to Decorate for Christmas! on Safety Tips for Driving in the Rain

    Archives

    Categories

    • Archives
    • Auto
    • Auto Insurance
    • Business
    • Commercial Auto
    • Halloween
    • Health & Life
    • Health Insurance
    • Home
    • Insurance
    • Lifestyle
    • Pet Insurance
    • Renter Insurance
    • Uncategorized
    • Vehicle Insurance

    CONTACT US

    24942 Greensbrier Dr
    Stevenson Ranch, CA 91381
    Monday – Friday
    9am – 5pm PDT
    Office: (818) 840-0246
    Fax: (818) 953-9341

    Recent Posts

    • Common Home Insurance Claims

      Know About the Most Common Home Insurance Claims?

      Life is unpredictable. Even with excellent intentions, maintenance schedules, and insurance coverage,

      24 August, 2022
    • What Should You Know About Family Floater Life Insurance Policy?

      What Should You Know About Family Floater Life Insurance Policy?

      What Is Family Floater Health Insurance? A family floater, health insurance plan,

      10 August, 2022
    • life insurance myths debunk

      Major Life Insurance Myths Debunked

      Purchasing a life insurance policy is often met with hesitation, doubt, or

      27 July, 2022
    • What Are the Ways to Save Money on Auto Insurance for Teen

      What Are the Ways to Save Money on Auto Insurance for Teens?

      As a parent, it can be daunting to think about your teenager

      13 July, 2022

    Quick links

    • Home
    • About
    • Services
    • Manage Your Policy

    Quick links

    • Claims
    • Quick Quote
    • Privacy Policy
    • Contact Us
    • Sitemap
    © Copyright 2023 YOUNG INSURANCE | Privacy Policy | Insurance Agency Website by Stratosphere
    • Home
    • About
    • Services
      • Personal Insurance
      • Auto Insurance
      • Home Insurance
      • Life Insurance
      • Health Insurance
      • Commercial Auto Insurance
    • Policy
    • Claims
    • Blog
    • Contact
    • Quick Quote
    Young Insurance

    Get a Quote