It’s amazing how many renters we come across that dismiss the idea of purchasing renters insurance.

I blame myself for not selling the client on the idea that the cost of renters insurance (this goes for personal and business use), is a fraction of the cost of the coverage.

Bare minimum Renters insurance customarily cost 1% of the actual coverage purchased.

Example, most carriers have a minimal threshold of $20,000 of contents coverage with $25,000-$100,000 of liability. Cost: $100-$300 annually / ~ $8-25 monthly.

I understand most renters undervalue their contents (personal property) as well as their exposure to the cost to find another place to live if ever a covered loss occurred (ex. fire or wind damage) that would make the building inhabitable. Renters insurance would cover a % of the cost above normal expenses to rent another residence/business building.

Not only does renters insurance help with personal property contents and living expenses, it also offer defense cost in case you were ever brought into a suite for bodily injury or property damage to someone else…even if you aren’t truly at fault, you will have defense cost.

So the value of $100 annually could save your thousands.

I understand renters may not feel a strong attachment to their property, but the cost rewards for renters insurance is a no-brainer…the application only takes about 5 minutes and there are very few questions (mainly age of building and exterior construction characteristics).

It’s simple, inquirer about renters insurance and be amazed by the results.

You may even save 10-20% on your auto insurance if the carrier has multi-line discounts. The savings PAYS for the renters insurance policy!

Go foward!

Here to help, not hinder… hopefully!