Insure the “What-Ifs”: Renters Insurance Offers Peace of Mind

Insurance policies come in a variety of types and sizes, and while many of them are well-known (i.e., homeowners, health, life, auto), other types aren’t totally understood, and that could be a costly oversight on your part.  One such policy is renters insurance.  Renters insurance operates much like a homeowners policy, except it’s for renters.  While it won’t cover the actual property on which you live or the house (or apartment) you live in since those belong to your landlord, it does cover your personal possessions that could be lost or damaged in the event of a fire, flood, theft, etc.

Renters insurance essentially covers the “what-ifs” of your life while you are in the season of renting a space.  Whether it’s a rental vacation home, or your full-time residence, failing to have your belongings covered could be a huge financial mistake if tragedy strikes and your home gets hit with a natural disaster, a break-in, or worse.  Keep in mind, much like homeowners coverage, that certain items will still require additional policies be taken out on them (like weapons, expensive jewelry, etc.), but most of your items will be eligible for replacement with your renters policy.

So, who should consider getting renters insurance NOW if they haven’t already?

• college students.  If your student is heading back to campus for classes, but will be living in an off-campus apartment, condo, or house, you need to insure their possessions with a rental policy.  Discuss your situation with your insurance advisor (or give us a call if you’re in or around the Winter Haven area) to make sure you are covering your own student and not paying for the entire houseful of college kids sharing a home.
• newlyweds.  Many newlywed couples don’t think about rental insurance.  While merging their healthcare policies, their life insurance coverage, and making sure both names are on various auto agreements, they often forget about insuring their possessions within their new rented home or apartment.  Many couples start out renting before they buy, so this is a vital coverage plan for them.
• elderly loved ones.  If your aging parent or family member is living in a facility (like assisted living or monitored apartments), they could be in need of a renters policy, depending on the location where they reside.  It’s worth checking on the coverage of their living space to be sure their belongings will be replaced in the event that tragedy strikes.

If you have questions or concerns about your own insurance situation, give us a call!  Carroll Marshall Insurance can help you cover the “what-ifs” that life throws your way, whether you rent your space, own your home, or simply need to cover a boat, RV, or other “toy”.  We are proud to serve the greater Polk County area of Central Florida, so call us and make an appointment or stop by our downtown office!