Research has shown that renters are 52.6 percent more likely to be burglarized than homeowners are. In addition, those who rent are 35 percent more likely to experience theft than homeowners are. The question is: How does a renter protect their personal items?
Renters’ insurance may provide protection from theft including: theft on the premises (in your home), theft off the premises, stolen or forged checks and stolen cards/counterfeit money. “You have a lot of money invested in your personal property — and it’s worth protecting,” says Krista Conte, Allstate spokesperson in New York. “Remember, as a renter, you could experience a loss due to something you have no control over.”
Allstate Insurance Company provides the answers to some common renters’ insurance questions:
How do I make sure all of my belongings are covered under my renter’s policy? How is it updated?
“The kinds of things we are buying are changing,” says Conte. “While your parents may have spent a lot of money on furniture, you may find yourself spending more on home electronics and trying to figure out which remote to use.” Allstate recommends that you create an inventory of all of your belongings. While it’s important to include possessions such as televisions, stereo equipment and CDs, it’s also important to remember to include EVERYTHING that’s contained in your dwelling. The cost of replacing your clothing, linens, dishes, etc. will add up quickly in the event of a loss. It’s important to keep that inventory list somewhere outside of the rented residence. If your residence suffers a loss from fire, etc. you don’t want to risk losing the only copy of your inventory.
If I am a renter, are my things covered under the building’s insurance policy?
That is a very common misconception. The contents located in an individual’s rented home or apartment are generally not covered under the landlord’s insurance policy.
If I have a dog, will it be covered under my renters’ insurance?
Dog owners are liable for injuries that are caused by their pets. It is essential for people to monitor their pet, and do everything they can to prevent their dog from biting someone. Dogs are covered under renters’ insurance; however, there are certain breeds that are deemed unacceptable.
What if a tragedy forces me from my apartment? Would temporary living accommodations be covered under my policy?
Most renters’ policies will cover a reasonable increase in living expenses necessary to maintain your normal standard of living for up to the amount of time specified in the policy, if a covered loss makes your residence premises uninhabitable (subject to policy terms and conditions).
Conte reminds us, “Your landlord insures his/her property, not yours. Renters’ insurance helps protect you and your belongings. And it costs less than you think.”
For additional information on renters’ insurance, contact a local Allstate agent by calling 1-800-Allstate or by visiting www.Allstate.com.
