Recent studies have shown that nearly two-thirds of 81 million homeowners who rent their apartments are uninsured for their content and any liability emanating from their tenancy. Don't be part of these statistics! Contact us at Arcadia Insurance Group in Minnesota.
Moving into a new condo is a thrilling experience. Still, it's imperative to go the extra mile to acquire renter's insurance, which will protect your personal property against damage or loss if a peril strikes. Renters insurance is not mandatory in Minnesota for tenants, but in some instances, the landlord may ask you to produce renter’s insurance as part of a lease agreement.
If you are considering renting a home, you must protect yourself and personal belonging. To avoid these stressful moments when uncertainties arise, we recommend visiting us at Arcadia Insurance Group in Minnesota to obtain a salient renter’s insurance that suits your needs and budget.
Types of Renters insurance offered at Arcadia Insurance Group.
Personal property coverage.
This type will protect your belongings if they get damaged, stolen, or destroyed in a covered hazard. This coverage caters to replacing your items even if they are stolen when you are off your property.
This policy cushions you from paying out of pocket for individual costs if you are found to be legally responsible for damage to other people's property or their injuries.
Additional living expenses.
If you rent a house and get damaged by peril like fire and rendered, unhabitable the renter's insurance may help. This policy enables you to cater for costs you incur, like food expenditure, when you do not live in your rented house after a covered loss.
What is covered by Renters Insurance?
This policy covers the following perils:
- Windstorm and hails.
- Falling objects.
- Fire and lighting.
- Damage by aircraft.
- Freezing of plumbing, heating, or air conditioning.
How much personal property coverage do I need?
It's imperative to decide how much personal property coverage you need when deciding to buy this insurance cover. The best way to determine how much personal property insurance you need is by taking stock of all your possession. Characteristics of an outstanding inventory should feature the following:
- Video or photos of your items.
- The estimated value of your items.
- The estimated year, the items were purchased.
- A receipt or bank statement showing the purchase or price
Are you a resident of Minnesota considering renting a house? Call us or visit our Arcadia Insurance Group offices and start your insurance journey with us!