Renting a Home? Protect Your Assets with Renter’s Insurance

When you rent a home, condo, or apartment, your landlord is responsible for its upkeep and repairs. Damage to your rental property is generally covered by your landlord’s insurance policy. But what about your personal property? Who’s responsible for your valuables? Why, YOU are, of course. One of the best ways to protect your goods is with renter’s insurance from Highpoint Insurance Group, serving the greater Dadeville, AL community.

About Renter’s Insurance

Renter’s insurance provides an affordable, practical way of protecting your assets from events like theft or fire that can cause financial loss. A typical renter’s insurance policy offers property, liability, and additional living expenses coverage.

Property insurance protects your belongings – clothes, jewelry, furniture, electronics, home goods, appliances, etc. If these goods are stolen, vandalized, or damaged in a disaster, property insurance will help cover their repair or replacement costs.

Liability insurance kicks in when someone has an accident while visiting your rental property. If the accident results in injury, liability insurance will help cover medical costs. Liability insurance will also pay for accidental damage to a visitor’s property, such as a broken laptop or damaged car.  

If your rental home is damaged in a disaster and you need to leave while repairs are made, additional living expenses coverage reimburses you for the costs of living elsewhere during this time.

Why You Need Renter’s Insurance

Life is full of unexpected surprises, good and bad. Renter’s insurance protects you from the unexpected, so you’re not caught completely off guard. If you have valuable possessions, renter’s insurance is a must to avoid financial loss. Even if you live modestly, you can benefit from the financial support that renter’s insurance can provide when you need it most.

Where to Obtain Renter’s Coverage

To purchase a renter’s insurance policy, contact Highpoint Insurance Group. We proudly serve the greater Dadeville, AL region.

Can I Cancel My Renters Insurance Policy At Any Time?

The answer is that it depends on your particular policy. Some policies allow for cancellation at any time, while others may have specific requirements or conditions that must be met first. The best way to find out for sure is to contact your insurance company and ask them directly. 

At Highpoint Insurance Group, we understand that life circumstances can change and that you may need to cancel your policy at some point. We also know that it can be confusing to try to figure out all the details on your own. That’s why we’re here to help! Our team of knowledgeable insurance experts in Dadeville, AL would be happy to review your policy with you and answer any questions you may have. 

Why You Might Cancel Your Policy 

There are a number of reasons why you might need or want to cancel your renters insurance policy. Maybe you’re moving to a new location where your landlord already has insurance in place. Or perhaps you no longer feel like you need the coverage, either because you don’t have many possessions or because you’ve decided to self-insure. Whatever the reason, if you do decide to cancel your policy, there are a few things you should keep in mind. 

First, most companies require advance notice before canceling a policy. This gives them time to process the cancellation and prevents any lapse in coverage. Second, if you have a claim on your policy that is currently in progress, canceling the policy will not affect the status of that claim. However, it is important to note that once a claim is paid out, the policy cannot be reinstated. 

Finally, it’s worth mentioning that some insurers may charge a cancellation fee, so be sure to ask about that before making a decision. 

Contact Us Today 

Canceling your renters insurance policy is not always as simple as just stopping payment—in most cases, there are specific steps involved, and certain conditions must be met first. The best way to find out what those are is to contact your insurance company directly and ask them. At Highpoint Insurance Group in Dadeville, AL, we’re always happy to help our customers understand their policies and make the best decisions for their needs.

What Happens If You Don’t Have Renters Insurance?

At Highpoint Insurance Group, we help Dadeville, AL, area renters get the insurance they need to be safe. But what happens if you don’t get an insurance policy when renting a home?

Why Renters Insurance is Wise 

While there is no law saying that renters need insurance for their homes, it is almost always a good idea to get a policy that covers you. Why is that the case? Let’s look at a hypothetical example of what could happen to you if you don’t pay the small money necessary for a renters insurance policy. 

You’re renting a home from your landlord, and things are going fine. However, a storm hits one day, and the house gets leveled due to a tornado. The landlord’s homeowners policy will cover the structure and replacement of the home. But not your items – that’s what your renter’s insurance policy covers. 

So, instead of getting financial help from your policy, you end up having to pay for replacing things like your bedding, all of your electronics, and much more. Many people never fully recover emotionally or financially in a situation as damaging as this one. 

That’s why it’s better just to set up a renters insurance policy, even if your landlord doesn’t technically require it of you. Doing so will help to pay for any of the problems you might otherwise experience and help you recover after a serious issue – it can even pay for minor issues, as well.

Coverage is Worth Paying For Your Protection

If you are renting your home and you want to avoid severe and unnecessary complications, make sure that you get renters insurance right away. Then, contact us at Highpoint Insurance Group, and we can serve your Dadeville, AL area needs. We’ll do what we can to help keep your goods safe.

Why should I get renters insurance?

Anyone moving to the Dadeville, AL area will have many different housing options to choose from. One great option to consider would be to rent a home. Those that rent do not have nearly as many responsibilities as property owners and will have more flexibility. However, those that rent an apartment or other home still need to consider their insurance needs. There are several reasons why someone should get a renters insurance policy. 

Insurance is Required Under Lease

One reason you will need to get a renters insurance policy is that it will be required in your lease agreement. Any sophisticated landlord will have a provision in their lease that requires all tenants to get a renters insurance policy. They want tenants to have this coverage as it helps to mitigate some risks that come with being a landlord. In many cases, you will have to pay for a year’s policy up front before moving into your new home. 

Insurance Gives Important Protection

Another reason that you should get a renters insurance policy is that you can receive valuable coverage. Whenever you rent a home, there is going to be a chance that you could be found liable for an accident that causes bodily injury or property damage. The best way to mitigate this risk is by getting renters insurance, as it will include liability coverage. This insurance also protects your personal belongings. 

If you are going to rent a home in the Dadeville, AL area, you need to consider your insurance needs. The team at Highpoint Insurance Group can help you better assess your renter’s insurance needs. Highpoint Insurance Group will help you understand your needs and options, which will make it easier for you to pick an ideal policy.