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When renting a home or apartment, the homeowner’s insurance policy covers the structure of the home. However, you’ll require a renter’s insurance policy to safeguard your belongings. We are pleased to offer renter’s insurance at Windgate Insurance Agency Inc. in New Windsor, NY.
Personal Belongings Coverage
Most people tend to underestimate the amount of coverage they need for personal belongings. Imagine if everything in your home was destroyed—how much would it cost to replace everything? You’ll find the costs accumulate swiftly.
You can carry out a home inventory to ascertain how much personal belongings coverage you need. List all the items you own and their approximate value, then add them up. You’ll need at least this much coverage.
If you own expensive items like jewelry or antiques, you may need a rider to protect these items fully. Personal possessions coverage typically has limits for each category of item—a rider will ensure you are completely covered.
Liability Coverage
Liability coverage is often overlooked, but it’s crucial. You are financially responsible for the injury if a friend visits and breaks a leg.
Liability coverage will take care of medical bills and other expenses in such situations. It also covers damage to another person’s property when they’re at your home.
Typically, you’ll want liability coverage equal to or greater than your net worth.
Additional Living Expenses Coverage
If your home becomes temporarily uninhabitable, you’ll accrue unexpected expenses. Additional living expenses coverage can help weather this financially challenging time.
This part of the insurance policy can cover the added cost of hotel or rental accommodations, food, and extra transportation.
Renter’s Insurance with Windgate Insurance Agency Inc.
If you need a renter’s insurance policy in New Windsor, NY, contact Windgate Insurance Agency Inc. Our experienced agents will discuss your needs and goals to help you choose the right policy.
