How to Obtain Renter’s Insurance
Hi. I’m Jerry Becerra, with Barbary Insurance Brokerage, and today I want to talk to you a little bit about how to place renter’s insurance. Renter’s insurance is a really important product a lot of people don’t bother to buy, but it covers your property, it covers your liability and it also covers your loss of use of your rented space. So, for instance, let’s say there’s a fire and the fire came through and you lost a lot of property and then you might have to live somewhere else while the building’s being rebuilt or you might have to relocate. Your renter’s insurance is going to provide money for that as well. It also provides worldwide coverage on your personal property. So, if you’re traveling, you’ve got a suitcase with you and it’s lost, your luggage is covered wherever it is. If something is stolen out of your car, your renter’s insurance is going to cover that. So, renter’s insurance has a lot of uses that people frequently don’t even think about. Now, many companies write renter’s insurance, that’s very common. But, the place I would start looking, if I were you, is the company that writes your automobile insurance, call them, find out if they can offer it to you. Because, usually, there’s a multicar discount – a multi-policy discount involved. So, if you’ve got your auto insurance with them and then you place renter’s insurance with them, you’re probably going to get about 15% off of each policy. Now, a renter’s insurance policy is not that expensive, frequently they’re in the range of $250.00 to $300.00 a year. So, if you’ve got a couple of automobiles and you get a discount on your auto coverage, you’re practically getting your renter’s insurance for free and so you’re broadening all your coverage, getting everything you need and probably not spending that much money. It’s definitely worth looking into. Don’t buy minimum coverage limits, really take a look at what you’re doing, how much property you’ve got in your unit and see what it would cost to replace it and then buy as much as you can for it. And, check out low deductibles. I know people try to save money by buying a higher deductible and it makes since sometimes but, a lot of times, it doesn’t make very much sense. If you’re not making up the difference in the deductible in about three to five years by saving premium, you probably should buy a lower deductible and save the difference there. Because, if you have a claim, you’re going to wish you did. That’s my advice on renter’s insurance and good luck. I’m Jerry Becerra, with Barbary Insurance. You can find out more about me and coverage at www.BarbaryInsurance.com.