Years ago, I went to work for a large, nation-wide bank. This bank provided insurance products along with banking products, and it was there that I got my first experiences in helping my clients protect and insure their most treasured possessions. One of the ladies that I had the pleasure of meeting was actually the mother of the Branch Manager. Together, they told me a horror story which I have never forgotten.
My Branch Manager had told her mother that she should look into getting a Renter’s Insurance policy. Her mother agreed that it would be a great idea, but she put it off for another day. Time slipped away, as it often does. Eventually, the purchase of Renter’s Insurance made its way back onto her to-do list. She got into her car, and headed to the bank to finish the task.
While she was in route to the bank, she got a phone call with terrible news.
“Our apartment building is on fire!”
To her dismay, she found out that a neighbor’s apartment had caught on fire. The awful result was that her building was a total loss, and her belongings were destroyed. She had no Renter’s Insurance, and had to start from scratch putting her belongings back together.
Now, as an Insurance Agent, I often think about her story.
I recently saw a shock statistic that stated that only 37% of American families who are renting their dwelling have Renter’s Insurance!
As your Ultimate Advocate, I’m going to tell you the TOP FIVE reasons why YOU should have Renter’s Insurance!
- Your landlord’s insurance policy has ZERO provision for your belongings! It’s not a matter of whether or not they want to cover your things, but the fact is that since there’s no way to know what sort of belongings you may have, your landlord’s insurance company cannot accurately predict how to appropriately insure them – and so the landlord receives no coverage for those items.
- Your belongings are more valuable than you think! Think with me… If you went RIGHT NOW to your sock drawer, how much money would it take to replace JUST the socks in your sock drawer? Now, add to that cost the expense of replacing ALL of your clothes, your electronics, your furniture, or even your renter-supplied appliances like your refrigerator. That’s a LOT of money isn’t it? Most people severely underestimate the cost of things that they’ve accumulated over time – but there are often years-worth of items that you have moved with you into your apartment.
- You are missing out on TREMENDOUS discounts! Some of the biggest discounts available to you are the combo discounts of having two types of policies connected together. In fact, it is not uncommon for a policyholder to experience a DROP in total monthly costs after having added the extra policy! Now who wouldn’t like THAT?
- Most policies provide for REPLACEMENT COST of your belongings! If you’ve had to provide your own refrigerator for your living space, how much is that refrigerator worth at a garage sale? $200? Less than that? Now how much would you have to pay if you went to buy a BRAND NEW refrigerator? I think you would experience some sticker shock if you had to go by that brand new refrigerator. Here’s the kicker – most Renter’s Insurance companies won’t write you a check for what your refrigerator is worth, but instead will write a check to you for what it would take to REPLACE your refrigerator! Now THAT is exciting!
- Renter’s Insurance also provides you Loss of Use coverage! Now picture this: you’ve been informed that your rental home or apartment has burned to the ground. Where are you going to stay now? Does your landlord have alternative locations for you to stay? And if not, do you have enough cash on hand to provide a new deposit for your next apartment? GUESS WHAT! Your Renter’s Insurance Policy provides you money to live at another location as either the new deposit or to fund your temporary housing until the apartment or house can be rebuilt (subject to the limits of your policy, of course)!
Call us today, or fill out one of our quote forms (www.rockdalelifeagency.com/renters-quote.html), and we’ll get you protected!