Often renters assume they don't need household insurance because they're not the "owner." The real truth is, renters may sustain losses not covered by the policy carried by the property owner. That's why there is a specific type of insurance just for renters.
The Value of Renter's Insurance It's important to know that a renter's personal property isn't protected under the homeowners insurance policy. An owners insurance only covers the structure of the house, and the piece of property it is located on; not any furniture or belongings the renter brings into the house. Homeowner's insurance is designed to protect the owner's property only, and only their liability as well.
That's why Evergreen Property Management requiresevery tenant (unless minimum income requirements to waive this requisite are met) to carry a minimum of $100,000.00 renters insurance policy, to cover their property and liability. Most renter's insurance policies cover events such as theft, fire, windstorms, hail, vandalism, and often more! The two most common exceptions are earth quakes and floods, however, policies to protect against those events as well can be purchased as endorsements to an existing renter's insurance policy. Be aware that most renter's insurance policies have coverage limits, and look for a policy that will suit your individual needs. A licensed insurance agent should be able to assist you with getting coverage limit quotes and information. If you check with the insurance agents that carry your automobile insurance, they may be able to offer you discounted rates. Rent's insurance is a great value for the protection it provides. Please remember to list Evergreen Property Management as an "interested party" on your policy.
If you have any other questions or concerns, please feel free to contact Evergreen Property Management. We're happy to help!