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Georgia’s economic opportunities and hospitality continue to attract new residents. Stabilized costs of living and favorable property values also sweeten the pot. When looking for a home, you might find the solution you need in renting a property.
The 2018 average fair market rent for a 1-bedroom home in Macon-Bibb County is $677/month, while a four bedroom home costs $1,250/month, according to RentData.org. That’s an investment worth protecting. So, upon moving into a rental home, ask your landlord if they require you to buy renters insurance. Often, they will, and for good reason.
Call your neighborhood Freedom Insurance agent for a no-obligation quote on renters insurance now!
What does renters insurance cover?
Renters insurance helps a home’s tenants protect themselves in case of costly, damaging accidents in the home. Rather than pulling out your own wallet to cover these costs, you can let your insurance pay for your losses. Most policies will include several types of coverage, including:
- Possessions Insurance to cover your belongings in the home.
- High-Value Items Insurance to insure specific items like jewelry and art.
- Liability Insurance that pays if you accidentally harm other people or their property.
- Pet Bite Liability Insurance pays when your pet harms someone else.
- Loss of Use Insurance covers costs of living if you have to temporarily move out of the home.
Policies will have their limitations. However, if you have specific risks you are interested in covering, don’t hesitate to talk to one of our agents.
What type of events does renters insurance cover?
The good thing is that a renters policy can immediately help you out in numerous situations, including:
- Fires in the home
- Storms that makes the home uninhabitable and damage your belongings
- Theft and vandalism to your personal items
- Covering legal costs you might encounter if someone sues you
Policies will pay for your belongings and the liability risks you pose to others. However, it will not cover the home’s structure, since you don’t own it. Any damage to it will fall under the landlord’s insurance.
How can I figure out how much my stuff is worth?
We recommend you carry coverage for the full value of your most-important belongings. It helps to keep receipts for important purchases (jewelry, computers, furniture, certain clothing) so that you can verify them later on. You can also get the items appraised and documented by a professional. We can help you determine what documentation your insurer will need to be able to insure the items correctly.
Does my insurance cover my roommate?
If you and your roommate are not related to each other, then you need to buy separate policies. By insuring all roommates on one policy, assets and liabilities combine, which might create headaches when filing claims and maintaining your overall insurance profile.
Does renters insurance cover tenant damage?
If your rental property sustains damage, you often won’t have to pay for the repairs. Instead, that’s up to your landlord. However, a situation might arise where your landlord blames you for property damage, such as if you accidentally cause a fire in the apartment. In this case, your liability insurance might be able to compensate the landlord and others for their property damage.
Do you have to renew renters insurance?
You will have to renew your policy at least every year. You will also have to make updates to your policy if you move, even from one unit to another in the same apartment complex.
What information is needed to get renters insurance?
If you need a renters insurance policy, don’t hesitate to contact Freedom Insurance. Usually, it doesn’t take much information for us to help you get the right policy. We can even start the quote immediately, and work one-on-one with you to choose the right protection.
Call us at 478-784-1885 or request your online quote immediately. We can jump into action and make sure you can get covered quickly, efficiently and affordably.
Don't forget, we also offer Motorcycle Insurance and Auto Insurance throughout Georgia.