What Coverages are Included in the Typical Renter’s Insurance Policy?

Having the right level of protection for your rental is essential. Renter’s insurance is designed to cover liabilities and more. If you need quality insurance coverage, you can count on Will Wright Agency Inc. to provide the residents of Decatur, AL, with insurance products they can count on to give them peace of mind. 

Renter’s Insurance Coverage

Renter’s insurance provides the policyholder with three basic types of coverage. They include liability, personal property, and alternate housing. Although some insurance policies may vary slightly, most offer these benefits. Before you purchase your policy, you should consult with your insurance agent to determine the terms and conditions and ensure you understand precisely what is and isn’t covered. 

Our team is dedicated to ensuring we provide top-notch customer service. Our agents will work closely with each individual to determine their current and future needs. They can then match the information with policies that offer the most benefit. Once your policy is secured, you can count on our agents to provide you with support for policy changes or to submit a claim. We aim to ensure you get the protection and services you need to be secure. 

Contact Will Wright Agency Inc. Today

Securing adequate renter’s insurance is essential. If you live in or around the Decatur, AL, area, you can call or stop by the Will Wright Agency Inc. office and schedule an appointment to speak with one of our agents. They can provide you with more information or answer any questions. We take pride in offering our customers insurance products they can rely on to keep them covered against various risks as a renter. 

Three important features of renters insurance to be aware of

There are plenty of great reasons why renters should carry renters insurance. At Will Wright Agency Inc., we can offer insurance policies for renters in Decatur, AL.

Renters must understand the features of renters insurance when they buy a policy. Here are three important features of renters insurance to be aware of. 

Coverage for medical expenses

Renters should know they can be considered liable for accidents within their rental unit. This means that you might be expected to pay medical bills if you invite a guest to your rental home and that guest becomes injured.

Fortunately, the liability coverage that renters insurance policies include will cover you for medical expenses. 

Coverage for damage to your belongings

Some renters don’t realize that renters insurance doesn’t only cover liability expenses. Renters insurance also covers the value of the belongings of the renter.

If your rental home becomes damaged, your belongings within your unit might be destroyed. With renters insurance, you can be covered for the value of your belongings when an accident happens. In fact, you can even be covered for the value of belongings in your vehicle that become damaged if you have renters insurance. 

Coverage for living expenses you face temporarily

One of the best things about renters insurance is that it can cover the expenses you face paying for temporary living quarters if your rental unit is damaged.

Your renter’s insurance can pay for you to stay in a hotel temporarily while your rental unit is being repaired or while you are looking for another place to live. 

Are you in the market for a renters insurance policy? Will Wright Agency Inc. offers renters insurance in Decatur, AL. Give us a call today to get a quote. 

The Top Five Reasons to Get Renters Insurance

Everyone knows that feeling of finally finding the perfect apartment. It has everything you need and want, plus it’s in a great location. You can’t wait to move in and make it your own. But even as you sign the lease, one more important thing to do is get renters insurance. Here are five good reasons why you should do so.

1. It’s Relatively Inexpensive

It’s easy to see renters insurance as an unnecessary expense, but the truth is that it’s relatively inexpensive. You can never compare the cost of your belongings to the price of a policy.

2. It Covers Your Belongings

Your landlord’s insurance covers the building itself but not your possessions. If there’s a fire or break-in, you could lose everything – and be left with no way to replace it. Renters insurance covers your belongings, so you can replace them if they’re damaged or stolen.

3. It Protects You from Liability

If someone is injured while on your property, they could sue you. Renters’ insurance includes liability coverage, which protects you in case you’re sued for damages. This ensures you won’t have to pay out of pocket if someone is injured on your property.

4. It Covers Additional Living Expenses

If your apartment is damaged and you need to find a new place to live, renters insurance can help cover the cost of additional living expenses. This includes things like hotel bills and restaurant meals.

4. It Covers Extra Expenses

If you have to move out of your apartment because of damage from a fire or severe weather, your renter’s insurance will cover the cost of temporary housing. This coverage can also help pay for things like food and other necessary expenses.

5. Some Landlords Require It

While not all landlords require renters insurance, some do. If your landlord asks you to get coverage, it’s a good idea to comply. Not only will this give you peace of mind, but it could also help you avoid potential legal problems later on.

Getting renters insurance is an intelligent way to protect yourself and your belongings. It’s relatively inexpensive and can save you a lot of money in the long run. Will Wright Agency Inc. offers renters insurance in Decatur, AL. Contact us today to learn more about our policies and how we can help you protect your home.

Renters Insurance FAQ

We at Will Wright Agency Inc. in Decatur, AL know that renter’s insurance can be confusing. We’re here to help you with concise answers to some of the most frequently asked questions about rental insurance.

What is Renter’s insurance?

It’s insurance that covers your belongings in the event of theft or damage. If a tree falls through your apartment and destroys your home stereo or if someone breaks in and steals your electronics, it is these policies that cover it.

What is the Difference between Renter’s Insurance and Homeowner’s Insurance?

Renter’s insurance is for belongings only, but typically homeowner’s insurance will cover the home as well. Since a renter doesn’t own their building, renter’s insurance only covers material goods.

Is Renter’s Insurance Mandatory?

We feel it is a great idea when you are renting to cover your belongings, however, renter’s insurance is not required or mandatory to have.

How Much is Renter’s Insurance?

The cost depends on the value of the property that is being insured, but typically policies are cheap to own. Area, credit scores, and the type of policy all factor into the cost as well. The average is about $300 a year according to the Insurance Information Institute.

What Will the Policy Not Cover?

Natural disasters, terrorist acts, and pest issues aren’t usually covered. There can be category limits on high ticket jewelry items and artwork. Talking to your representative can give you all the answers about what is and what isn’t covered.

Do you have other rental insurance questions or questions in general? We at the Will Wright Agency Inc. in Decatur, AL have the answers. Give us a call or come by today.

What if my apartment floods?

Will Wright Agency Inc. is proud to serve the Decatur, AL community and provide the insurance coverage our clients need. Renter’s insurance coverage can vary from policy to policy, and it’s important to check to see if you have the coverage you need. 

What happens if my apartment floods?

If there is any type of health and safety issue following the flooding of your apartment or rental home, the first and most important thing to do is get to safety. Once you are safe, you can take a look at how to move forward. Many areas of our community can require additional flood insurance policies or riders depending on the location.

If you have a comprehensive renter’s policy, you may have protection from flood damage. The first step is to contact your local agent to determine if it’s a good idea to file a claim. Next, take a careful inventory of all damaged personal items; this information will be key to your claim. In cases of severe damage, you may need to move to a safer location until your residence can be repaired and deemed inhabitable.  Be sure to keep thorough receipts of any expenses that you incur due to your loss. Depending on the coverage options of your policy, you may be entitled to reimbursement for some of these expenses. 

Count on the Will Wright Agency Inc. for all of your insurance needs

Decatur, AL is lucky to have a devoted insurance agency like ours! We love our community and are proud to serve our customers. If you need insurance of any type, give us a call or stop by our office, we are here to help!

Learn About Renter’s Insurance

Renting your home provides a great sense of freedom as well as the security of property management. However, there are still some responsibilities that fall to you as the renter. If you have been wondering about renter’s insurance, we are here to help. At Will Wright Agency Inc. serving Decatur, AL, we love the opportunity to educate our clients on insurance products, like renter’s insurance. 

What Is Renter’s Insurance?

Renter’s insurance is an insurance product that was designed for those who rent their homes rather than own. It is very important that you do not confuse renter’s insurance with the home insurance your landlord holds on your property. The property insurance policy a landlord holds on the property only protects the landlord in the case that the property is damaged somehow. This type of insurance offers no protection for your personal belongings as the renter. 

What Does Renter’s Insurance Cover?

Renter’s insurance provides coverage over your personal belongings which are housed on the rental property. This can include furniture, clothing, jewelry, technology, and anything else that is of value to you. If the rental property experiences a fire, natural disaster, or burglary and your personal belongings are damaged or lost, the insurance policy will reimburse you for your loss. 

Please remember that renter’s insurance is the only insurance product that protects the personal belongings of renters. 

How Much Insurance Do I Need?

The best way to determine the amount of insurance you will need is to sit down with an insurance representative. They will be able to evaluate the value of your belongings so that you can purchase the right amount of coverage. 

If you would like to learn more about our services, please contact us at Will Wright Agency Inc. serving Decatur, AL today. 

How Renters’ Insurance Works

When you are renting, renters’ insurance is an important part of your overall financial plan. Renting a house, apartment, condo or anything else would be a dangerous proposition without this insurance. It protects you in a number of ways from a wide range of incidents. If you are in need of this insurance for your rented home, contact us at Will Wright Agency Inc. in Decatur, AL to find out more and discuss your renters’ insurance needs. 

Protection Against Disasters and Calamities

If your rented home were to be hit by a serious catastrophe, it could make your home no longer habitable. If this occurs, your renters’ insurance would pay for you to live elsewhere. It would pay a number of expenses related to moving and not having your things. It is good protection against what would be a financial disaster after something serious happens. 

Protection Against Liability

If someone were to get sick or become injured while in your rental, you could be found liable for the medical expenses. When you have renters’ insurance, however, your liability is covered, and the policy would pay for the medical bills up to the maximums set forth in your policy. This is an important protection for you and your financial future. 

Protection for Your Possessions

If something were to happen that ruined your possessions or even destroyed them, it could be a serious financial blow that would be hard to recover from. However, renters’ insurance includes coverage for your belongings. It would help you to keep a steady standard of living even after disaster strikes. Instead of going without, you could replace your items with your insurance payout. 

Schedule an Appointment

Schedule a time to talk to an insurance agent by contacting us at Will Wright Agency Inc in Decatur, AL.

Variables Alabama Residents Should Consider While Researching Renters Insurance Policies

Based in Decatur, AL, Will Wright Agency Inc. serves the community by offering residents multiple types of insurance coverage. We strive to help our clients find policies that will protect them against unforeseen risks.

Renters Insurance Variables

If you are staying in a rental property in the Decatur AL area, renters insurance gives you peace of mind that you will be protected regardless of potential inclement weather or liability issues. The policy covers your property if it is damaged, as well as your personal goods inside the home in case they are stolen. Liability coverage is also important, as you will be covered if you have guests over to your property and they are injured. Here are some other variables to think about while you are researching different policies.

If you have luxury items at your rental property, make sure that you amend your policy to include special coverage. That way, your most prized possessions will be fully covered if they are stolen or an accident occurs. Consider having your luxury items appraised to determine their true value.

Also, keep in mind that your policy should cover you if your rental property is seriously damaged and needs to be repaired. Southern weather can be devastating when it’s severe. However, you can find some comfort in knowing that you will be protected if you need to find temporary housing elsewhere. Consider adding flood coverage to your policy so that you will be covered if a natural disaster causes damage.

If you have pets, add them to your liability coverage. Sometimes pets can cause accidental damage and potential liability issues if they interact with others. Liability coverage will protect you if your pet is having a bad day.

Will Wright Agency Inc. Will Help You Plan For The Future

Visit our website today to learn more information about renter’s insurance.

When do you need renters insurance in Alabama?

Those that are in the Decatur, AL area will have a variety of housing options to choose from. One great housing option to consider is to rent their home. If you are going to rent your home here, you should get a quality insurance policy. There are several situations when having renters insurance will be necessary. 

When Required by Landlord

One situation when you will need to get renters insurance is when your landlord requires it. When you move into your new Alabama rental home, there is a good chance that your landlord is going to have specific requirements when it comes to insurance coverage. If you do not have this coverage in place, you could violate your lease. Most of the time, the landlord will require that you prepay for a full year of insurance before the start of your lease term. 

When Needing to Protect Assets

Even if you are not required by a landlord to get renters insurance, you should still consider getting it due to the protections that it provides. A quality renters insurance policy will give you protection for all of your personal assets. This can include giving you coverage for your clothing, furniture, appliances, and electronics. If there is a fire or theft, you will receive coverage up to your policy limit. 

Choosing a renters insurance policy in the Decatur, AL area can be a big decision. When you are looking for a new policy, you should speak with the team at Will Wright Agency Inc. As you are looking for a new policy, Will Wright Agency Inc. can help you to guide your decision. They will be able to assess your personal risks and ensure you get into an appropriate policy. 

Why Do You Need Alabama Renters Insurance?

For anyone that lives in the Alabama or Tennessee area, a very exciting time will come when you move into your first home. For a lot of people, this means moving into a rental property. If you are going to move into a rental property, there are a lot of things that you need to get organized and figured out. One important thing to remember to do is to get a renters insurance policy. There are several reasons why you need renters insurance. 

Ensures Lease Compliance

One reason why someone needs to have renters insurance is that it ensures that you are in compliance with your lease. When you are renting an apartment or house, the landlord will likely require that you have renters insurance at all times. If you do not have this coverage, you will be in violation of your lease and could face penalization.

Gives Important Coverage

Another reason why you need to have renters insurance is that it will provide you with very lifesaving coverage. A renters insurance policy is going to provide you with coverage for your personal assets, which will not be covered under the landlord’s insurance. Additionally, you are going to receive liability insurance coverage. This type of coverage will ensure you have coverage in the event that you are found at fault in an accident that results in damages or injury. 

When you are looking for a renters insurance policy, it is important to work with someone that is experienced and that you can trust. The team at the Will Wright Agency Inc. in Decatur, AL can answer any questions that you have regarding all of your needs. The Will Wright Agency Inc.can also help to build a policy that properly protects you and your personal assets. Contact our office in Decatur, AL to speak with our team about your options.