Common misconceptions about renters insurance

Renters insurance is one of the most forgotten coverages. Since most landlords and tenants do not realize how important this insurance is, there are many misconceptions about it. In this blog post, we will dispel several.

1. Tenants’ personal items are covered and protected by the landlord’s insurance policy 

Unfortunately, this is a very common misconception. The truth is that your landlord’s insurance covers only damages to the structure of the building. Do not expect it to cover the repair or replacement of your personal belongings.

2. You do not renters insurance if you do not own expensive items

You may think that you do not have any expensive stuff that needs to be covered by renters insurance. However, think about all your clothing, electronics, and furniture that you have. If something happens, you will have to replace it simultaneously. 

3. Renters insurance only covers personal possessions

It is also a very common myth. Not everyone knows that renters insurance also covers liability. What is liability coverage? This coverage protects tenants if they accidentally damage someone’s property and cause injuries to someone. 

4. If your roommate has renters insurance, you do not need one

If roommates are not listed on the policy, they are not covered by each other’s renters insurance. You are free to ask your roommate to include you in their policy, but if they can refuse. You may want to buy your insurance if they do not want to include you. 

Are you renting a house or apartment in Decatur, AL, or any other town in Alabama? Do you want to purchase renters insurance to ensure you are protected? Do not hesitate to contact Will Wright Agency Inc., a local insurance company serving clients in Decatur, AL, and surrounding areas. At Will Wright Agency Inc., we are ready to answer all your questions and provide the information you need. 

Four advantages you’ll enjoy with renters insurance

If you’ve never bought renters insurance before, you might not realize all the benefits that renters insurance can offer. At Will Wright Agency Inc., we provide renters in Decatur, AL with renters insurance coverage that benefits them in numerous ways.

The following are four significant advantages you’ll enjoy with renters insurance. 

Being a more attractive tenant to landlords

Landlords like knowing that their renters carry insurance coverage because renters with insurance coverage tend to be more financially secure. Some landlords even require tenants to carry renters insurance. 

Knowing you’ll have somewhere to stay if your rental unit becomes severely damaged

Renters’ insurance policies typically include temporary living expense coverage. With this type of coverage, you’ll get the costs of alternative lodgings covered if your rental unit is badly damaged and you are temporarily unable to stay in it. 

Enjoying more peace of mind as a renter

Renters insurance makes it less stressful to be a renter. You won’t need to worry so much about issues like lawsuits or damage to your personal belongings if you have renters insurance that protects you. 

Being covered for items that are lost due to burglaries

One of the most important types of coverage that renters insurance offers is coverage in the event of losses due to burglaries. You can be compensated for valuable belongings stolen in a burglary or damaged due to vandalism. This makes renters insurance an excellent idea if you live in a high-crime area. 

Enjoy these and many more advantages by getting renters insurance from us at Will Wright Agency Inc. Call us today for a quote on a renters insurance policy in Decatur, AL. 

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.