Personal Possessions

Insurance

Personal Possessions

What is

Personal Possessions

Insurance?

What Is Renter’s Insurance?

Renter’s insurance is property insurance that provides coverage for a policyholder’s belongings, liabilities, and possibly living expenses in case of a loss event. It’s available to persons renting or subletting a single family home, apartment, duplex, condo, studio, loft, or townhouse. The policy protects against losses to the tenant’s personal property within the rented property. In addition, a renter’s insurance policy protects against losses resulting from liability claims, such as injuries occurring on the premises that are not due to a structural problem with the property (in that case the owner’s—not renter’s—policy would apply).

Renter’s Insurance Explained

Increasingly, proof of renter’s insurance is required by many landlords. Personal belongings within a rented property are typically not covered under the owner’s or landlord’s property insurance. For example, if a flood or fire destroys all the personal property within a rented apartment, the structure would be covered under the landlord’s policy, but the personal property would only be covered through a renter’s insurance policy. Without this coverage, the tenant would be responsible for the loss out of pocket. In general, renter’s insurance offers three types of financial protection:

  • Coverage for personal possessions
  • Liability protection
  • Additional Living Expenses (ALE) protection

The following questions will help you choose the right coverage when you are shopping around for renter’s insurance or discussing your needs with an insurance professional.

Renter’s Insurance Coverage for Personal Possessions

Renter’s insurance covers your personal property from loss due to theft, fire, and other types of disastrous loss events. You should buy enough renter’s insurance to replace all of your personal possessions in the event of a loss event. The easiest way to determine this amount is to create a detailed list of all of your belongings with estimated values.

You can choose between replacement cost or actual cash value (ACV) coverage. ACV policies pay only for what an item was worth at the time it was damaged or destroyed. Replacement cost coverage costs more, but it will provide a payout large enough to buy a new item to replace the old one at the current full retail price.4 If there are abnormally high-value possessions, a renter may want to add a floater, which is a separate policy that provides additional coverage for costly valuables if they are lost or stolen.5

Renter’s insurance covers a policyholder against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and certain types of water damage.6 However, most renter’s insurance policies do not cover floods or earthquakes. Flood insurance is available from the National Flood Insurance Program and a few private insurers.7 Earthquake insurance can be bought separately or added as an endorsement to your renter’s policy, depending on where you live.8 For example, in California—obviously a high-risk state for earthquakes—the legislature created the nonprofit California Earthquake Authority to help people get affordable coverage.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

  • Uninsured motorist coverage (UM) is an add-on coverage for auto policies that will pay for injuries and damages caused by an uninsured driver.
  • Hit-and-run drivers are also considered uninsured motorists.
  • Uninsured motorist coverage usually adds only a small cost to an auto insurance policy but provides beneficial coverage.

Check Rates on...

Here are some of our impressive metrics.

20%

Avg. Savings Rate

$400/yr

Avg. Savings

80

Insurance Providers

Talk to a seasoned Insurance expert to learn more about what coverage you need.
We'll get you on the right path in no time!

Atlas One Service Features

Automatic Remarketing

Every 2 years we research your market to find you better rates for the same level of coverage. We do this for you absolutely free.

Digital Platform

We bring the power of an Insurance Broker to a digital format. Our digital platform makes it possible to find the best insurance coverage from the comfort of your own bed.

Concierge Service

We work with you to create the best possible experience. No matter what unique circumstances you find yourself in, we come along side to get you the coverage you need.

Coverage and availability varies by risk type, state and insurance carrier. Not all coverages are available as specified and there are many variances among carriers.

Website Developed by Moonlight N' Stuff