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Being an Elkhorn, NE renter has its advantages…
Renting has its benefits, like no property taxes, not having to mow the lawn, and not needing to shovel snow.
But imagine coming home from work or a trip to find everything you own has been destroyed in a fire. What if a thief broke in and stole your valuable items?
You might think the insurance of the building owner would cover all the damage from a fire.
But it doesn’t.
The building owner only needs to have insurance that covers the structure. This means they’re responsible for everything outside “your walls,” but you need to take care of everything inside.
Therefore, all your belongings like furniture, electronics, clothes, and jewelry won’t be covered unless you get renters insurance for your Elkhorn unit.
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Personal Property
Risk Factor
Unpredictable losses can occur to your property due to burglary, fire, water damage, storm, and more.
Solution
Personal property, such as furniture, rugs, TVs, stereos, clothes, and more may be covered under your basic insurance policy. However, items like jewelry, furs, silverware, antiques, collectibles, and other valuables should likely be insured separately.
Limits and Exclusions
Risk Factor
Some types of personal property are subject to limits of coverage under renters insurance policies. These limits vary by the type of property and by what caused the loss or damage. For example, jewelry, bicycles, collectible cards, and coins may have limited coverage or may not be covered.
Solution
Obtain a personal floater or schedule your valuable possessions to ensure you’ll have the money to replace them.
Additional Living Expense
Risk Factor
If the building you live in has a loss from a covered peril under your renters insurance policy that makes your apartment or home uninhabitable, you will need to find somewhere else to live while the repairs are undertaken. This can be expensive and inconvenient.
Solution
Be sure your insurance policy includes additional living expense coverage. If you need to move out and rent another location, this coverage provides for the increase in living expenses–such as moving costs, increased food costs, and other expenses.
Liability
Risk Factor
You are responsible if you or a guest in your unit trips and falls or sustains an injury while on your property.
Solution
Be sure that you have adequate liability insurance to protect for claims made against you for bodily injury or property damage – such as a slip and fall or other allegation. Liability coverage also provides protection should you become legally liable for unintentional bodily injury or property damage anywhere in the world.
Medical Expenses
Risk Factor
You're responsible if a guest is injured while on your property and you may be required to pay their medical expenses.
Solution
Ensure your insurance policy covers this risk. In the event a person is injured in your unit, he or she can submit medical bills to your insurance company. Medical expenses are usually paid without a liability claim being filed against you, with typical limits ranging from $1,000 to $5,000.
Landlord
Risk Factor
You may not be able to rent the apartment or home if your landlord or property manager requires renters insurance and you do not have it.
Solution
Having a renters insurance policy allows you to provide a certificate of insurance to the landlord or property manager showing that you have the coverage required to rent the apartment or home.
Improvements or Betterments
Risk Factor
Any improvements or betterments that you have made to your unit are subject to damage.
Solution
Be sure to obtain coverage for improvements or betterments that you have installed in your apartment or home.
Contents Away from Home
Risk Factor
You may take your valuable property outside of your unit. For example, what happens if your laptop or golf clubs get damaged or stolen while traveling?
Solution
Be sure to add off premises theft coverage to your policy to cover your personal property while your belongings are away from your home. Auto insurance does not usually cover personal property stolen from your car.
Premises Liability
Risk Factor
You may be responsible for damage to your apartment or dwelling should you, for example, have a leaking sink or accidentally start a fire.
Solution
Be sure your policy has liability coverage that includes tenants legal liability or premises liability. Your landlord may require that you to have this type of insurance protection in place as a requirement before renting the property to you.
The Cost Of Replacing Your Stuff
You might think your belongings aren’t worth much, but replacing items like a bedroom set, clothes, or a computer could cost much more than their current value. It’s not just about how much money your stuff is worth now; consider the expense of buying these things new, which can be significantly higher.
In Elkhorn, personal liability and property insurance is surprisingly affordable. This type of insurance covers more than just your possessions; it also protects you from being liable if someone gets injured in your home. If you end up being sued and the judgment is against you, this policy will cover the costs up to the policy limits.
Do you need renters insurance in Elkhorn?
Nearly two-thirds of 81 million renters don’t insure their belongings or liability. That’s about 54 million people at risk!
Calculate the cost to replace all your possessions. It could be more than you think.
Next, review the terms of your lease. Your landlord in Elkhorn may require a renters policy to protect both of you in case of damage or incidents.
Finally, get a renters insurance quote from our Elkhorn team and see how affordable it is to secure your items against theft, vandalism, fire, and more. Protecting your belongings is easier and cheaper than you might expect!
What else is covered?
Renters insurance can protect nearly all of your personal possessions. Personal liability insurance policies from our Elkhorn agency offer coverage for electronics, small appliances, sports equipment, cameras, furniture, clothing, glassware, and books. With extended protection options available, you can also cover valuable items such as computers, jewelry, furs, watercraft, and firearms under the same policy. Your renter’s insurance policy may include:
- Personal property protection
- Family liability protection
- Guest medical protection
- Additional living expenses
- Additional protection
- Temporary housing
- Liability protection for people on your property
We urge all renters to spend just five minutes calculating the cost of replacing everything they own. Imagine coming home tomorrow to find your apartment burned down. Where would you stay? How would you replace your clothes, furniture, and appliances? When you think about what renters insurance from our Elkhorn agency covers, you can confidently say it covers all those things and more, providing peace of mind.
Why We’re Different
Most insurance products might seem the same in cost and function, but different providers offer unique ways to create a policy that fits your specific needs.
It’s important to remember that there isn’t a universal personal liability and property insurance policy that fits everyone’s personal belongings.
At Eric Luebbe Insurance, our approach is tailored and proactive. Our skilled team works to understand what you uniquely need and crafts a personal liability and property insurance policy just for you and your Elkhorn rental.
Our agency is dedicated to foreseeing potential issues and delivering solutions that ensure your possessions are safe. Reach out to us today to learn more about our renters insurance in Elkhorn, so we can help safeguard what’s most important to you.
Let’s Get Started
Elkhorn Renters Insurance Quote Request
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