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  • What will my renter’s policy cover for my Shiloh, IL apartment?

    May 6, 2019 | Blog
  • Know your renter’s policy and protect your belongings

    There are many reasons why you may be interested in renter’s insurance. In some cases, landlords require proof of insurance before signing a lease. It may also be the case that you keep valuables in your apartment and are worried about the financial loss that would be incurred if something happened to them. Whatever your situation happens to be, renter’s insurance can be one of the best investments you ever make.

    What does renter’s insurance cover?

    renter's insurance policy in Shiloh Illinois

    A renter’s insurance policy will cover the apartment itself and your personal belongings, so long as something happens to the item within the premises. While damages to the apartment will generally be covered by the landlord’s insurance policy, a lack of a renter’s insurance policy will make it so that if your apartment home is robbed, vandalized, or otherwise destroyed, you may be unable to replace what you have lost.

    Some policies will offer liability protection, so if someone else’s property is damaged as a result of what happens in your apartment, you will be able to pay for the damages by making a claim to the policy.

    What won’t be covered?

    Shiloh Illinois renter's insurance coverage

    In general, renter’s insurance doesn’t cover you for things that are not mentioned in the policy. For example, if you buy something for your apartment after the policy is in effect but you don’t call to add it to the policy, you may not be reimbursed for the cost of purchase if it is lost, stolen, or damaged in a disaster. Certain natural disasters may be exempted from the policy as well, and renter’s insurance generally does not cover floods unless caused by mitigating factors, such as broken water pipes. Such exemptions will be clearly stated in the policy, however, and it is very important that you review before signing.

    Are you in the market for a rental policy in the Shiloh, IL area? Do you have any more questions about rental insurance policies and how they will benefit your situation? Klein, Merwin, Karrer & Associates can help you find the policy that fits your needs for a price you can afford. Contact us to schedule an appointment.