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    Have you thought about what you would do if you came home and your belongings were destroyed in a fire or stolen?  Don’t make the mistake and think your landlord has insurance for that.  They may have an insurance policy, but it will almost certainly not cover your things.  Their policy, often called a Landlord Policy, typically only covers the physical structure of the building.  Some landlords may even require that tenants purchase Renter’s Insurance.


    Have you ever wondered how much all of your personal belongings cost?  This is an important question when looking to purchase Renter’s Insurance.  If you take the time to inventory and add up the cost of your belongings you will likely find it is worth more than you originally thought.  Remember to consider things like clothes, furniture, kitchen utensils, linens, computer/laptop, etc.  Of course this is not a complete list and you should ask a licensed agent how these things would be covered in a Renter’s (HO4) policy.  Make sure to purchase enough coverage to replace all of your items.  Obviously, to avoid paying higher premiums do not purchase more than needed.  Also, since most Renter’s Policies will cover to replace your items at today’s cost (Replacement Cost), make sure that is how you value them.

    You should also want to protect your belongings from damage of Lightning, Wind or Hail, Vandalism, or Water Damage caused by freezing pipes.  A Renter’s Policy should cover these perils as well as provide liability protection.  What if a friend trips on a rug in your living room and sues you for $100,000?  Even if you feel you don’t have enough contents to insure, it is worth it for the liability coverage.  Renter’s Insurance can also provide medical limits and additional living expenses due to a covered claim. 


    From 2004 to 2012 the average Renter’s Insurance has hovered between $182 and $195 per year for the United States.  In the Myrtle Beach area Renter’s Insurance (HO4 Policy) starts around $15 per month.  Really, Renter’s Insurance is a bargain if you look at it in regards to how you’re paying in order to cover your personal belongings.  Among all renters in the United States, only 37 percent said they had Renter’s Insurance.  However, this proportion has been increasing since the first time the question was asked in 2011, when 29 percent of renter’s said that they had Renter’s Insurance.  If people see the real advantages of Renter’s Insurance and how affordable it can be, then more people may invest in this protection.  Think about your future and be prepared for the unexpected by reaching out to an agent at your local Davis & Massey Insurance Agency for a quick and easy Renter’s Insurance quote!

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