The Importance of Renter’s Insurance

The Importance of Renter’s Insurance

July 7th, 2017 — Martinson Agency LLC — Chaska, MN

Clients often think they don’t need renters insurance — “Nothing I have is worth that much,” they’ll say, or “I don’t have a lot of stuff.”

That’s how most people think of renter’s coverage: protection for stuff, and nothing more. After all, it’s inexpensive and it doesn’t even cover the structure itself. So how important can it be, especially if you don’t think you have anything valuable to protect? You just have to stop thinking only about “stuff.” Here are three key financial protections a renters policy provides:

Personal Property Coverage:

Wait, doesn’t this mean your stuff? Well, yes. But really, this coverage protects your finances. Even if you don’t think you have anything valuable, take a minute and mentally add up everything you own (note that if you do have any high-value items, such as jewelry or heirlooms, you may need additional coverage). Now imagine how much it would cost to replace it all. It’s probably a higher number than you thought — and that’s why renters insurance is so important.

Personal Liability Protection:

If someone trips and injures themselves in your unit, they could sue you. If your dog bites one of your guests, they could file a law suit as well. Yes, lawsuits happen — even among friends. Renters insurance can help cover legal expenses and even judgments against you. (Some dog breeds may disqualify you from coverage, so be sure to inform your agent of all dogs in the household.)

Loss of Use Coverage:

What would you do if a fire or other issue forced you out of your home? You’d have to find a temporary place to stay, for weeks or even months in some cases — which might cost you more than your normal rent. Loss of use helps cover that and other additional expenses.

Call your local independent agent at the Martinson Agency in Chaska, MN today to compare current coverage options and get all of your questions answered!

Martinson Agency LLC – Chaska, MN

Phone: (952) 314-4400


The Value of Renters Insurance

The Value of Renters Insurance

May 7th, 2015 — Martinson Agency LLC — Chaska, MN

Many renters aren’t prepared for a loss and worse, haven’t even considered how valuable their belongings actually are. Renters insurance is extremely affordable, especially when you consider how much you have to lose. As with any insurance policy, renters insurance covers certain things and not others. So, what does renters insurance cover?

Renters insurance will cover damage caused by a disaster. This may include fire, smoke, wind, lightning, explosions, electrical surges, snowstorms and certain kinds of water damage. Take a second to think about everything you would need to replace in the event of a total loss. Your wardrobe, electronics and furniture are only a few of the many things that would need to be replaced.

Theft is also covered. A standard renters insurance policy will cover your possessions in the event of thievery. For example, if someone breaks into your apartment and steals your television, Xbox and DVD player, you will be covered. In certain circumstances, theft will be covered away from your residence as well. An example of this would be if you were grabbing a pizza at Detello’s in Chaska and someone broke into your car and got away with your sunglasses and your iPad. This is NOT covered by your auto policy but rather your renters insurance policy.

A renters insurance policy will provide you with liability coverage as well. For example, if someone gets injured at your residence you could be liable. Renters insurance will help to cover any medical expenses, as well as expenses resulting from any lawsuits, related to the injury.

These are only a few of the many scenarios that renters insurance will cover. Just because it isn’t required by law doesn’t mean you should overlook the value and protection of a renters insurance policy. If you are a renter, don’t leave your insurance to luck! Call Martinson Agency in Chaska, MN today and get you and your family the protection that you need.

Don’t leave your insurance to luck! Call today!

Phone: (952) 314-4400