Renters Insurance in Kalispell, MT
Here’s Why You Need Renters Insurance
If there is a fire, theft, or vandalism at your rental home or condo, are you prepared to cover the damages? Despite popular belief, your landlord’s renters insurance does not cover your personal property. That means, if an event were to occur and your property was damaged, you would have to come out of pocket to replace your items.
The Insurance Information Institute conducted a poll that reported in 2012, only 31% of renters had renters insurance. As of 2016, that number has grown to 41% of renters having a plan in place. While that is still less than half, it is safe to say that consumers are beginning to understand the importance of this otherwise overlooked insurance policy.
Many people believe that they don’t have enough property to need a renters insurance policy; but if you do the math, that is far from true. That is why it is important to think about the monetary and sentimental value of your property. For example, what if you lost all the baby pictures of your children, or maybe a special item you received from a deceased family member or friend? Have you considered how much it would cost to replace your clothes? Or the food in your fridge? The average renter in a two-bedroom apartment has about $30,000 worth of property. Are you willing to pay out of pocket to cover the cost of loss and damage?
Beyond your personal property, renters insurance can cover personal liabiltiy related to bodily injury and personal property when a policyholder is at fault or negligent. This includes if your dog bites someones, if someone slips and falls in your residence, or if you have an intoxicated guest who gets in an accident and causes damage or dies.
As the renter, you can be seen as negligent if you fail to protect your guests from a foreseeable risk. For example, if you don't warn your guests that you have an animal that tends to bite, or if you spill something on the floor and don't tell anyone so they slip and fall. In these instances, you could be held at fault and liabile to cover the cost of their bodily damages and property.
Local agents working for you
At Flathead Insurance, we provide the proper renters insurance to affluent residents in a variety of rental properties including high value homes, condos, town homes, lake homes, or other single-family homes. We understand the potential risks that come along with renting a property and our team of dedicated agents are committed to helping you mitigate these risks to protect yourself, and your family.
As a local agency, we are accessible to our clients when they need us most. We make it a point to thoroughly access your needs to ensure there are no gaps in coverage. Call or contact us today to learn more about our renters insurance offerings. To get started on a policy, request a quote.