amarillo insurance3

Homeowner’s insurance is always a hot topic, especially during the times of year that bring stormy and destructive weather. Of course, not everyone in the US is a homeowner. In fact, more and more Americans are renting for a wide variety of reasons, not the least of which is the housing bubble that began in 2007 and lasted almost a decade.

Believe it or not, renting is now a new sort of normal throughout much of the country. Many people are extremely nervous at the prospect of buying a home so soon after the real estate market collapsed. Instead, millions of Americans are playing it safe by continuing to rent far longer than they might have before the mortgage bubble.

In addition to fear, younger Americans who would have typically been ready to buy a home in the past have put off getting married and/or having children. Because they are waiting later to start families, this particular group of young adults see no real benefit from buying a home that is simply too big for one person.

This, naturally, is fantastic news for landlords everywhere. As cities all across the United States are bursting with prospective tenants, those who have invested in rental properties are more than happy to oblige this current trend.

As the number of renters continues to grow, it’s important that renters have a firm understanding of how to protect the assets they do own. Although you may not own your own home, your personal property is important to you and can be worth a substantial amount of money. If your apartment or rental house is broken into and many of your things are stolen, you’ll be forced to replace everything on your own dime unless you have a renters insurance policy.

If you’ve considered skipping on the concept of renters insurance – you’re not alone. Far too many renters forego purchasing ample protection, leaving them financially vulnerable. RentersĀ  insurance can provide you with peace of mind. Knowing that your personal possessions are safe in the event of an unforeseen disaster is priceless.

Renters insurance coverage (dependent on the specific details of your policy) can protect you in the following situations:

  • Burglary
  • Vandalism
  • Theft
  • Fire
  • Flooding
  • Storm damage
  • Power surges
  • Negligence

Renters insurance coverage typically covers for the damages that may be caused by you (the renter) through neglect such as leaving a candle burning while you’re at work. If a fire occurs, your policy will help you pay for the damage to the apartment itself, along with damage to your personal effects.

Another really beneficial thing about renters insurance is that it will help you pay for displacement costs if your apartment or building becomes too damaged to remain living in while repairs are made. Your hotel room and other living expenses will be provided via your insurance company such as we have here in Amarillo Texas.

If you’re a renter in the Amarillo area, talk to Ivy Insurance about your rental insurance coverage needs. We are your Amarillo insurance team; and we will find the perfect renters policy for you!