You have a lot of things that are important to you – from your clothes and furniture to your entertainment system, sports gear, and computer. And you want to feel confident that everything you’ve worked hard to accumulate is not at risk.
Let Bill White Insurance help you find renters insurance in Springfield MO with coverage options that protect you, your family, and your personal property. Let’s make sure you’re properly covered.
Your renters insurance policy covers your personal property against theft and other damage, subject to the limits and deductibles you select. Renters insurance protects your personal property virtually anywhere it’s located with few limitations.
The “what you’re covered for” part, or the actual “perils” you’re insured against, typically comes with a couple of coverage choices.
Broad Form Coverage – lists specific “perils” you are insured against. A grocery list of the most common causes of loss like fire, lightning, windstorm, theft and so on. If the peril isn’t on the list, you don’t have coverage. Broad form is the most widely written coverage for personal property.
Special Form Coverage – works in reverse and says you’re covered for “all risks” of direct physical loss, subject to a list of common exclusions. Again, a grocery list of common exclusions like earthquake, flood, nuclear hazard, war and so on. Unless the peril is specifically excluded, you’ve got coverage. Special form coverage is a little more expensive since it’s open to unforeseen perils.
Loss Settlement can work a couple of ways as well. While actual cash value (ACV) policies still exist, most policies offer replacement cost settlement, which ensures that you will be paid the full replacement cost of items that are damaged or stolen, without any deduction for depreciation.
Also know that whatever coverage option and loss settlement option you select, there may be special limitations on certain categories of personal property like jewelry, coins, guns, furs and silverware to name a few. Policy limitations are for “loss by theft” specifically for these items, and you may need to arrange a special schedule of insurance for some items.
The property insurance side of a renters insurance policy covers your personal property. Think of it like this…if you were to take the home or apartment that you rent, turn it upside down and shake it, everything that falls out is considered your personal property. Then, tally up the total cost to replace everything that just fell out, and you have the answer to how much replacement cost coverage you should purchase. Chances are it’s more than you realize.
The liability insurance side of your renters policy protects you and your family against bodily injury and property damage claims for which you may be liable. Legal defense is also provided in the event you are sued after a covered loss, subject to the limits you have selected.
In addition, you can select various limits of medical payments coverage, which will pay for medical expenses incurred by a visitor who is injured at your residence, regardless of who’s at fault.
It’s becoming more and more common to see a request from the landlord or manager of your apartment complex, to recognize their interest, in the form of a “renters notification” document to prove you have liability coverage as a condition of the rental agreement.
Whether you’re starting out, between homes, or downsizing, we'll help you pick the Missouri renters insurance coverage that best fits your needs.
Renters insurance in Springfield, Nixa, Ozark and southwest Missouri area is not expensive. Policies may start as low as $10 to $15 a month, or about the cost of adding HBO to your cable subscription. Think about that for a minute….if a tornado rips through your apartment complex, which would you rather have…unlimited HBO or renters insurance?