Do I really need renters insurance?

At Brew City Insurance it is our mission to offer customers a truly exceptional insurance buying experience. We provide our customers with the knowledge to choose the best possible insurance products that fulfill their wants and needs. Our friendly, knowledgeable and professional staff will help inspire, problem-solve, and best of all EDUCATE our customers so they can choose the coverage that best fits at a reasonable price.

The tragic gas explosion that left two dead and dozens of New Yorker’s homeless last month was a wake-up call for many renters: If you haven’t gotten renters insurance yet, it’s time to start shopping. There are about 1.3 Million fires each year and nearly $12 Billion in property losses.

Yet only 37% of renters in the U.S. are insured, according to the Insurance Information Institute.

“Many people who rent don’t think they need renters insurance because they either think that their landlord’s insurance takes care of their personal possessions, or they think they don’t have a lot of “stuff” so they don’t purchase coverage,” says Loretta Worters, vice president of the I.I.I.

Why every renter needs insurance ~

The landlords insurance ONLY covers the building ~ NOT THE RENTERS PROPERTY.

If your personal belongings were destroyed they would be replaced if you had renters insurance.

Renters insurance protects you from all kinds of disasters (fire, storm, theft, etc.). And what many people don’t know is that renters insurance even covers your belongings if they are damaged or stolen outside of your home. That means if your laptop is stolen out of your best friend’s apartment, you’ll be covered.

It also covers you for the kind of disasters you may never think of, like personal liability. Liability insurance covers you if a guest in your home hurts himself (for example, they trip on your rug, crack their head and need stitches) and they try to hit you up for medical expenses.

And lastly, most renters insurance policies will help you pay for temporary living expenses and food if you find yourself suddenly homeless after a fire or other disaster (yes, even a gas explosion).

How much it costs ~

The best part about renters insurance is how cheap it is. The average policy costs just 10 to 20 bucks per month. Most policies come with deductibles starting around a few hundred dollars.

What to do before you buy it ~

You don’t have to know how much your stuff is worth before you buy a policy, but it’s a good idea. Most people underestimate the value of their belongings. Take and add up the value of things like your TV, your sofa, jewelry, clothing and gadgets. It can easily add up to over $10,000, the typical minimum coverage offered by most insurance companies.

Other tips ~

When shopping for a policy, there is a big difference between policies that cover replacement cost or actual cash value.

Replacement Coverage means you receive cash to replace what you’ve lost.

Actual Cash Value (ACV) coverage means the insurer will give you the current market value of your items, which may not be enough to recoup all your losses.

Obviously, replacement policies are a little pricier but not by much. If you have really valuable items like jewelry, collectibles, guns, or art, you may need to buy additional insurance, called a “rider,” which will likely raise your rate slightly. An insurance agent can help you decide whether it’s necessary.

Where to get it ~

Make sure to shop around for policies at a few different insurers before you settle on one. An independent agent is always your bet bet when shopping for insurance. They will have access to several insurance companies who are all competing for your business.

Would you like to get great insurance, save money, and have a great agency???

Brew City Insurance is a great place to start.

Come in to Brew City Insurance for a no-obligation insurance review.

We will make sure you and all your family are safe all year long.

Brew City Insurance Agency Inc. is located at 2937 S Chicago Ave. in South Milwaukee between Pick N Save and Walgreens.

Stop in today and see what we can do for you! Or call 414-762-6600 and we can quote you right over the phone.

Visit our web page to find out more! http://www.brewcityinsurance.com