What do you know about 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.

Renters insurance is likely cheaper than you think. The survey finds that 71% of Americans estimate that renters insurance costs more than $250 per year, with 22% of respondents believing coverage costs at least $1,000 per year. In reality, the National Association of Insurance Commissioners reports that in Wisconsin the average price is just $147 per year (about $12 a month!).

With the home ownership rate at its lowest level in about 20 years, more people should familiarize themselves with renters insurance, which still remains a mystery to many Americans. According to a new survey from InsuranceQuotes.com, six in 10 renters do not have renters insurance. Why? 45% say they lack coverage because they believe it’s too expensive, but 84% admit they don’t know how much it costs or hold misconceived beliefs about policy prices.

Millennials are the most likely of all age groups to say they don’t understand how renters insurance works, and they don’t know where to get insured. Furthermore, they incorrectly believe they don’t need renters insurance because they think that their landlord’s insurance will cover their personal belongings. This is not the case at all. “The landlord’s policy (only) will cover the structure, walls, and fixtures,” explains Chris Hackett, director of personal lines policy for the Property Casualty Insurers Association of America. So ~ if your neighbor starts a fire and smoke, fire, or water damages your apartment and belongings YOU ARE NOT COVERED! And even worse ~ where will you live until it is fixed?

A renters insurance policy provides coverage in three main areas: personal belongings, liability, and living expenses after a claim. A policy typically covers your personal items such as electronics, furniture, and clothes. Even if these items are stolen away from the rental home, they may still be covered. Liability coverage applies in an incident where a visitor to your rental home becomes injured. If you are sued, renters insurance can help with legal costs and medical bills. If you have to move out of your home due to a covered catastrophe, your renters insurance will also pay a certain amount for meals and a hotel or other living space.

Purchasing renters insurance is much like other types of insurance. Start with shopping with an independent insurance agency as prices vary. In most cases, you should consider a policy with replacement cost coverage, where the insurer covers the amount it would cost to buy a similar item today, without deducting for depreciation. Make sure you choose a deductible you can afford if you ever need to file a claim, and always read the fine print. If you live in an area prone to earthquakes or floods, you may want to get extra coverage for catastrophes, since a standard policy won’t cover you for those disasters.

Do you need renters insurance???

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 this holiday season.

Brew City Insurance Agency Inc. is located 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