M&R Insurance Agency

Renters

Your landlord cannot insure your personal property - computer, clothes, stereo, television, jewelry, furniture, bicycle, artwork and other items - against destruction or loss. Renters insurance does. Renters insurance covers the contents inside your apartment - personal articles, valuable items, plus liability coverage against losses like fire, smoke, lightning, vandalism, theft, explosion, windstorm and plumbing water damage. Your renters insurance policy will pay for your living expenses if an occurrence renders your home or apartment unfit to live in.

Some possessions - jewelry, firearms, silverware - are subject to a per category theft limit. Most renters' policies set a $1,500 total limit on Jewelry that is stolen, a $2,500 limit on firearms and a $2,500 limit on silverware or flatware. Other items - money, securities, personal records, watercraft and others - are subject to special limits of liability. If your valuables exceed these limits, you may want to consider purchasing a 'Floater,' which provides additional coverage for some of your items.

Renters should take a home inventory, noting the description and value of their belongings. A copy of this inventory should be stored in a safe place outside of the home, such as a safe-deposit box. The inventory will be a great assistance later if you need to file a claim.

If your apartment or home has a security system, smoke detectors or deadbolt locks, you may be eligible for discounts on your renters insurance. Call us today - we'll be happy to explain the many benefits and options renters insurance provides.

Contact M&R Insurance Agency at (516) 284-1020 or email us at mnr@mnrinsurance.com for a non-obligatory quote.