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Renters Insurance: A Cost-Effective Way To Protect Your Possessions

Renters insurance is among the most important, yet underestimated piece of financial security available to renters. A 2014 survey by Nationwide found that 56 percent of renters between the ages of 23 to 25 don't have renter’s insurance policy. This is because they assume that their landowner will protect their possessions or that their stuff isn't worth enough to inure. Nobody is responsible for the loss of your belongings. Renters insurance is a highly cost effective, affordable investment to keep you and your possessions protected.

What does renters insurance cover?


1. Personal Property

Everything from your furniture to your jewelry will be protected under a comprehensive policy. Basic renters insurance will compensate for the loss of property if destroyed, damaged, lost, or stolen in the following events:
a) Fire and lightning
b) Windstorm and hail
c) Explosions
d) Riots
e) Damage by aircraft
f) Damage by vehicle (not your own)
g) Smoke damage
h) Vandalism
i) Theft
j) Volcanic eruption
k) Falling objects
l) Weight of snow, ice, sleet
m) Damage from steam-heating/water-heating appliances/systems
n) Leakage or overflow of water or steam
o) Freezing of plumbing, heating, air conditioning
p) Short-circuit damage caused by electrical appliances
Note that renters insurance also covers property that belongs to you but is not in your home, for example, your laptops.

2. Temporary Living Expenses

Renters insurance also covers temporary living expenses in cases where your place of living becomes inhabitable so you have to move to a hotel till the time the issues get resolved. At this time, all hotel expenses and food bills (if it exceeds from what you would pay for groceries) will be covered under insurance.

3. Food

In case the refrigerator breaks down and all the food inside goes bad, you can claim your groceries on your insurance policy. This is even valid if your fridge is still working but fails due to a power outage.

Renters insurance is the most inexpensive way to protect all your belongings and live peacefully. Before you buy one, make sure that you’ve made a detailed inventory of all your possessions. If you’re looking for more information on the best insurance in Jackson Heights, contact Linx Brokerage, INC. We have established ourselves as a leading agency in the community, recognized for understanding people’s needs, and providing outstanding personal service in the highly competitive insurance market since 2006.