What Does Renters Insurance In Kentucky Cover? Your Future
How does renters insurance in Kentucky cover your future? Is there some magic time machine that comes with your policy so you can go back and undo something negligent that caused a loss to occur?
No, it’s not quite that easy.
Remember the whole flap over Kim Davis? Where you stand on the issue is not relevant, the fact that there were people on both sides protesting and that those protests were, in at least some cases, poorly planned is relevant.
If you’re at a protest and someone trips over you, or you drop your sign on their head, or any of a million other little things happen and there’s bodily injury or property damage as a result of your activities, the person who suffered the loss is going to sue you. Now, you might think it’s worth getting sued over that particular issue because it’s very important to you, but that doesn’t change the fact that it will cost you a great deal of money to defend against the suit and it will also cost you a great deal of money to pay for the loss if your negligence is found to be the cause.
You could be paying for that bodily injury or property damage arising from your protest activities for the rest of your life! Remember that while your speech and actions are generally protected, that doesn’t give you indemnity if you hurt someone or damage their property in the process of your protected activities. Renters insurance in Kentucky, on the other hand, does.
Your policy could pay the defense costs for such a loss, to make sure that you are properly defended against the claim, as well as for the cost of the injuries. When a mere broken bone can cost tens of thousands of dollars, how long would it take you to pay off that judgement from your wages?
Renters insurance in Kentucky makes sure that you don’t have to pay for the hundreds of thousands of dollars in potential defense costs or the value of the loss. Renters insurance is so affordable that there’s no reason not to have it.
What Does Renters Insurance In Kentucky Cover? Your Past
Renters insurance in Kentucky covers your past. Again, there’s no time machine, but over the years you’ve spent thousands or tens of thousands of dollars on the things that inhabit your apartment. Your personal property represents a great deal of accumulated value. What’s more, it’s accumulated value is such that you couldn’t replace it today in a single shot if that became necessary.
If you have a fire – or if your neighbor has a fire that results in smoke damage to all of your property – renters insurance in Kentucky is there to help you. Generally the policy will pay the replacement cost, so you’ll have the money you need to go buy equivalent property new from the store.
Look around the room you’re in right now and think about what it would cost you to replace everything in it new from the store. That’s what you’d have to pay, but your policy can absorb that loss instead. If you have a family, think about the total cost of everything that you collectively own.
If you have kids, think about how much money you’ve spent on their stuff. If they’re young, cribs and other baby stuff can be expensive. If they’re older, electronics and all of the other things that teenagers need are very expensive. Writing a check to replace all of those things at once is not practical for most people. Honestly, many of the electronics that teenagers need are required for them to survive in school – online research is a requirement to do well in high school, and they need a way to get online in order to do that. Renters insurance helps to make sure they can stay on track.
Can My Landlord Require Renters Insurance In Kentucky?
Yes, renters insurance in Kentucky can be required by your landlord. As a matter of fact, it often is required. That’s because it benefits you. Some tenants are under the mistaken impression that their landlord is responsible for their personal property. That’s incorrect, of course. You’re responsible for your own stuff, and if another tenant has a loss that impacts you and your property, that’s still on you.
Kentucky Renters Insurance also makes sure that you have a place to go after there’s been a loss, with loss of use coverage. If there’s a covered loss and you can’t use the residence premises, the policy can cover your expenses to stay elsewhere. Since it can take a long time to find a new apartment or for repairs to be made to your old one, those expenses add up quicker than you think.
If someone is hurt in your apartment, or even on the premises, they’re going to look to both you and your landlord to have that injury paid for. Your landlord has a liability policy that would cover him – that’s part of the insurance he keeps on the building. But it wouldn’t defend you or pay your part of that claim. That’s why you need renters insurance in Kentucky, to make sure that you have the same quality of defense and the same availability of funds to pay that claim as he does.
How Much Does Renters Insurance In Kentucky Cost?
The national average price of renters insurance is just $187.00, according to the III. That works out to as little as fifteen dollars per month. The vast majority of families can budget renters insurance easily at those prices.
Additionally, it's important to note that renters are at a significantly higher risk of experiencing loss than homeowners. Renters occupy roughly one third of total housing stock in the country, and yet they are fully fifty percent more likely to experience theft than homeowners, according to the Bureau of Justice Statistics.
It only costs a few dollars a month to protect your family, and this cheap renters insurance is a great way to mitigate the additional risks that come with being a renter.
You’ll find that renters insurance in Kentucky is far more affordable than you think. The only way to find out what it will cost for you, at your location, and how much money you can save, is to get a quote. Fortunately, that’s easy because Effective Coverage has made it possible to get covered in just sixty seconds.
Effective Coverage offers the nation's only completely mobile platform to quote and purchase renters insurance right from your phone or tablet in just one minute. Get an online renters insurance quote today and protect your family.
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Photo Credit: Doug Kerr Cumberland Parkway - Kentucky CC BY SA 2.0