Does renters insurance work? If I buy Irvine Renters Insurance, will it work? Will it be there to protect me when there’s a loss? Or will I be buried in paperwork and exclusions and have trouble filing a claim?
Find out below our video renters insurance guide!
Does Renters Insurance Work?
Does renters insurance work? Yes! Renters insurance is a contract between you and the insurance company that you will do certain things, and in return they will do certain things. As long as you hold up your end of the bargain, renters insurance works.
You are expected to do things like:
- Pay your premiums on time
- If a loss happens, do what you can to prevent it from getting worse (mitigate the loss)
- Be able to describe and/or prove the specifics of the property that suffered the loss.
In return for those and other duties set out in the policy, the company agrees to pay you if certain types of losses occur in order to make you whole. Those aren’t just limited to your property. That could include things like:
- Damage to property of others
- Liability claims
- Defense against liability claims
- Loss of use and additional living expenses after a loss occurs
- Other losses which are detailed in the policy
Does renters insurance work? As long as you understand what’s covered and hold up your end of the bargain, renters insurance works well.
Does Renters Insurance Work? Someone Told Me Their Claim Was Denied!
When a claim is denied, rest assured that there is a good, valid, and defensible reason for the claim to have been denied. Insurance companies are not in the business of denying claims just to see if people re-file them, regardless of what Grisham might have you believe.
When a claim comes in, it’s assigned to an adjuster. That adjuster will check for a number of things to ensure that the claim is paid promptly and correctly. They’ll look for indications of what property suffered the loss, if applicable, as well as indications that the claimant is being truthful.
They’ll also review the policy to determine if coverage exists. You may find that policy forms vary a bit between companies, which means you’ll want to read yours in order to ensure that you know what’s covered and what’s not.
There are many reasons that a claim could be denied, but it’s rare for it to happen to a legitimate claim. Perhaps there wasn’t coverage for that specific type of loss. The loss could have been caused by an intentional act. A liability claim may not have an actual loss attached to it. A liability claim may fall outside the scope of the policy, in which case the insurer would likely send a reservation of rights letter telling you that any defense they provide does not guarantee that coverage will apply. There may have been fraud involved. Those reasons for denying a claim are perfectly legitimate, and all have to do with the type of loss and the policy language.
What's Your Insurance Language?
- Do You Need Renters Insurance ASAP? Check out the fastest way to buy renters insurance online and get covered in just 60 seconds!
- Do You Feel Like Talking About It? Just call Effective Coverage and a renters insurance expert can help you get great coverage in minutes.
- Do You Need Some Time Alone With Your Thoughts? We understand, which is why we created the California Guide To Renters Insurance.
- Just Want To Watch A Movie Together? See our Video California Renters Insurance Guide!
Does Renters Insurance Work, And Can I Afford It?
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.
Irvine Renters Insurance often trends right around the national average price. That means that you can afford it. Sure, the cost of living in Irvine is high, but it’s a small investment. You’re talking about something on the order of a couple cups of coffee a month, not about paying your car insurance premium a second time for the month.
It’s even cheaper if you pay for the year, because billing you costs money and that cost is often passed on. When you pay for the year, you also know the policy will stay in force. That gives you the ability to write one annual check and not worry about it until the next year comes around. You can even have it recur on the same credit or debit card each year if you like.
Renters insurance works, and it has saved millions of people a countless amount of money. You can even add earthquake coverage to your policy if you want, just in case. Your policy would pay for you to stay in a hotel after a covered loss. This is important not just because that’s expensive, but because it can allow you to wait out the repair process on your apartment so you can return to it instead of having to find a new place to live.
Your personal property is valuable, and renters insurance works to protect it. You have protection for theft of your property off premises, so even if something is stolen from your car there can be coverage. Your policy offers broad coverage, and there are many types of coverage you might not even know that you have!
Renters insurance works to give you peace of mind. You provide for your family, and you want to make sure that your family is protected. Renters insurance gives you that protection and helps you to sleep better at night. It’s affordable and easy. You can be covered in just sixty seconds! Just call (800)892-4308 or click to get covered - whether you need Irvine renters insurance quotes online or coverage anywhere else!
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.Photo Credit: Neil Kremer Irivne CC BY ND 2.0