What do you know about Lafayette, LA renters insurance? Are you sure you know everything that your policy could cover? There’s more to renters insurance in Louisiana than meets the eye at a quick glance. Our guide endeavors to help you make sure you have the correct coverage, and that it will work for you when you need it the most.
50,000 Lafayette Residents Rent Their Homes In 2017! Are You One Of Them?
Lafayette is home to many things, including a surprising number of renters for a city of its size. Across America, only forty-four percent of Americans have renters insurance. That number is slightly lower in Louisiana, which leaves many renters at risk.
The fourth largest city in Louisiana saw several influxes of residents, mostly renters, over the latter half of the twentieth century. This was mostly related to oil and gas employment. One benefit is that those people and jobs have helped Lafayette to ensure that its economy is modern and diversified.
Whatever it is that you’re searching for, you can find it in Lafayette. University of Louisiana has a campus here, and there are several other higher education options as well. If you’re looking for an apartment, consider the location carefully. Zoning laws are not enforced outside the city, though some municipalities have created regulations.
- Why Do I Need Lafayette, LA Renters Insurance?
- What Are Named Perils On My Renters Insurance?
- Can I Afford Renters Insurance In Lafayette, LA?
- What Should I Know About Renting In Lafayette, LA?
- If I Have Friends Over And Someone Is Injured, Am I Protected?
- Is It Easy To Get Lafayette, LA Renters Insurance?
Why Do I Need Lafayette, LA Renters Insurance?
We realize that budgets are tighter in 2017 than they’ve ever been. But if you’re wondering whether you really need Lafayette, LA renters insurance, let us help you with that.
You need a policy.
Those people for whom budgets are tight are also the same people who would have fewest resources after a fire or other loss. Louisiana Renters Insurance offers more than just peace of mind. There are four main types of coverage that make up the policy, and they’re all important!
Personal Property Coverage replaces the things you own when they are stolen, lost in a fire, or suffer another covered type of loss. Generally this is at replacement cost, so you can buy new property to replace what was lost – even if you had the property for several years.
Liability Coverage pays for bodily injury and property damage losses caused by your negligence. Whether you’re carrying an armload of groceries and knock someone over or you’re responsible for an apartment fire, many people will look to you for money. The policy helps to make sure that money doesn’t come out of your own pocket. Lafayette, LA renters insurance will also cover the cost of defending you against those claims!
Loss of Use Coverage on your Louisiana Renters Insurance pays for the additional living expense that you incur after a covered loss such as a fire prevents you from using your home for a period of time. Can you afford several weeks in a hotel on your own?
Medical Payments to Others Coverage makes a payment to someone who is injured on your premises. There’s no liability and no fault associated with the payment. It’s a no fault coverage that solves many problems quickly and efficiently.
All of these various types of coverage work together to ensure that you’re protected against the vast majority of ills that could befall you and your property. Remember that a liability claim can take into account future assets and earnings as well, which can impact your future and that of your family!
What Are Named Perils On My Lafayette, LA Renters Insurance?
Named perils on your Louisiana Renters Insurance are the causes of loss that are covered by the policy. Your renters insurance protects you against losses which are specifically named in the policy. Fortunately, there are quite a few of them!
- Fire or Lightning
- Windstorm or Hail (Check your exclusions in some areas!)
- Riot or Civil Commotion
- Vehicles (Not Your Own)
- Vandalism or Malicious Mischief
- Volcanic Eruption
- Falling Objects
- Weight of Ice, Snow, or Sleet
- Accidental Discharge or Overflow of Water or Steam
- Sudden & Accidental Tearing Apart, Cracking, or Burning
- Sudden & Accidental Damage From Artificially Generated Electric Current
That’s a pretty exhaustive list. Your policy, with its definitions and exclusions, of course controls exactly what’s covered.
Can I Afford Lafayette, LA Renters Insurance?
Yes, you can afford renters insurance in Lafayette, LA! The national average cost is about $187.00 for the year, and often prices track in about this same range. But even if it costs more because of additional coverage or additional exposure, you can still afford it.
Fifteen or twenty dollars a month is a small price to pay for the level of coverage that you receive. Think about what would happen if your neighbor started a fire. Smoke damage is expensive to fix, and smoke damage often means you have fire damage.
How would you pay for a hotel until your apartment can be used again? How would you pay for new property to replace everything you own? Beds, couches, tables, chairs, clothing, kids toys, the list just goes on and on.
Worse, what would happen if someone lied and said you caused them property damage or bodily injury? Without renters insurance, you have to pay the tens of thousands of dollars for a lawyer to defend against that frivolous or false claim. Lafayette, LA renters insurance covers that cost along with the cost of the settlement or judgement if it comes to that.
While renters insurance isn’t free, it is quite affordable. The cost of going without renters insurance is far higher than the cost of having a policy. Even if you’ve been living a charmed life so far, that can’t last forever. Sooner or later, nearly everyone suffers a loss of some kind. Renters insurance can protect you and make sure that you can put your life back together quickly in that situation.
What Should I Know About Renting In Lafayette, LA?
There can be tough competition for rentals in Lafayette. It’s not quite as bad as many markets on the west coast, but the vacancy rate isn’t very high. One of the things to be aware of is that already having renters insurance makes you a better potential tenant in the eyes of a landlord. You simply appear to be a more responsible person that way.
Utilities are provided through a public-owned utility company. There isn’t much choice in the matter if you want electric, water, or sewer service. Fortunately, their rates are widely believed to be reasonable. There is also a city-wide fiber optic network offering internet service at reasonable speeds and reasonable prices.
While manufacturing is still a factor in the local economy, another sector that has grown rapidly is the IT sector. A number of national information technology businesses are headquartered here. Those companies have brought both new residents and new money into the city, which is good for everyone.
If you’re trying to get somewhere, I-10 and I-49 are the best ways to drive most anywhere. There’s also limited air service to a few major hubs from Lafayette, and you can get anywhere from hubs like Atlanta and DFW. There’s also passenger train service from Amtrak several days each week, as well as bus service.
If I Have Friends Over And Someone Gets Injured, Does Lafayette, LA Renters Insurance Cover That?
Yes! If you have friends over and someone is injured, you can look to your Lafayette, LA renters insurance to protect you. If the injury is minor and your friend just wants to feel like he’s been made whole, medical payments to others is useful.
That coverage would make a small payment to the injured person, with the understanding that the payment doesn’t admit liability. They’d get a little money, and they’d get to feel like someone “did something” about their injury. It helps to resolve bad blood over that sort of situation.
If the injury is more serious or there are questions of who is responsible for it, that’s where the liability coverage on your Lafayette, LA renters insurance comes into play. You report the claim to your insurance company. They look into it, and they begin to defend you against the claim.
From there, they may settle it, defend it at trial, or just pay it. That option is up to the insurance company. But whatever option they choose will take care of the problem and resolve it. They have extensive experience in choosing how to handle these claims, and an army of lawyers to advise them. Let them handle it.
As a matter of fact, that’s one of the benefits of Louisiana Renters Insurance. Having coverage means that someone else can take care of the problem. The company can defend it and settle it if necessary, and it’s up to them. It doesn’t have to keep you awake at night wondering how to deal with it.Back To Top
Is It Easy To Get Lafayette, LA Renters Insurance?
Yes! Effective Coverage has streamlined the underwriting process, which means you can get covered in just minutes. All you have to do is call Effective Coverage and speak with one of our friendly insurance experts for renters. We’ll ask you a few quick questions to help you determine what coverage you need, get you covered, and get you the documentation you need.
If necessary, we can even send a copy of the policy to your landlord. That means you have one less piece of paper to worry about on moving day, and the landlord feels good about renting to you when you move in. The whole process is fast and painless. It only takes a few minutes to get the coverage you deserve!
Just call (800)892-4308 to get covered right now!