You have choices when it comes to your Wisconsin Renters Insurance. We realize that, and we’re glad that you’ve taken a moment to review our Madison, WI Renters Insurance Guide. Effective Coverage is dedicated to educating renters about the availability of coverage to protect them, in line with our core values.
Only forty-four percent of American renters have renters insurance, but it’s not for lack of desire. Many people don’t know that renters insurance even exists, and many more think that it’s outrageously expensive. Over half of the uninsured households surveyed thought that renters insurance was over fifty dollars a month! Incidentally, it’s not nearly that expensive.
By working to educate renters on the availability of renters insurance in Madison, WI and throughout the country, we’re working to get 40 percent of the nation’s renters insured with the provider of their choice by the end of 2017 with the 2017 Renters Insurance Challenge.
Talk to one of our Madison, WI renters insurance experts today by calling the number below, or by accessing our self-service portal online!
Madison, WI Renters Insurance
How Much Is Renters Insurance In Madison, WI?
Not very much at all, actually. Renters insurance in Madison, WI tends to run about fifteen dollars a month. That’s right around the national average, and far less than the cost of dealing with a catastrophe without coverage!
You’d have to go nearly a century without a single personal property loss in order to not come out ahead! Also remember that one night in a hotel in Madison can easily cost more than the policy does for an entire year. If you have a covered loss that keeps you from using the apartment, loss of use coverage on your policy pays for that hotel. So even without factoring in any associated personal property loss, you’re still coming out ahead.
One of the great things about renters insurance is that the math always works out in favor of nearly everyone. It’s pretty obvious that renters insurance in Madison is a good idea.
What Should I Know About Madison, WI Renters Insurance?
One of the nice things about renters insurance is that it’s largely standardized across the country. This means that Madison renters insurance is going to look pretty similar to a policy anywhere else. The main difference is that depending on where you live, some type of coverage will be more relevant than others.
For instance, weight of ice and snow is a useful peril to have covered on renters insurance in Madison. For Miami, FL Renters Insurance, that might not be such a useful coverage. On the other hand, people with Honolulu Renters Insurance might find that volcanic eruption is a useful peril to have covered, but folks in Madison might not be as likely to need that particular risk to be covered.
Because the policies are pretty standard, you’ll find that the coverage is broad. You’re not just protecting against fire, theft, and vandalism, but against many other perils as well. This also means that when you travel, your property is still protected against the same things. So if you do vacation in Hawaii, you have that volcanic eruption coverage just in case.
Why Is It Hard To Find Renters Insurance In Madison?
It’s actually not hard to find Madison renters insurance. There’s a fairly competitive market for Wisconsin Renters Insurance. The good news is, you can shop around for the best deal. The bad news is that if you do that, you’ll be getting emails and phone calls until the end of time as a result of those quotes you did online while shopping.
The solution to that is to work with Effective Coverage. Because Effective Coverage has direct access to the underwriting teams, we know how and where to place your policy for the best combination of coverage and price. That gives you all the advantages of shopping around, without 50 obnoxious phone calls a day.
Working with Effective Coverage also saves you hassle at renewal, because we automatically confirm you’re getting the best package as part of that process. If there’s a way to save you substantial money, we’ll find it and reach out to you to make sure you’re able to take advantage of it.
If My Ex Trashes My Place While I’m At Work, Does Madison Renters Insurance Cover That?
Well, that depends on the exact circumstances, but generally speaking there are a few ways that Madison renters insurance could respond to a loss like that.
- Personal Property Coverage – Theft: If things are stolen as a result of the situation, theft is a covered peril. You can get the replacement cost for the items that were stolen so you can go buy new ones.
- Personal Property Coverage – Vandalism: Pretty self-explanatory. If you find derogatory remarks scratched into your new television set, that’s vandalism or malicious mischief and there could be coverage for that loss.
- Personal Property Coverage – Fire/Smoke: If part of the damage is because the person set your apartment on fire, there’s coverage for that, as well. But what if the apartments think you’re responsible to pay for the damage because you brought crazy onto the premises?
- Liability Coverage: This protects you if you cause bodily injury or property damage to another. That means that if you neglected to have the locks changed and the person used a key you had given them, you could be responsible for damage to the building and any injuries or damages that your neighbors sustain. Liability coverage on your renters insurance in Madison can shield you from this liability, as well as defend you against the claim or suit if one is brought.
Renting In Madison, WI
Lovely Madison, WI is the capital of the state. Nestled into Dane County, this small city of almost a quarter million people is the second largest city in the state, behind Milwaukee. Housing prices are higher here than in Milwaukee, averaging about $193,000. Rents average about $995 a month, making the rent vs. buy calculation somewhat difficult in some situations. But many people in Madison prefer the flexibility of renting as well as the fact that they’re not responsible for maintenance and other issues.
Madison is known for an educated work force, which attracts a number of different kinds of companies. Over 48 percent of the population above age 25 have a bachelors degree, and Madison is also the home of the highest percentage of Ph.D.s in the US. Even with the current state of the economy, Madison has fared well. The unemployment rate here hovers around 3.5 percent, well below the national average.
State government and the University of Wisconsin are the biggest employers in the city. Though the government has long been one of the biggest players in local employment, the area is moving towards a high tech employment base and also focusing on services. Health, biotechnology, and advertising are all up and coming sectors of the economy. The health and biotech fields additionally benefit from the University of Wisconsin’s extensive research work.
We know you’re proud to live in Madison, but don’t forget how important it is to protect yourself with Madison, WI renters insurance. Work with Effective Coverage for the best coverage, price, and relationship.