Many People In Maine Rent!
Did you know that, despite its largely rural character, many people in Maine are renters? There are far more apartments and rental homes than you might expect. Land ownership is valued in Maine, but the lifestyle and living within one’s means are more valued. From Bangor to Mount Desert Island, Maine renters insurance from Effective Coverage helps you protect what’s important to you.
People in Maine have different reasons for renting. Some are economic, some are for convenience, and some rent just because they prefer maintenance not being their problems. Regardless of why you have an apartment in Maine, it’s important to cover yourself with Maine renters insurance.
Can My Landlord Make Me Get Renters Insurance In Maine?
Sure. Your landlord can make you get Maine renters insurance. Your landlord can also cap the number of people who can live in your apartment, establish quiet hours, and other things necessary to ensuring the “quiet enjoyment” of the property by all tenants.
Why Does My Landlord Want Proof Of My Renters Insurance In Maine?
Your landlord proved to his satisfaction that you could pay the bills before you moved in. Your landlord also needs to prove to his satisfaction that you’ll be able to make good on damages caused through your negligence, such as from a kitchen fire. By having proof of coverage, the landlord may also receive discounted rates on his commercial insurance policy. Those discounts are generally passed on to you as lower (or at least less reduced) rent.
Why Does My Landlord Want To Be Listed On My Renters Insurance As An Additional Interest?
Your landlord wants to be listed as an additional interest on your Maine renters insurance because that enables him to be notified if the policy lapses for some reason. Sadly, there are people out there who will purchase a Maine renters insurance policy, show proof of coverage, and then cancel it the next day. Additional interest designation of your landlord prevents this sort of thing from happening. Additional interested parties on your Maine renters insurance are afforded no coverage and only notification. As a matter of fact, it’s better for the landlord to be additional interest rather than additional insured on your Maine renters insurance policy.
Why Do I Need Renters Insurance In Maine? Doesn’t My Landlord Have Insurance?
Yes, most landlords have insurance to cover their property and their liability. But since your landlord has no insurable interest in your property and your liability, he can’t and won’t cover it. Insurable interest just means that you have enough connection to or ownership of something that it can be insured. In this case, because the landlord doesn’t co-own your personal property, he obviously can’t insure it.
If there were to be a fire due to your negligence, after the landlord’s insurance company pays for the damages, who do you think the insurance is going to come after for that money? It’s called subrogation, and it means that the insurance carrier who paid out can sue the at-fault party for the full amount of what it paid as well as the deductible that your landlord paid. Maine renters insurance helps prevent this by giving you liability coverage that covers you personally. With Maine renters insurance, things like subrogation against you don’t have to be a reality of life.
I Don’t Own Anything To Insure. Why Are They Forcing Me To Buy Renters Insurance In Maine?
The vast majority of Americans greatly underestimate the value of their personal property. Think about your electronics, your furniture, and all the hand me down things you have. Calculate the costs of those items at retail value. Then double it to account for the things you forgot about. That starts to add up quickly. That’s why you need Maine renters insurance. It protects the things most people can’t afford to replace.
How Can I Get Maine Renters Insurance?
Maine renters insurance from Effective Coverage is cost-efficient and provides you with the coverage you need. As a company that has spent years studying the needs of renters, Effective Coverage gives you the right policy at a price you can afford. It’s easy to get Maine renters insurance with Effective Coverage. Just call (800)892-4308 or click above for your free and instant quote!