What Is Renters Insurance?
From Las Vegas to Reno, renters insurance is how you can protect yourself from all the risks that you encounter as a renter in the great state of Nevada. While Nevada is a safe place to live, things do happen from time to time. With the sheer volume of tenants in Nevada, it’s statistically likely that something will happen sooner or later. Some people say “An apartment fire will never happen to me, why do I need renters insurance?” They couldn’t be farther from the truth. If you look around the room and see three other people, chances are that an apartment fire will happen to one o f those three people or you in your lifetime!
Official Nevada Renters Insurance Guide
What do you know about renters insurance in Nevada? It might be less than you think! Work with the renters insurance experts to get your renters insurance in Nevada squared away.
Do I Need Renters Insurance?
While it’s not strictly mandated by law at this time, it is mandated in the majority of lease agreements in Nevada. Even if your lease agreement does not require that you carry renters insurance in Nevada, it’s still something everyone must have. Because of the broad liability protections as well as protections for personal property, it’s crucial for every person to maintain his own renters insurance policy.
My Apartment Says I Have To Have Renters Insurance. Is This Legal In Nevada?
Yes. It’s legal for your apartment to say that you have to have renters insurance. In the event that you negligently cause damage to the apartment, you are legally liable for that damage. Wear and tear isn’t the problem. Things like apartment fires in Nevada are the problem when it comes to your liability. If you don’t have renters insurance and the fire is significant, you are liable for tens or hundreds of thousands of dollars of damage. You could be sued by the property as well as by the property’s insurance company. The apartments will expect you to cover their deductible (starts at $25,000 generally, and goes up from there), and their insurance carrier will engage in a process called subrogation against you. This simply means that the commercial carrier will sue you to recover the money they paid out on the claim resulting from your negligence. Nevada renters insurance protects you from this risk.
My Apartment Won’t Reimburse Me For My Property After A Fire. What Do I Do?
Because your apartment won’t reimburse you for your property lost after a fire, what can you do? You can pull out your credit card. Your apartment company or landlord has exactly zero responsibility for your personal property. Even if your landlord caused the fire, generally there is still extremely limited liability for your personal property. This is at least partially due to the fact that there is no bailment, and therefore no cause of action for you to recover under. In short, your landlord leases space to you and is responsible to keep the apartment in good and habitable condition. His responsibility ends there. The contents of the apartment are not held by the landlord on your behalf .They are held by you for your own benefit. Therefore, the landlord has no responsibility for your personal property.
There is a solution, however. Nevada renters insurance not only covers liability as described above, but it also covers personal property. In Nevada, renters insurance runs about fifteen dollars a month. That generally covers at least $15,000 of your personal property and at least $100,000 of liability. Nevada renters insurance costs less than three days of the average cable subscription!
Why Can’t My Landlord Just Buy Renters Insurance For Me As An Amenity?
There are several reasons your landlord can’t supply you with renters insurance as part of the rent. First, there are a few questions on a Nevada renters insurance application which only you can answer. Second, the landlord has no insurable interest in your property. Because he neither owns nor has an interest in your property, he can’t insure it. Finally, we all have different needs for Nevada renters insurance. If everyone’s needs were the same for everything, we’d all be driving Yugos.
How Can I Get a Renters Insurance Quote?
Renters insurance quotes are available from Effective Coverage. Because Effective Coverage was built around the needs of renters, these quotes take into account your needs as a tenant and make sure you get the cheapest Nevada renters insurance possible while still covering your needs. Renters insurance can be complicated. It’s important to work with an agency that takes the time to understand your needs and help make sure there aren’t holes in your coverage. Effective Coverage brings decades of insurance industry experience to the table to get your Nevada renters insurance policy up and running quickly. You can call 800-892-4308 or click above to get an online renters insurance quote in Nevada.