We appreciate you taking a few moments to review our Scottsdale, AZ renters insurance guide. Many people aren’t familiar with the benefits of Arizona Renters Insurance, the reasons for having it, or how important it is. That’s a major part of the reason why only forty-four percent of Arizona renters have coverage. In line with our core values, Effective Coverage works to educate renters about the need for coverage and about how inexpensive it is.
We’re on a mission to get 40% of Americans covered with the renters insurance provider of their choice by the end of 2018. In addition to this education campaign, we’re also working to make sure that all Americans have access to the best coverage to meet their needs, at the best prices. Many renters think that they have to take the renters insurance their apartments offer, or that they can only get it if it’s required by their property management. Nothing could be further from the truth.
Come along with Effective Coverage on our journey to the center of Scottsdale renters insurance, and learn how you can be protected and why you should be protected.
Scottsdale, AZ Renters Insurance
Many renters insurance perils are covered on your standard renters insurance policy, but let’s take a look at a few of the common and less common ones as an example.
- Volcanic Eruption: Hmm… Not really a risk on Scottsdale renters insurance, but if a volcano suddenly sprang from the ground and began spewing lava, there would be coverage for those damages. But since this is Arizona, and not Middle Earth, we suspect that’s a rather small risk.
- Fire and Smoke: These are listed as two distinct perils in the policy. Do you know why? It’s because you can have smoke damage even when a fire doesn’t directly cause damage in and of itself. Smoke can seep throughout an entire apartment building, damaging the things inside. So even if the fire is in the far end unit, and none of your property is burned, you can still have smoke damage. Regardless, both are covered perils.
- Aircraft: If someone in a light plane loses control over the plane and makes an uncontrolled landing on top of your apartment, the damage from that uncontrolled landing is covered. Your policy would probably subrogate against the pilot’s, but that’s mostly behind the scenes. The important part is, you have coverage for that event.
- Explosion: Why isn’t this covered under fire? An explosion doesn’t technically require flames in order to cause damage. The outward pressure is what does most of the damage in any kind of explosion, not the fire, even if fire is present.
- Windstorm or Hail: Both are somewhat rare in areas covered by Scottsdale renters insurance, but not impossible. Windstorm is a very broad word, and it can range from high winds with no real associated storm to a tornado. While the latter is not likely, if high winds take off your roof and you suffer property damage, that damaged personal property can be covered.
This is not a comprehensive list of the perils covered on renters insurance in Scottsdale. This is simply a sampling. See renters insurance perils insured against for more information.
On the other hand, if you prefer even more broad coverage, you can get what’s called “open perils” endorsed onto your policy. That means that personal property damage from a cause not excluded would be covered. The exclusions are minimal, and are things like intentional acts of the insured and industrial exhaust. This broader coverage often costs very little, and is well worth having on your renters insurance in Scottsdale.
Does It Matter What Company I Buy Renters Insurance In Scottsdale From?
It matters more than you know! First of all, consider the person selling you the policy. Do they know renters insurance inside and out, or are they just looking to sell a policy and move on to the next person? Just like any other type of insurance, it’s crucial that you work with an expert. At least weekly, we get a call from a client who would like us to help them insure their small business.
While we appreciate the faith placed in us, we refer those clients out to commercial brokers. Why? Because renters insurance and personal lines is what we do, what we know, and what we’re passionate about. We know they want the same level of dedication on their business policy, so we send them to someone who works commercial insurance day in and day out and is equally passionate about it.
Second, will the writing company be around? In the last year, for example, Texas shut down several small insurance carriers because they simply didn’t have sufficient reserves to pay claims if there were a major disaster. When you have a claim is not the time you want to find out that your insurance company isn’t solvent! That’s why we only write highly rated policies through writing companies that we know are going to be there for our clients.
Third, price is a function of company, to some degree. It’s also a function of many other factors, but different companies have different “appetites,” or types of business that they’re willing to write. Some carriers want nothing to do with a standalone Scottsdale renters insurance policy, but they’d write one in Arkansas without a second thought. It’s a form of risk management. Effective Coverage works to place you in the best policy, with the best writing company, at the best price, while meeting your needs.
How Much Does Scottsdale Renters Insurance Cost?
This is why you really came to this page. You wanted to find out how much renters insurance in Scottsdale, AZ costs. That’s an easy answer. About fifteen dollars a month, or $180.00 for the entire year. That’s in line with what renters insurance in the rest of the state costs as well. It’s usually less expensive if you pay for the year in full, as well. That can save you a few more dollars.
Fifteen bucks a month? You can’t go out and buy ice cream cones for the kids for that money. And the cost of not having Scottsdale renters insurance is far higher than the price you pay for the coverage. With $15,000 of personal property coverage and $100,000 of liability coverage, your total exposure would be $115,000 if you didn’t have the coverage. That’s over seven thousand months of fifteen dollar monthly payments! Almost anyone would rather pay fifteen dollars a month for the security than be hit with $115,000 in a judgment.
Can I Just “Take It Easy” And Avoid Getting Scottsdale Renters Insurance?
Nope. You’re thinking of “taking it easy” in Winslow, AZ. Personally, we wouldn’t be able to take it easy and relax without knowing we were covered if something should happen.
If I Have Scottsdale, AZ Renters Insurance, Am I Covered On Vacation?
Absolutely! What kind of coverage do you have on vacation? The same kind of coverage you have at home! If your personal property suffers a loss from a peril named in the policy, whether it’s at home or on vacation with you, coverage can still apply. If, on the other hand, you incur a liability claim while on vacation, you still have coverage. Even if your home incurs a liability claim because you left the bathtub running before going on vacation, you can still be covered.
Scottsdale renters insurance covers you, not just the location, so the coverage travels with you. For more information on that, see does my renters insurance cover me on vacation.
Renting In Scottsdale, AZ
Renting in Scottsdale is becoming more popular, especially now that renting in Chandler is set to become more difficult since there’s no more room for the city to expand outwards. Scottsdale is also a suburb of Phoenix. That means you’ve got competition for that apartment from people in Phoenix, as well as from people in other nearby suburbs. The median gross rent in Scottsdale is a little higher than some other suburbs, but not much, at only $1,129 a month.
The housing values, however, are much higher, at around $500,000, which makes renting here a great choice. One of the more popular forms of construction is the condo, and many are available for rent. This leads people to wonder, if I rented a condo, do I need condo insurance or renters insurance? The renters insurance experts have that answer, along with answers to all the rest of your questions about renters insurance in Scottsdale.
This rapidly growing city of 225,000 people site in the eastern part of Maricopa County, part of the Greater Phoenix area. It’s a popular place to live, and the New York Times has described it as a desert version of Miami’s South Beach, with plenty of late night partying and a buzzing hotel scene. This isn’t the Arizona you expected, Old West and retirees, Scottsdale is a young and fun town.
The median household income is $70,500, which has led to an increase in the price of homes for sale. It’s also led to an increase in disposable income. The latter is good for the economy, good for local businesses, and good for local residents. Tourism is, of course, a major driver of the economy, employing nearly 40% of the city’s workforce. Another major employer is the Mayo Clinic, which has a location in Scottsdale. That also leads to medical tourism from other regions of the country for whom Scottsdale is closer than Minnesota or Florida.
Scottsdale is a fun place to live, and still an easy place to rent. Once you’ve selected your new home, make sure you cover it with Scottsdale, AZ renters insurance from Effective Coverage!