Most People In Urban Areas Of Washington Rent Their Homes!
With real estate prices positively out of control in parts of Seattle, more people than ever before are choosing to rent instead of buy. For many people, it’s a sound financial decision, regardless what stage of their lives they happen to be in. But what else is a sound financial decision for the people who rent their homes in The Evergreen State? Washington renters insurance protects your things, yourself, and your lifestyle.
Official Washington Renters Insurance Guide
Learn more about how to protect yourself and your family with Washington renters insurance from the experts in our short video guide.
Renters insurance is a sound financial decision because it costs so little and offers so many benefits to you. With an average policy, you’d have to live another century or so from the day you bought the Washington renters insurance policy in order to lose money on a claim. Buying renters insurance in Washington isn’t a gamble. It’s smart personal finance.
What Does Renters Insurance Cover?
Renters insurance has several main types of coverage. Let’s take a look at a few of them:
- Personal property coverage protects the things that matter to you against named perils like fire, theft, and vandalism. The most likely things to cause a personal property loss are all listed in the policy as covered. By having personal property coverage on renters insurance, you’re assured that you’ll be able to resume life quickly after a loss without having to replace everything you own over a period of years or decades. You can just get back to the business of living your life.
- Liability coverage provides coverage if you negligently cause bodily injury or property damage to another person or his property. This can range from bumping into someone on the street who then falls and twists his ankle to an accidental kitchen fire that burns down the entire building. Renters insurance liability protection has you covered.
- Medical payments to others is best described as no negligence liability. If someone is injured on your premises but there is no sign of negligence, your renters insurance medical payments to others coverage kicks in to take care of the minimal expense for which you’re responsible.
- Loss of use coverage is what pays for additional living expenses after a covered loss, such as a fire. This is what enables you to quickly get into a hotel room or other accommodations while awaiting cleanup or a new apartment.
What Does Renters Insurance Cost?
As you can see, there’s definitely quite a bit of value in renters insurance. The next question now that we’ve seen the value proposition is, “What does Washington renters insurance cost?” The answer is that renters insurance costs around $15.00 a month for most people. That’s basic coverage of $10,000 of personal property and $100,000 of liability. You can go up from there for not much money at all.