Renters Insurance in Scottsdale, AZ
Experts break down insurance costs, coverages, companies, and more for renters in Scottsdale, AZ.
Renters occupy more than 30% of all homes in Scottsdale, AZ. Whether you are a Mayo Clinic School of Medicine student in an off-campus apartment, an executive renting a downtown condo, or a newlywed leasing a house in Old Town, it is wise to carry renters insurance.
Local independent agents are available to help you find the right policy. These agents can work with several of the area’s best insurance providers to find you a suitable policy at a competitive price. Find an independent insurance agent near you to start comparing a selection of customized renters insurance quotes.
What Is Renters Insurance?
Renters insurance is a policy designed to cover your personal property and protect your finances if you rent the home in which you live.
Unlike homeowners insurance, renters insurance does not need to cover the structure of your home, so it is much more affordable. If the building you live in is damaged, your landlord will be responsible for covering the repairs.
Is Renters Insurance Required in Scottsdale, AZ?
There are instances where landlords require their tenants to carry renters insurance, but this is an exception rather than a rule. For the most part, renters insurance is optional, which may explain why more than 60% of tenants in the US do not carry this coverage. Some landlords may require you to have landlord insurance.
Even though it is not required, this insurance is worth considering. In addition to being surprisingly affordable, renters insurance provides a wide range of coverage that can insure your personal property and protect your financial interests.
How Much Does Renters Insurance Cost in Scottsdale, AZ?
In Scottsdale, where the average rent is $1,452 a month, it is understandable why people do not want to add to their housing costs by purchasing insurance that isn’t required. However, a good renters insurance policy is far more affordable than you might think.
The average price of a renters insurance policy in Arizona is just $178 a year. That is less than $15 a month. While costs will not vary too significantly among renters, your actual price for coverage will be based on factors like:
- The estimated value of your personal property
- The crime rate in your neighborhood
- The weather risks where your home is located
- The amount of liability coverage you want to purchase
- The size of your deductible
When you take the time to compare policies and quotes from a few competing insurance companies, you can save money by choosing the policy that offers the coverage you want at the lowest price.
Independent insurance agents make comparison shopping easy by contacting insurance providers and requesting customized quotes on your behalf.
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What Does Renters Insurance Cover in Scottsdale, AZ?
Renters insurance is designed to provide you with three types of coverage. These include:
- Contents insurance: This covers repair or replacement costs if your personal property is lost or damaged by a covered event. Covered hazards in Scottsdale typically include:
- Fire and smoke damage due to accidental fires or wildfires
- Water damage, unless it is related to a flood
- Burglary and vandalism
- Severe weather like thunderstorms, lightning, high winds, and monsoons, and less common hazards like tornadoes and hurricanes
- Loss of use insurance: This can cover many of your additional living expenses if damage from a covered event leaves your rented home uninhabitable, and you must seek other accommodations. Coverage can continue until your landlord has completed repairs and you can safely return home.
- Renters liability insurance: This covers expenses like legal fees, mediation costs, settlements, and judgments if you or someone in your household unintentionally cause someone else to suffer injuries, property damage, financial damages, or other harm.
When deciding how much contents coverage to buy, consider your belongings like clothing, furniture, jewelry, electronics, and kitchenware. You will want to be sure your coverage limits are high enough to enable you to fully replace everything you own if you experience a total loss in a disaster like a fire.
What Is Not Covered by Renters Insurance in Scottsdale, AZ?
As with any insurance policy, renters insurance has some limitations. Renters insurance does not cover:
- Loss or damage to your vehicle: If your rental includes a parking lot or garage and your car is damaged while parked in it, you get compensation from your car insurance provider, but only if your policy includes comprehensive coverage.
- Extermination costs: If your rental home is infested by bed bugs, rodents, or other pests, extermination costs are the responsibility of your landlord.
- Flood damage: Floods can pose a risk during the monsoon season. If the home you are renting is a house or a ground-floor unit, you may want to consider supplementing your renters insurance with a flood insurance policy. Affordable contents-only policies are available through the National Flood Insurance Program (NFIP).
- Earthquake damage: Scottsdale has a moderate risk of damaging seismic activity, but renters insurance does not cover earthquake damage. You have the option to purchase earthquake insurance, but these policies are expensive with very high deductibles and, in most cases, are not worth the cost to renters.
Independent agents live and work in your community, so they will be aware of the risks you face as a renter in Scottsdale and can ensure that you are familiar with all your options when it comes to filling coverage gaps
What Are the Best Renters Insurance Companies in Scottsdale, AZ?
The best renters insurance companies in Arizona are the ones that have a consistent track record of exceptional customer service, reliability, coverage, and affordability.
Independent insurance agents in Scottsdale have teamed up with some of the area’s most highly rated insurers. This lets you rest assured that any policies these agents recommend are written by trustworthy providers.
Why Shop for Renters Insurance with a Local Independent Agent in Scottsdale, AZ?
When you are looking for the best and most affordable renters insurance policy, independent agents in Scottsdale can help. These agents are available to answer your coverage-related questions and can help you compare policies and quotes from a few competing insurance companies.
Arrange an obligation-free consultation with an independent insurance agent near you to learn more.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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