Are you a renter in Bowling Green? If so, you may want to be sure that your personal property, such as furniture, clothing, and cookware, is suitably covered by renters insurance. This inexpensive insurance has many benefits that may give you peace of mind the next time a tornado warning is issued or you hear about a wave of break-ins in your neighborhood.
Independent insurance agents can help you find the best renters insurance in Bowling Green. These local agents can present you with a selection of customized renters insurance quotes so you can be sure you are purchasing a policy that comes at a great price. Find an insurance agent near you to learn more.
How Much Does It Cost to Rent a Home in Bowling Green, KY?
The average market rent in Bowling Green is $1,015 per month. This is higher than the average rent in the state of Kentucky, which is $927 a month. Bowling Green is an attractive city for renters. In fact, an estimated 65.7% of all homes in this city are renter-occupied. Regardless of how much you are paying to rent your home, you can cover your property with an affordable renters insurance policy. A local independent insurance agent can help you find a great policy at a competitive price.
What Is Renters Insurance and Is It Required in Kentucky?
If you are renting your home, renters insurance can provide you coverage for your personal belongings as well as a significant amount of personal liability insurance. This insurance is designed to pay for the cost of replacing your personal property if it is damaged by hazards such as severe weather, structure fires, or property crimes. Although renters insurance is not required by law, some landlords do mandate that their tenants have a policy as one of the terms of their lease.
How Much Does Renters Insurance Cost in Bowling Green, KY?
The first time they shop for renters insurance, most people are surprised by just how affordable this coverage is. In Bowling Green, the average cost for a policy that provides $20,000 in property coverage and $100,000 in liability coverage with a $500 deductible is just $125 a year. That is less than $11 a month for the peace of mind of knowing that your property is covered. Of course, your actual rate may be a little higher or lower than this average amount, depending on how much coverage you wish to buy, how high you want your deductible to be, and details about the home you are renting, but this figure can give you a ballpark estimate.
Property Coverage for Bowling Green Renters
If a severe storm or a fire damages the building you live in, your landlord is only accountable for making structural repairs. Repairing or replacing your personal property is your responsibility. Fortunately, renters insurance is designed to provide this coverage. You can buy contents coverage in an amount that is sufficient to cover all of your personal property, from jewelry to housewares. Your local independent insurance agent can provide guidance when you are trying to determine how much coverage you need.
Your contents coverage can also provide reimbursement for losses due to burglary or vandalism. Approximately 400 burglaries take place in Bowling Green every year, so this coverage may come in handy. You will just need to submit a copy of the police report and a detailed list of your lost or damaged property to your insurance provider when you file a claim. Be aware that property damaged by floods is not covered by renters insurance. Fortunately, if you live in a ground-floor apartment or are otherwise at risk for flood damage, your insurance agent can also help you buy an affordable contents-only flood insurance policy.
Renters Insurance Provides Personal Liability Coverage
Most people never have to use the personal liability insurance included in their renters insurance policies, but it’s good to know that it is there if you ever need it. This insurance is designed to cover expenses such as court costs, attorney fees, and damages if you are sued for a covered event such as if:
- You accidentally break someone’s wrist during a game of tag football in the park.
- Your dog bites the mailman, who needs to get stitches.
- You post a negative review about a local restaurant online and the owners take issue with it and sue you for libel.
Keep in mind that some insurance companies will not provide coverage for damage caused by pets if you own a dangerous breed of dog, and some specifically exclude pet-related damage. If you are a pet owner, be sure to let your insurance agent know so that they can find you a suitable policy.
Renters Insurance Can Cover Temporary Housing Expenses
What would you do if a tornado or a fire left your rental home uninhabitable until repairs could be made? Did you know that your landlord is not obligated to cover your temporary living costs? Fortunately, renters insurance has you covered. Your renters insurance policy can cover the cost of a hotel and associated expenses such as meals, since you will be unable to cook at home, and mileage reimbursement if you are forced to live further away from your job. Your insurance agent can explain this coverage in greater detail.
Why Work with an Independent Insurance Agent in Bowling Green, KY?
Renters insurance is an inexpensive way to stay protected against financial losses caused by disasters. Independent insurance agents are available to help you compare customized quotes so you can choose the renters insurance policy that has the best value. Your agent may even be able to get you discounts on your car insurance if you bundle your coverage.
Find an insurance agent in or near Bowling Green to get started.
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