Covington Renters Insurance

Your Complete Guide to Covington, KY Renters Insurance

Find the right renters insurance policy for you.

Renters in Covington, KY can get affordable coverage for their personal property with a renters insurance policy. For less than a dollar a day, this insurance can offer you peace of mind, since you will know that your belongings are covered against risks such as theft, accidental fires, and severe weather events.

You can turn to a local independent insurance agent for answers to your insurance-related questions. These agents are able to work with a variety of insurers to present you with a selection of customized renters insurance quotes. That way, you can be sure you are getting your policy at a great price. Find an insurance agent in or near Covington to get started. 

What Is Renters Insurance?

The average market rent in Covington is $985 a month. This is slightly higher than the average monthly rent in the state of Kentucky, which is $927. Regardless of how much you are paying in rent, you can get affordable renters insurance to cover your property. Renters insurance is a specific type of policy that is designed to meet the unique coverage needs of those who do not own their home. It can cover your personal property as well as provide you with personal liability insurance coverage. Unlike car insurance, renters insurance is not required by law. However, some landlords in Covington do require their tenants to carry this insurance. A local independent insurance agent can help you find a great policy.

How Much Does Renters Insurance Cost in Covington, KY?

Renters insurance coverage is surprisingly affordable. In Covington, the average cost for a policy that provides $20,000 worth of property coverage and $100,000 worth of liability coverage with a $500 deductible is just $125 a year. That is less than $10.50 a month for the peace of mind of knowing that your property is covered. Your actual rates may vary according to how much coverage you wish to buy, details about the home you are renting, and factors like your claims history and credit score, but this average figure can give you a good idea of what you might be expected to pay.

Property Coverage for Covington, KY Renters

A major disaster like a fire or a windstorm can damage the building that you are living in. In this case, your landlord is responsible for making any necessary structural repairs. However, if your personal belongings are also damaged by these events, repairing or replacing them is your responsibility. Your renters insurance policy can cover these costs. 

The contents coverage included in your policy can pay for any personal property that is damaged by a covered event like a fire or a tornado. It can also reimburse you for losses resulting from burglary or vandalism. In Covington, where about 300 burglaries are reported every year, this can prove quite beneficial. However, it is important that you are aware that property damaged by floods is not covered by renters insurance. If your apartment is on the ground floor or you are otherwise at risk for flood damage, your local insurance agent can also help you get an affordable contents-only flood insurance policy through the National Flood Insurance Program (NFIP).

Renters Insurance Provides Liability Coverage

Most people never use the personal liability insurance included in their renters insurance policies, but if you find yourself in a situation where you need it, it can prove invaluable. It is designed to cover expenses such as court costs, legal fees, and damages if you are sued for a covered event. 

This personal liability insurance can cover you if are sued for causing injury or property damage to others. Examples include:

  • Your child breaks a neighbor’s window while playing ball.
  • Your dog bites a pizza delivery man.
  • You accidentally break someone’s wrist while playing football in the park.
  • You are accused of libel or slander after posting on your blog.

It is important to note that some insurance companies exclude damage caused by pets from their coverage. Therefore, if you are a pet owner, let your insurance agent know so you can be sure you are getting an appropriate policy.

Renters Insurance Can Cover Temporary Housing Expenses

If your rental home is seriously damaged, such as may happen if there is a fire in your building and your apartment is damaged by smoke and firefighting efforts, it may be deemed uninhabitable. In that case, you would have to seek alternative housing while your landlord makes repairs and gets the building up to code. In a case such as this, your landlord is not obligated to cover your temporary housing costs.

Spending several weeks as a resident of the Hotel Covington can add up to a hefty bill. Also, because you will probably have to eat all your meals at restaurants for the duration of your stay, the added cost of food can be a drain on your finances. Fortunately, if you have renters insurance, these costs can be covered until you are able to return to your home.

Why Work with an Independent Insurance Agent?

Having renters insurance is a great way to stay protected against financial losses caused by disasters. Independent insurance agents can help you compare customized quotes so you can choose the renters insurance policy that offers the best value for your money. At your request, your agent can also look into saving you money on your other policies such as car and life insurance

Contact an insurance agent in or near Covington to learn more.

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