Living in Louisville is a rewarding experience. With a diverse population and a smattering of restaurants and entertainment venues that reflect the city’s eclectic tastes, there is never a lack of something to do. Renting an apartment in the city is a great way to be in the midst of everything and can prove ideal for singles, young couples, and families alike. Your rental options are not limited to apartments. Large houses, condominiums, and townhomes are available to rent as well. No matter which housing option you choose, just be sure you have a Louisville, KY renters insurance policy.
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Most Expensive Rental Neighborhoods in Louisville
- Hikes Point
- Tyler Park
- Cherokee Triangle
- Central Business
Least Expensive Rental Neighborhoods in Louisville
- Bashford Manor
- Clifton Heights
- South Louisville
Louisville Renters Insurance Covers Your Personal Property
The main purpose of renters insurance is to provide coverage for your personal property. When you move into a rental unit, your landlord is responsible for covering damages to your home, but you are responsible for purchasing insurance to cover your belongings. If you suffer property loss due to a disaster such as a fire or a property crime such a burglary, you will need to have a renters insurance policy in place to get compensation for your losses.
Many renters forgo this important insurance because they feel that it may be too expensive or because they do not believe their property is valuable enough to justify it. However, in most cases, they are wrong. On average, you can expect to pay less than $20 a month for your renters insurance policy. Also, if you take an inventory of everything you own, you may be surprised by its value.
Louisville Renters Insurance Covers You against Liability
You may not realize that your renters insurance policy also includes coverage against liability claims. If you get sued for causing non-vehicle related injuries or property damage, your liability coverage will help cover your defense fees and court costs. Additionally, if you are found legally responsible, your insurance policy may help with the settlement costs.
The most important part of a liability policy is setting the right coverage limits. Ask your insurance agent if your renters insurance policy automatically comes with a set limit and, if so, if it is an appropriate amount of protection for your risks. Adding liability coverage is relatively inexpensive and well worth the cost in this litigious society. Today, you can be sued for a variety of situations. Some examples include:
- You are playing golf and accidentally hit someone in the head with your ball
- While skiing, you collide with another skier causing injuries
- Your dog bites your neighbor’s child
- You accidentally knock over a valuable sculpture at your co-worker’s home
Does Renters Insurance Cover Flood Damage?
No, flood damage is excluded from coverage by renters insurance policies. If you want coverage against floods, you must purchase a separate flood insurance policy through the NFIP. As a Louisville resident, this coverage is especially important given your close proximity to the Ohio River. Heavy rainfall can cause the river to rise beyond its banks. Low lying areas are most prone to significant damage, but flood damage can happen anywhere. Because you are a renter, you can save money on a flood insurance policy by purchasing coverage for your personal property only. Your landlord will be responsible for coverage flood damage to the structure of the rental property.
Compare Louisville Renters Insurance Quotes Today
When you are ready to purchase a renters insurance policy, contact an agent for assistance. Your agent can explain your coverage options, help you decide how much coverage to purchase and ensure that you are covered against all possible hazards. Our agents are independent of any particular insurance company so they are free to work with a variety of insurance providers to find you a quality policy at a highly competitive rate.
Contact an agent near you now and you can start comparing Louisville renters insurance quotes today.