Owensboro Renters Insurance

Your Complete Guide to Owensboro, KY Renters Insurance

Find the right renters insurance policy for you.

While the average monthly rent in Kentucky is $927, in Owensboro it is just $869. From Bon Harbor Cove to Hillcrest, Owenboro’s many neighborhoods offer ideal housing options for everyone. Regardless of where you are living or how much you are paying in rent, you can find an inexpensive renters insurance policy to cover your property. 

Talk to a local independent insurance agent for answers to all of your insurance-related questions. These agents can gather customized renters insurance quotes from a variety of reliable insurers. That way, you can choose the policy that offers the coverage you want at the most affordable price. Contact an insurance agent in or near Owensboro to get started. 

Is Renters Insurance Mandatory in Owensboro, KY?

Unlike auto insurance, renters insurance is not required by law. However, some landlords in Owensboro do require their tenants to have this coverage. Whether or not you must carry this insurance as a term of your lease, many financial experts strongly recommend that you buy it. Renters insurance can cover your personal property as well as provide you with personal liability insurance coverage – all for well under a dollar a day.

How Much Does Renters Insurance Cost in Owensboro?

You may be surprised by just how affordable renters insurance is. In Owensboro, 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 only $126 a year. That is less than $11 a month to cover your property and protect your finances. Your actual rate will be based on factors such as how much coverage you wish to buy, details about the home you are renting, and sometimes even your claims history and credit score. But with rates this low, the variance will be negligible, so this average figure can give you a very good idea of what you might be expected to pay.

Renters Insurance Provides Property Coverage for Owensboro, KY Renters

Your landlord is responsible for making structural repairs to the building you live in if severe weather, heavy winds, structural defects, or a fire results in damage to the property. However, if your personal belongings are also damaged by these events, repairing or replacing this property is your responsibility. The good news is, your renters insurance has you covered. 

The contents coverage included in your renters insurance policy is designed to pay for property damage caused by a covered event.  It can also reimburse you for losses due to property crimes like theft and vandalism. In Owensboro, where the burglary rate is nearly double the national rate, this coverage could prove especially important. Be aware that renters insurance does not cover flood damage. If you live in a ground floor unit or your home is otherwise at risk for flooding, your local insurance agent can help you supplement your coverage with an affordable contents-only flood insurance policy through the National Flood Insurance Program (NFIP).

Owensboro Renters Can Get Personal Liability Coverage

What if you had a cooking mishap that started a fire in your apartment building?  What if you got sued after your dog got loose and bit some joggers? 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, this coverage can prove invaluable. Renters liability insurance is designed to pay your legal fees and damages if you are sued for third-party injuries or property damage, or if you are accused of libel or slander.

Your insurance can cover your own actions as well as those of your children and pets. However, some insurance companies specifically exclude damage and injuries caused by pets—dangerous-breed dogs in particular. Therefore, if you are a pet owner, it is important to let your insurance agent know so you can be sure you are getting a policy that includes this coverage.

Renters Insurance Can Cover Temporary Housing Expenses

If your rental home is severely damaged by an event like a fire or a windstorm, the property may be deemed uninhabitable until repairs are made. You would, therefore, need to find alternative housing while your landlord gets the building back up to code. If this happens, your landlord is not obligated to cover your temporary housing costs. Spending a couple of weeks living in a hotel can be prohibitively expensive. Also, because you will probably have to eat all your meals at restaurants, the added cost of food can be a drain on your finances. The good news is that your renters insurance can assist you with these costs until you are able to return home.

Why Work with an Independent Insurance Agent?

Renters insurance protects you against many of the risks you could potentially face as a renter in Owensboro. Of course, nobody wants to pay more for their policy than they need to. Independent insurance agents can help you compare customized renters insurance quotes so you can select the policy that comes at the best price. 

Find an independent insurance agent in or near Owensboro to learn more about renters insurance.

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