Mississippi Renters Insurance

Do You Need Mississippi Renters Insurance?

The Gulf Coast, the Mississippi River and SEC football are just a few things that make Mississippi a great place to rent a home. Maybe you are just starting a job in Jackson and making sure you like the area before you settle down, or you are enjoying a long-term beach rental on the Gulf. Regardless of where or why you rent your home, it is important to protect your valuables and personal property with Mississippi renters insurance.

To get the right policy, you need the help of an independent Trusted Choice® member agent who can help you compare Mississippi renters insurance quotes from several different insurance companies. Find a local member agent today to review your options and get the right coverage for your needs at an affordable price.

Mississippi Renter Statistics

  • Total housing units: 1,281,711
  • Total rental housing units: 376,823
  • Total percentage of housing units that are rentals: 29.4%

Do You Need MS Renters Insurance?

Many renters ask this question or assume their landlord's insurance covers them. It does not. The building owner's policy only covers the building, grounds and property of the owner. Your landlord's policy, for example, will cover outside areas, external doors and windows, and all public and community areas such as walkways, parking areas and your complex's laundry room. It will also cover the owner's appliances and furnishings that come with your leased property.

As the tenant, you are responsible for protecting your own personal possessions in the home or apartment, such as furniture, computers, video or music systems, jewelry and valuables.

When looking for Mississippi renters insurance, consider all of your belongings that would be at risk in the event of a burglary or building fire. Also consider your risk of liability if someone should fall or become sick or injured in your rental unit and you were held liable.

What Does Mississippi Renters Insurance Cover?

Your Mississippi renters insurance will provide coverage for a range of risks. For example, your policy can protect you in the following ways:

  • Theft: Your policy covers theft of your belongings, whether they are stolen from your leased home, your car, or your luggage while traveling.
  • Catastrophe: It protects your personal possessions from catastrophic events like an apartment fire or tropical storm damage.
  • Water damage: It will cover your belongings if a neighboring tenant is responsible for an overflowing sink, or a water pipe breaks and causes water damage in your rental unit.
  • Liability: The liability portion of your policy covers you if a third party files a liability claim or lawsuit against you. This portion of your policy will cover your legal defense, whether or not you are found to be responsible, and will cover the costs of judgments against you. This coverage includes bodily injury claims that result from accidents in your home as well as damage to others' property and claims of libel or slander.

Note that without this protection, you will be left paying these costs out of pocket in the event of an incident.

Is Renters Insurance Required?

While renters insurance is not mandated by the state of Mississippi, your landlord or rental agency may require it. There are two primary reasons for this:

  • If you are responsible for a fire, water damage or other incident that damages the landlord's property, your insurance policy will cover that damage, rather than the landlord needing to file a claim.
  • If you live in a multi-unit property, any damage you cause can quickly extend to other units in the complex. For example, a fire can easily spread beyond your unit, or an overflowing sink can cause water damage to units or personal property below your apartment.

How Much Does MS Renters Insurance Cost?

Many tenants choose to carry a renters insurance policy, as it is relatively inexpensive. The cost of your renters insurance policy depends on your coverage, the value of your possessions and whether you choose actual value or replacement value coverage.

An actual value policy reimburses you for the present value of the item replaced. For example, if your 5-year-old laptop was stolen, it would be valued at its used cost.

By contrast, a replacement value policy pays you what it costs to replace the item. So in this example, you would receive enough money to buy a brand new laptop. Of course, replacement value coverage costs more, since replacing a used item with a new item costs more.

Get Mississippi Renters Insurance Quotes Now

To find the exact cost of renters insurance to cover your personal property, you will need to look at actual Mississippi renters insurance quotes. First, take an assessment of what you own by going through your house or apartment and making a list of your belongings and valuables. This includes appliances, furniture, jewelry, video/gaming/music systems, sports equipment, firearms and even clothes, shoes and dishes.

Then contact an independent Trusted Choice member agent and get quotes on Mississippi renters insurance. Your local agent can help you compare rates from several different renters insurance companies and help you find the one that's right for you.

Now, who's ready to get their insurance problems solved?