Whether you rent an apartment in Vegas, a townhome in Henderson or a single family home in Carson City, you need renters insurance for the valuables and belongings you keep inside your rental. No matter where your Nevada apartment or rented home is located, it is at risk for severe weather and other hazards. Before you search for renters insurance quotes, however, there are several factors to consider.
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Nevada Rental Statistics
These are facts available from census data:
- The median monthly rent paid in NV is $944.
- Las Vegas has a slightly higher average monthly rent at $970, which is still lower than the average rent in many major cities in other states.
- With a vacancy rate still hovering at more than 10% since the housing crash, however, rent prices across NV may be decreasing soon to reflect the oversupply of rental units.
What Is Renters Insurance?
Renters insurance is a form of protection that can help reimburse you for losses, injuries and other damage that can take place in your apartment or rented home. Unlike homeowners, you are not responsible for carrying insurance on the building itself, which saves you considerably on premiums. Your landlord should have a policy that covers the structure, but you need to protect everything you keep inside. You also need renters insurance in the event a guest or delivery person sustains injuries while visiting your apartment or rented home.
What Does Renters Insurance Cover?
Though not all policies are alike, most Nevada insurance providers offer the following renters insurance options:
- Liability coverage: This can help pay for costs associated with guests or delivery persons experiencing injuries or property damage while visiting your apartment or home. This coverage can reimburse them for medical treatment, and it can help pay your legal fees should someone sue you as a result of an incident.
- Personal property coverage: This can help reimburse you for losses and damage to the belongings you keep inside your rental unit.
- Alternative living coverage: This optional form of coverage can help pay for temporary housing if your apartment or rented home should become uninhabitable for any reason.
Are Renters Insurance Quotes Reasonable?
Many renters do not realize how affordable renters insurance can be for the level of protection it provides. The premium quotes you will get from various Nevada insurance providers depend on several factors, including these:
- The amount of personal property insurance you need
- Where you live
Renters insurance tends to be slightly higher for apartments and units located in higher crime areas as these apartments and units are at higher risk for property crimes. The typical renters insurance premium is around $30 to $50 per month.
Where To Find Renters Insurance in Nevada
You don't want a severe weather event or break-in to rob you of all you hold dear in your Nevada rental, which is why carrying an insurance policy is so important. Knowledgeable, independent insurance agents in the Trusted Choice® network are always available to answer your questions, suggest coverage options best suited for your rental and even assist you in filing a claim.
Contact a Trusted Choice member agent near you to find out how you can obtain the perfect renters insurance policy based on your needs and budget.