The housing crunch in North Dakota has many residents turning to renting their home, apartment or condo. Unfortunately, many tenants neglect to obtain renters insurance on their belongings. Many assume it is too expensive or that their landlord will cover any losses they experience, neither of which is true.
Before you search for renters insurance, however, there are several factors to consider.
According to census data and statistical analysis:
Many people choose to rent, rather than purchase, their home or condo because of the affordability, the convenient location, or to avoid the hassles of maintenance and other responsibilities of ownership. No matter your reasons, you still want to protect that which you do own. While most landlords carry insurance that covers the building itself, these policies do not extend to your personal property stored inside. A single fire, break-in or severe weather event can leave you homeless and without a stick of anything. Only a renters insurance policy can protect you when disaster strikes.
Most North Dakota insurance providers offer renters insurance policies with the following coverage options:
You will be able to choose between actual cash value reimbursement or replacement cost coverage for your personal belongings. The differences between the two can mean the difference between a swift recovery and a slower, more expensive process, so choose carefully.
The quotes you will find from North Dakota insurance providers will vary from company to company. The premiums you pay will also depend on the following factors:
If you own $40,000 worth of personal property, your quote will be higher than someone who only needs $20,000 worth of contents coverage. Also, if you live in a high-crime area of North Dakota, your quote will be higher than someone who lives in a safer neighborhood. You may find that a slightly higher quote is worth the added protection of a replacement cost coverage.
Typically, however, even the most comprehensive renters insurance policies are extremely affordable. Most North Dakota renters should be able to find renters insurance for fewer than $200 per year.
You work hard to fill your rented apartment or home with the things you enjoy. Protect that investment with a renters insurance policy.
Knowledgeable, independent insurance agents on the Trusted Choice network are always available to answer your questions, suggest coverage options, and even assist you in filing a claim. These agents have years of experience working with North Dakota insurance companies, enabling them to find you a number of quotes from a variety of providers, ensuring the quotes you see offer only the best coverage at the most affordable rates. Contact a Trusted Choice member agent near you to find out how you can obtain the perfect renters insurance policy that meets your needs and budget.