According the U.S. Census Bureau, 30% of Pennsylvania’s homes are rentals. If you rent your home, you may be one of the vast majority of American tenants who do not carry renters insurance. The structure of your apartment, duplex, condo, or house is insured by your landlord’s insurance policy. However, you are liable for any accidents you cause in your unit, and you are financially responsible for the items you keep inside. A Pennsylvania renters insurance policy can protect you from the financial fallout caused by a natural disaster, fire, burglary, or lawsuit.
If you have questions about renters insurance, or would like to look at your coverage options, an independent agent in the Trusted Choice® network can help. A local agent works with several insurance companies to find the coverage you need at a great price. Contact a member agent today to start comparing Pennsylvania renters insurance quotes that fit your budget.
Recover from Theft with Pennsylvania Renters Insurance
- More than 283,000 property crimes are committed in PA each year.
- One out of every 45 state residents will become the victim of a property crime.
- Over 57,000 burglaries occur in Pennsylvania annually.
- Renters are 50% more likely to be the victims of theft than homeowners.
Pennsylvania is home to many towns and cities with very low crime rates, but no neighborhood is crime-proof. A renters insurance policy ensures that you will be reimbursed for your valuables if they are stolen or vandalized, up to the coverage limits you set.
Who Needs Pennsylvania Renters Insurance?
If you cannot afford to pay for a lawsuit or to replace your electronics, furniture, clothing, and other property out of pocket after a disaster, you may need renters insurance. Renters coverage can benefit:
- College students
- Apartment residents
- Rental house tenants
- Condo renters
- Senior community residents
Many tenants believe they are covered by the landlord’s insurance policy, but the landlord’s coverage only affects the structure, fixtures, and appliances owned by the landlord. If your home is destroyed by water damage, tornado, fire, or other catastrophe, you bear the financial burden of replacing everything you own and finding temporary housing while you wait for repairs. Also, if you accidentally cause bodily injury or property damage to a guest or neighbor, your landlord’s liability coverage cannot protect you from financial loss in a lawsuit.
Renters insurance provides coverage that can help you find a place to stay while your apartment is repaired. It can also reimburse you for part or all of the cost of your damaged furniture, appliances, clothing, and tools. A local agent can help you estimate the value of your possessions and the level of liability coverage you need, so that you can find the right renters policy for you.
What Does Pennsylvania Renters Insurance Cover?
A member agent can help you find the following types of tenant coverage:
- Home contents coverage: This insurance pays for replacement or repair of the property you keep in your home, and sometimes the property in your car or luggage as well. If you keep a running list of your possessions and their value, you can make sure you are always covered for the right amount.
- Renters liability: This coverage protects you from the financial disaster of a lawsuit against you if you are at fault for an accident in your home. This covers medical expenses, any damages awarded in your settlement, and your legal defense, up to the limits of your policy.
- Relocation: This coverage type pays for temporary housing if your home must be repaired due to a safety hazard, fire, or storm damage.
- Umbrella coverage: This is extra liability insurance that kicks in when you reach the limits of your renters liability coverage. It also covers liability for accidents outside your home.
You may need all or a few of these types of coverage. A local agent can look at your unique circumstances with you to help you decide what kind of renters insurance is right for you. These agents can also combine your renters insurance with other policies you may need, such as car insurance or business insurance, to save you money.
How Much Does Pennsylvania Renters Insurance Cost?
Renters coverage is usually much more affordable than homeowners insurance because the building and grounds are already insured. The average cost of a tenant policy in Pennsylvania is $144 per year. That works out to around $12 per month to insure your belongings. The average renter keeps property valued around $20,000 in the home, so in the case of a total loss, a small investment in a renters insurance policy can pay off quickly.
These numbers are only averages. The price of your policy will depend on a number of factors, including:
- The value of your property
- The crime rates in your neighborhood
- Safety and security features in your building
- Your personal risk factors
An independent agent can gather quotes from several Pennsylvania renters insurance carriers, to find one that meets your needs and fits your budget.
Find Pennsylvania Renters Insurance the Easy Way
You could shop company to company to find the renters insurance you need, or you could contact a local agent in the Trusted Choice network. These agents work for you, not an insurance provider, to find coverage tailored to your lifestyle at rates you can afford.
Member agents advocate for you if you need to make a claim, and can also bundle your renters insurance with other coverage, such as car insurance, to get discounts. Contact a member agent today, to get Pennsylvania renters insurance quotes just right for your budget.