The appeal of renting your home in Wyoming is being able to forgo worrying about burst pipes, mowing the lawn, or fixing the electrical wiring. But being a renter doesn’t absolve you from all of the things that can go wrong. You need renters insurance to protect yourself from accidents, theft, or damage that occurs in your rental unit.
Whether you live in a rural community or one of the state’s larger cities or towns, if you are among the many renters in Wyoming, you can benefit from purchasing an affordable renters insurance policy.
Local independent insurance agents can help you find the best renters insurance in Wyoming. These agents work for you, not for an insurance company, so they are free to shop around to find multiple renters insurance quotes in Wyoming.
What Should I Expect from Renters Insurance in Wyoming?
Renters occupy an estimated 26% of all homes in Wyoming. When you rent your home, you’re as susceptible to property damage as those who own their homes. Consider the top five causes of residential property damage in Wyoming:
- Water damage
- Severe storms and lightning
- Burglary and other property crimes
In fact, Wyoming has had 36 natural disaster declarations since 1953, and has about 2.64 burglaries per 1,000 people each year.
Thieves, fires, and severe weather events don’t discriminate. When you rent your home, you’ve got as much of a reason to protect your personal property as someone who owns their home does.
That’s where renters insurance comes in. Renters insurance is a type of personal insurance policy. It protects your personal belongings against damage or loss from things like fire or theft. It also protects you if someone is injured as a result of your negligence.
What Does Renters Insurance Cover in Wyoming?
Renters insurance is designed to reimburse you when your personal property is lost, damaged, or destroyed by certain unexpected events, such as fire and theft. It also covers you in certain cases when you’re sued for negligence. In general, here’s what’s covered by renters insurance in Wyoming:
- Personal property coverage: Covers repair or replacement costs if your personal belongings are lost or damaged due to a covered event such as:
- Theft (including personal items stolen from your car, but not the car itself)
- Windstorm and water damage (not floods)
- Personal liability coverage: Covers your financial obligations and legal costs if you accidentally cause injuries, property damage, or financial harm to others
- Loss of use coverage: Pays for your temporary living expenses if a covered event like a tornado causes severe damage to your home, and you must seek alternate accommodations while your landlord makes repairs
When you add up the estimated value of everything you own, including furniture, clothes, electronics, and jewelry, you may be surprised by the total value of your personal property. If you didn’t have renters insurance coverage, would you be able to afford to repair or replace it if you had a total loss? Even if you had a fire that was contained in your kitchen, could you afford to live elsewhere while repairs were made?
Looking at it that way, investing in renters insurance is a pretty simple choice. It can help you avoid financial devastation when you need it most.
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What Doesn't Renters Insurance Cover in Wyoming?
Like most other insurance policies, your renters insurance policy will exclude coverage for certain circumstances and types of claims. Some typical renters insurance exclusions are:
- Floods and earthquakes: Renters insurance won’t cover damage caused by flooding or earthquakes. But you can purchase separate flood insurance and earthquake insurance if you live in an area that is prone to these events.
- Auto theft: Your renters insurance may cover personal items stolen out of your car, but it won’t cover theft of the car itself. That would be covered by your auto insurance policy.
- Your roommate’s possessions: Your renters insurance policy covers your own stuff, not your roommates or anyone else’s stuff (unless it’s your spouse or your child) that’s in your apartment.
- Damage caused by pests: Renters insurance won’t cover damage caused by pests (rodents, bugs) or the cost of an exterminator.
- Building damage: Renters insurance is strictly for your personal possessions. It does not cover damage to the physical building that you live in. That would be covered by your landlord’s insurance.
It is important to be aware of what your policy does and does not cover so that you do not face any unfortunate surprises later.
Is Renters Insurance Required in Wyoming?
Renters insurance is not required in Wyoming. But that does not mean that you should overlook its importance if you’re a renter.
Renters insurance policies provide a wide range of coverage that can insure your property and protect your finances. It makes sense to purchase this affordable coverage to ensure that you don’t face a large financial loss if you experience a fire, a burglary, or some other type of event that damages your personal property.
How to Get Renters Insurance in Wyoming
The average cost of renters insurance in Wyoming is just $147 per year. That is less than $13 a month.
Of course, not everyone will pay the same for their renters insurance policy. Your rates may be higher or lower than average. But that’s why it’s best to shop around for policies from the best renters insurance companies in Wyoming.
Local independent insurance agents make comparison shopping easy. They can obtain quotes from multiple insurance companies, and ensure that you’re getting your policy at a competitive price.
Why Shop Renters Insurance with a Wyoming Independent Insurance Agent?
Instead of getting an online quote, find an independent insurance agent now, and get one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you a variety of options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Contact an agent today for a free, no-obligation consultation.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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