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Being one of the most populated states in the country, Pennsylvania is home to millions of renters. Roughly half of all people living in the state rent an apartment, condo or are involved in some other type of rental agreement. The average rental goes for about $1,200 a month, which makes it a cost-effective alternative to taking out a mortgage and owning a house. Unfortunately, rentals are not protected by your landlord’s blanket insurance policy and your possessions can be at risk while you’re living there. This is where renters insurance comes into play and why its an absolute necessity for anyone living in Pennsylvania who is renting land.

Info on Renters Insurance

Renters insurance is almost identical to homeowners insurance because it is protecting your assets, however, it puts more of an emphasis on your belongings and items. For instance, homeowners insurance rarely covers gadgets, electronics and furniture, but your rental insurance policy will protect all of these things. It is not required by law to have renters insurance like it is when you have a home with a mortgage. However, even though it’s not a requirement, it should be considered a necessity because of the issues many renters face. For instance, your rental insurance policy will cover your apartment in the case of fire, weather damage and even theft. If someone other than you or your family gets hurt in your apartment, you’re totally covered and won’t be left paying expensive medical bills for that individual.

Your Policy Premium

Once you become a renter, one of the first things you should consider getting is renters insurance. There are thousands of companies available nationwide that offer rental coverage along with other types of policies. It’s rare to find a provider who offers just rental insurance, since you’ll often find this coverage with auto and homeowners insurance. The great thing about these types of companies is that they offer bundled plans. This means that you can save money by having car insurance and renters insurance with the same provider.

Your monthly premium will vary depending on the level of coverage you have. If your policy covers more and you have less of a deductible, you will be spending a lot each month just to have renters insurance. If you’d like to save money without necessarily forgoing insurance altogether, you can choose a basic plan that protects against fire and certain weather-related damages. You are responsible for paying your renters insurance every month and if you fail to pay, you can be dropped and be without coverage.

Working with Your Agent

Your insurance agent is responsible for helping you set up and maintain your policy. When you sign up for rental insurance in the state of Pennsylvania, the agent will come to your apartment, condo or rented room and take pictures of all of your belongings. These pictures will be used in the future if you ever need to file a claim. They can also help you set up a policy depending on your needs and the area of Pennsylvania you are living in. For instance, certain areas in Pennsylvania are more susceptible to theft than others and extra coverage may be needed if you are living in any of these crime-riddles cities.

Your agent will also come out to your rental if you file a claim. They will do a thorough assessment of the damages sustained and will use this information to determine eligibility and payout. Some insurance companies are totally internet-based, allowing you to file claims and talk with an agent without needing to be face-to-face.

Reasons to Get a Policy

The main reason to sign up for rental insurance in the first place is to protect your assets. Policies can cover everything from damages your apartment sustains to theft of furs, artwork and jewelry. No one likes to think about their rental being broken into or a fire ravishing where they live, but it’s better to be safe than sorry in these circumstances. You never know what will happen in the future and it’s worthwhile to prepare for the worst to know that you are fully covered if something ever does go wrong.