What You Might Not Know About Renters Insurance

Many renters overlook buying renters insurance because of they believe it to be an unneeded cost. However, here are five things to consider about renters insurance that you might not have been aware of before:

1. Landlord is not responsible: Your landlord is not responsible for the items that you have inside of your apartment. This is why many landlords require that their renters have renters insurance. With insurance, you're covered in the case of fire or theft. Without it, your losses must be paid out-of-pocket.
2. Not all policies are the same: You can personalize your insurance coverage to meet your needs. Coverage amount can be anywhere from $10,000 to $100,000. Some policies will replace lost items from a fire or theft and some will just give cash for the total cost of the items lost. Ask your agent about the details of your policy.
3. Affordable: Most of the time, renters insurance is avoided because people believe it will cost much more than what it's worth. However, the average amount for having renters insurance is about $15 to $30 per month. The cost will vary depending on location, as well as the type of property you live in.
4. It is worth it: You might think that all of your items are not worth covering. However, if your computer, your phone or all of your clothes are lost, think about how much you would have to spend to replace it all. Having renters insurance is definitely worth saving your money on replacing every single item in your possession.
5. Extra protection: Renters insurance can also provide liability coverage. This means if someone is hurt in your apartment, the medical and legal costs can be covered.

Renters insurance is definitely worth having. Call your agent to get started today!

Learn about your coverage options. Call Americo Direct Insurance at (214) 374-9997 for more information on Dallas renters insurance.

Reduce Stress by getting your Security Deposit Back

Renters are all too familiar with security deposits, costing anywhere from $300 to a full month’s rent in advance of moving in. In most cases, the deposit is half (if not fully) refundable, but your landlord can deduct from that amount to fix damages and/or replace property. Disagreements over deposit refunds are the number one source of tension between residents and landlords. So how can you relieve the tension and get your deposit when it’s time to move out?

When you moved in, your landlord probably asked you to fill out a checklist, noting any existing damages. Remember that? Keep your copy somewhere safe because it relinquishes you from the responsibility of paying for damages that were already there before you received your key. As an added layer of protection, you can take time-stamped pictures of existing damages to back up your notes.

Your landlord will conduct a final walk-through before you move out, checking for any damages that he or she can pin on you. But if you have documentation that those damages were there before you, then you can contest the claims and you’ll stand a higher chance of getting your full deposit refund back. Note that regular wear and tear is generally acceptable without a fine, but you may be responsible for a broken dishwasher or a cracked window.

Apart from damages, you can also be charged for theft, whether intentional or accidental. Many renters forget to turn in their key or garage door opener, which can reduce your refund if replacements must be purchased by your landlord. While these charges may be minimal, there will obviously be larger charges if you steal, for instance, a coffee table from a fully furnished apartment. Double check that you turn in property or leave it in your unit before completely moving out.

By documenting and turning in landlord property, you stand a very good chance of receiving your full refund upon moving out, which can help finance your next rental deposit or property purchase.

Our goal is to help save you money. Call Americo Direct Insurance at (214) 374-9997 for more information on Dallas renter’s insurance.