Renters Insurance should be a Necessity!
Because you live on the Gulf Coast! Read this - $4 a month insurance from State Farm.
I just saw a very funny commercial from State Farm about renters insurance. They claim, bundled with your car insurance, that you can get renters insurance for as low as $4 a month!
Regardless of whether it's $4 or $24, renters insurance is a great investment, especially when you live in coastal areas. I believe in the power and value of renters insurance and suggest it to all of our renters.
Our company saw the destruction of Hurricane Ivan in 2004. The amount of tenants without renters insurance was disturbing and we had many families crying when their homes were destroyed and all of their valuable goods were lost.
Renters insurance will replace your items in case of a loss. Remember, a hurricane is not the only time we need renters insurance in Florida. Accidents happen often and can be unexpected. For example, we recently had a toilet supply line bust and flood a house! It also covers theft.
Of course, not everyone gets renters insurance and most of the time a renter is not required to secure renters insurance.
Here's a few tips to help you with securing renters insurance.
1. $4 a month will be a minimum amount of coverage, probably around $20,000 for your contents. Think about what it would cost to replace all the items in your household and discuss this with your insurance agent to adjust coverage as needed.
2. Ask your insurance agent if the policy covers flood! If not, you may have to get a separate flood policy.
3. Make sure your policy is secured 30 days prior to Hurricane Season as it's sometimes difficult to get renters insurance in our area during this time. There's usually a hold before the insurance is effective if you have lived in your current rental home for more than 30 days without renters insurance.
4. Make sure to have an inventory of items you own, and photos of those items if possible, in case a major disaster were to happen and you were unable to document your losses.
Call your local insurance agent or give our office a call at (850) 473 3983 or email Pam@PensacolaRealtyMasters.com if you would like a referral for some outstanding local insurance agents.
Until next time,
Realty Masters of FL
Over 60 rental homes and apartments
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