Renters’ insurance offers peace of mind, coverage and protection from those worst-case scenarios life inevitably throws our way. If you need renters insurance, Philadelphia has relied on Insurance Shops for over 25 years. In this post, our experts discuss renters’ insurance––what it is, why you need it and how Insurance Shops can help you find a policy today!
What is Renters’ Insurance?
Depending on the type of renters’ insurance you have, it can protect you from the following:
- Personal property damages––if your belongings are damaged in a covered peril (an event mentioned in your policy such as fire, flooding or theft), your insurance company will cover the costs of these damages within the scope of your policy.
- Theft––if your rental space is broken into and your belongings are stolen, your insurance company can likewise cover the cost of stolen property within policy limits.
- Liability––this type of coverage protects you from lawsuits or liability in the event that someone is injured, or their property is damaged, in the space you rent.
Who Needs Renters’ Insurance?
Anyone renting and living in an apartment or house they do not own (including students living off-campus) would be wise to invest in renters’ insurance. While the state of Pennsylvania does not require tenants to have renters’ insurance by law, some landlords do make this a requirement before you can rent from them.
Roommates will want to ensure each person’s name appears on the policy, or each individual may want to purchase a separate policy. This type of insurance typically ranges between $15-$30 a month, and it can often be bundled with other policies, like your auto insurance, to help you save money.
Work with Insurance Shops!
We’ll help you navigate PENNIE––PA’s new insurance marketplace––to find and compare policies best suited to your needs and budget. Our services come at NO COST to you, and once we’ve found the right policy for you, our brokers will help you enroll and provide ongoing support with claims and mediation for the duration of your policy.
Insurance Shops has over 25 years of experience as a trusted resource for all your insurance needs. Fill out our contact form or call (215) 613-4999 for a free quote and get started!
