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Renting a home or apartment has become a popular option for many people. Individuals who do not want the financial responsibility of home ownership may choose to rent. People often think they don’t need renters insurance because they choose to live minimally and have few possessions. However, they might not realize how expensive it would be to replace the items they do have. Renters insurance is a cost-effective way to protect yourself against costly losses if a hazard occurs. At Kriener Insurance in Woodbury, MN, we can help you get the insurance coverage you need while renting your living space.

Everyday Items Cost Thousands To Replace After A Loss

Fire, theft, or vandalism can be an upsetting event, but it can also be expensive. You may have designer clothing that would be a significant expense to replace. You may have high-end electronic equipment that you depend on for work or for your own personal use that would make a big dent in your savings to replace. Sports or gym equipment can be a significant expense to replace after a loss event. If you have jewelry, furs, or artwork, you would have a significant loss if you had to replace these items on your own. That’s why renters insurance makes so much sense. If an unexpected loss occurs, you are not left with the full cost of restoring your possessions.

What Does Renter Insurance Cover?

Many renters think their landlord’s insurance will cover their possessions if a loss occurs, but this is not the case. Renters insurance covers such items as clothing, shoes, furniture, electronics, appliances, home linens, hobby equipment, musical instruments, bicycles, and kitchen equipment. Your renter’s insurance policy also provides funds for alternative living costs while your apartment is being repaired and restored, which also helps to limit your costs when a loss occurs.

Renters Insurance Also Protects Your Finances

Renters insurance also provides liability coverage in case someone is hurt while on your property. Insurance coverage can protect you against expensive lawsuits resulting from a fall, a dog bite, or other accidents.

Make Kriener Insurance Your Agent For Renters Insurance

If you have questions about renters insurance coverage, you can rely on our experienced agents in Woodbury, MN to provide the answers you need to make the right decision. We offer many insurance products for our clientele, including auto, home, watercraft, health, and life. Contact Kriener Insurance today for a no-obligation quote on renters insurance that will help you avoid expensive replacement costs in case of a loss event.

Children do not always leave the nest as soon as they turn 18. As such, you may have your child living with you once they are legally an adult. One of the questions that we at Kriener Insurance, serving the greater Woodbury, MN area, are often asked is whether you need to add your children to a renters insurance policy you may have once they turn 18 or if they are still covered under your policy as they were when they were a child.

Do You Need to Add Your Children to a Renters Policy Once They Turn 18?

As a general rule of thumb, no, you do not need to add your children to a renters insurance policy once they turn 18. Most renters insurance policies cover the policy owner as well as any immediate family members living in the space, which would include adult children. 

Reasons You Should Consider Adding Them Even If You Do Not Have To  

While you may not be required to add your adult child to your renter’s insurance policy, either adding their name to your policy or having them get their own policy is recommended, especially if they have costly possessions, such as electronic devices, jewelry, artwork, or designer clothing. This helps to ensure that the policy limits on the policy cover both you and your adult child or children adequately. 

Give Us A Call

If you are looking to purchase a renters insurance policy in the greater Woodbury, MN area, Kriener Insurance would love to help you find the perfect policy to protect you and any young or adult children you may have living in your rental home with you. Reach out to us today to schedule an appointment to discuss your rental insurance needs.