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724 Bielenberg Drive, Ste 5
Woodbury, MN 55125

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Minnesota Insurance Blog

A Brief Guide to Renters Insurance

Whether you are getting your first place of your own, or you are downsizing and need to rent for a little while, you want to ensure that you consider renters insurance in the midst of everything else you need to do. Some view renters insurance as unnecessary, but if there is an unexpected disaster that crops up, this type of insurance can save you from financial hardship. Kriener Insurance, serving Woodbury, MN, wants to share a few things you need to know about renters insurance.

How It Works

Renters insurance offers a bit of a safety net for you when you are living in a property you must pay monthly rent on. Renters insurance covers primarily structural damage, but it may also pay out for the damage or theft of some of your personal belongings.  

What It Covers

Basically, a renters’ insurance policy will offer coverage to repair/replace your belongings if they are damaged by a covered peril or stolen. As a general rule, renters insurance will pay to put you up in a temporary home in the event that a covered peril leaves your home inhabitable. This coverage also covers medical and legal expenses if an individual injures themselves on your property. 

Is It Required?

More often than not, renters insurance is not mandatory. However, a landlord has the right to require renter’s insurance from their tenants. Even if it is not required, you may want to consider purchasing a renters’ insurance policy. Your personal possessions, from clothes and furniture to appliances and electronics, hold a lot more value than you think. 

If you are renting and would like to obtain your own renters’ insurance policy or learn more about how you can benefit from this type of coverage in Woodbury, MN, contact Kriener Insurance.

How Renters’ Insurance Works

When you live in a rented home, you need to have renters’ insurance to protect yourself and your finances. If you don’t have one of these important policies in place, call us right away at Kriener Insurance in Woodbury, MN to talk to an agent. 

Your Possessions

When you rent a home, chances are that everything you own is inside it. That makes it vital that you have a renters’ insurance policy. This type of policy protects you by covering your belongings against being ruined or destroyed. If an accident, calamity or disaster results in your items being seriously damaged or completely destroyed, your renters’ policy would help you to get them replaced. This is valuable for every renter so that they never find themselves without anything after a serious incident. 

Covering Your Standard of Living

If you live in a rental, what happens to you if it is seriously damaged or destroyed? If you don’t have any insurance, chances are that you would be out of luck and have to try to come up with enough money to live elsewhere while the repairs were being made. However, with a renters’ policy, your policy will pay for you to move to a habitable address and to stay there until you can return to your rental. This allows you to keep a stand of living that is similar to what you had before the incident happened. 

Protecting Your Finances

If you were to have someone in your rental that had an accident and became injured, you would likely be liable for their medical bills. If you don’t have renters’ insurance, you are likely to be sued for those bills. However, with a renters’ policy, those bills get paid by the policy, and no lawsuit is required. 

Get Your Renters’ Policy

If you don’t have this policy in place, call us at Kriener Insurance in Woodbury, MN.

Renters Insurance Myths Exposed

Based in Woodbury, MN, Kriener Insurance assists the community by helping residents find the insurance coverage that they need. We understand that each of our clients has a unique situation, which is why we are committed to making sure that they find coverage specifically designed to help their case.

Renters Insurance

Renters insurance ensures that you will be protected if something happens to your property. The policy covers all of your belongings inside of the property. You can amend the policy so that any guest items stolen while located at your home are also covered. If your property is damaged and needs to be repaired, the policy will cover you while you are lodging somewhere else. The policy also includes liability coverage to protect you if someone gets injured while visiting your property.

Renters Insurance Myths

While you are researching different policies, beware of some common renters insurance myths.

I Don’t Need Insurance.

Many renters believe that they don’t have items that are classified as valuable, so they don’t need insurance. That is a mistake. All of your belongings hold some value. In the event that your electronics are stolen, renters insurance provides a safety net.

I’m Covered Through My Landlord

Your landlord’s policy covers the physical property but does not cover your personal items. Therefore, it’s vital that you have a renters insurance policy to make sure that your items are protected in the event of a natural disaster.

I’m Careful With My Stuff, So I Don’t Need It.

You never know when circumstances happen that you can’t prepare for. There could be an accidental flood or fire. It’s crucial that you have coverage so that your property will be protected regardless of any situation.

Consult With Kriener Insurance

For more information on rental insurance policies, please stop by our office in Woodbury, MN.

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