Should You Get an Apartment or Single-Family Home?

Choosing Between Apartments and Single-Family Homes for Rent in Ft. Wayne, IN

For those residing in communities around the Ft. Wayne, IN area, the options for domicile are aplenty. You can choose from apartments or single-family homes. To make a choice, let’s walk through the differences and see what suits you best.

Privacy

A significant difference between apartments and single-family homes lies in the amount of privacy they offer. An apartment, living spaces, and parking lots are shared spaces between families. On the other hand, single-family homes provide more room both within the house and yard. However, it’s important to note that a single-family home may cost you more in rent.

Location

If proximity to the city center matters to you, an apartment might be the right choice. Available in various sizes, apartments are typically found in or near city limits, ensuring a short commute. Single-family homes can also be found within cities, but they are also located in the suburbs or rural areas, which might entail longer commute times.

Maintenance

A single-family home usually comes with maintenance responsibilities such as yard upkeep. Depending on your leasing agreement, this could either be an additional expense or included in your rent. However, having this space adds to your level of privacy.

Apartments, conversely, require minimal maintenance from the tenant, as the landlord or a maintenance team handles most tasks. Any shared green spaces may require additional fees to use at certain times.

Regardless of the property type you choose, remember to secure renters insurance. Wise Insurance Agency is at your service to help you find a policy that protects you and your family. Contact us today before you rent your next property.

Keeping Your Pet Secure When Guests Come Over

As a renter in an apartment or single-family home, you can still be held liable if you have guests over and they get hurt. One of the most common incidents that renters face is pets biting guests and forcing them to cover damage and medical expenses out of pocket. The best way to have your pet and keep yourself away from these liable situations is to make sure your pet is secure when guests come over. Wise Insurance Agency, serving the greater Ft. Wayne, IN area, is here to assist with all your insurance needs and related tips. 

Keeping Your Pet Secure

Crate Your Pet

Some pets get overly excited when they have guests over, and this excitement could cause them to become anxious and overstimulated. One of the best ways to prevent this is to crate your pet when your guest arrives. It is best to have the crate in another room so that they are not constantly watching guests walk back and forth and some noise is suppressed. 

Secure Them in a Room

If you have a room in your apartment or home that you plan to close off to guests, you can gate your pet inside the room so they stay in this area. Gates usually work better than closing the door off. Dogs who become anxious may start scratching the door and cause damage. You will be liable for this as a renter by the landlord or homeowner. 

Keep Them On a Lead Outdoors

If you are planning to entertain yourself outside and need to bring your dog out for a walk, they must stay on a leash so that they do not run, jump, and startle guests. Even if you are entertaining indoors, walk them on a lead through the house to get outside and back to the secured area to avoid any accidents. 

Have Questions? Consult With Us

If you are renting around the Ft. Wayne, IN area, contact our agents at Wise Insurance Agency today for a personal quote. 

How Much Renters Insurance Do You Need?

Renting a house is far more convenient than renting an apartment. In general, you’ll have more room, fewer neighbors, and the freedom to entertain family and friends. However, renting a residence does not allow you to avoid renters insurance. Renters insurance does not cover the property owner, but it does cover you and your things. At Wise Insurance Agency we are proud to help citizens in Ft. Wayne, IN with all of their renter’s insurance needs. 

How Much Renters Insurance Do I Need?

Simply put, it depends on the belongings you’re insuring! 

Renters insurance, like homeowners insurance, comes in a variety of forms. One policy replaces your personal belongings based on fair market worth, whereas the second coverage replaces them based on replacement expenses. Although more expensive, getting a renters insurance policy based on replacement costs may be the best option if you merely want to replace belongings lost due to fire, theft, or other insured catastrophes. This keeps you from obtaining an indemnity cheque from your insurance carrier that is less than what you expected. 

How to Decide How Much Renters Insurance to Buy 

It is critical to understand how much coverage you would require when purchasing a renters insurance policy. Many financial companies estimate that you will need between $20,000 and $30,000 in coverage, although this varies on the value of the property in your home. The method outlined below will assist you in determining the worth of your personal goods. 

  • Make a list of everything you own, including your clothing. 
  • Determine the worth of each object. 
  • Add up the prices of everything you own and round up.  

With a real value assigned to your possessions, you can now obtain the necessary amount of renters insurance.  

Taking an inventory of your property may be laborious and time-consuming, but it is important in order to acquire the appropriate amount of insurance. Without this amount, you may purchase too much or too little, which might result in you having to pay out of pocket to replace your property in the long term.  

Wise Insurance Agency: Providing Renters Insurance You Can Trust

If you live in or around Ft. Wayne, IN and are renting a home or apartment, let us help you. No one likes to think about disasters striking but if something happened are you and your belongings protected? We can help with that. Give us a call today, and we can create a custom quote.  

Important Tips to Consider When Looking for Renter’s Insurance

Indiana is an ideal state to settle down in. It is a low-tax, low-crime rate, and scenic location with all the right amenities to build a home. If you are looking to come and study, work, or reside here, you want to consider covering your rented house and the property within with renters insurance. Wise Insurance Agency in Ft. Wayne, IN can provide you with expert insurance advice on this important coverage.

Is Renter’s Insurance Required?

No law specifically requires renters insurance, but your landlord may ask for it. Renters insurance is intended for residents planning to rent a home and covers what is inside the property, not the structure itself.

What Coverage Is Available Under Renter’s Insurance?

  • Personal property insurance: this covers the property inside your house from events such as water damage, theft, fire, vandalism, smoke, vehicular accidents, and other risks.
  • Third-party liability: This coverage caters to the cost should someone get injured on your property or should anyone listed on your cover cause damage to a neighbor.
  • Loss of use: should you be unable to access your home because of events such as fire, tornadoes, or any other natural disaster, this insurance cover will help you access accommodation, food, laundry, and other essential amenities.

How Much Does Renter’s Insurance Cost in Indiana?

Renter’s insurance is reasonably cost-effective, and it is often up to you to decide the level of coverage you need. The value will depend on the property within your home and what coverage is of utmost priority to you.

Contact Us Today

Many landlords ask their renters for this insurance coverage as they may not be able to replace your property and valuables should anything happen. Please visit Wise Insurance Agency in Ft. Wayne, IN for more information about renter’s insurance.

Renters Insurance Hidden Facts

Wise Insurance Agency assists the Ft. Wayne, IN community. For over 20 years, we have taken a personalized approach to offer coverage. We recognize that each of our clients has unique needs. We consult with our clients to help them obtain coverage that directly aligns with their situation. We proudly serve the community as an independent agency. We work with multiple carriers throughout the Midwest. This allows us to offer unique coverage options.

Renters Insurance Hidden Facts

The local Ft. Wayne, IN community has several unique rental properties. If you are staying in one of these properties, renters insurance will cover you. The policy covers all of your personal items if they are stolen or vandalized. Every item that you own has value, which is why insurance is important. Liability coverage protects you if you invite a guest over, and they suffer an injury. Perhaps you are throwing a party and one of your friends gets drunk and damages your neighbor’s property. Liability coverage will protect you in that situation. If your rental property suffers extensive damage, you can add temporary housing coverage, which covers you as you seek another place to stay while your rental property is repaired.

Remember that it is your responsibility to cover your personal items. Your landlord only covers the building itself. If you stay in an area prone to flooding, you will need to add extra coverage to protect you if your items are damaged due to flooding. Take inventory of your possessions as soon as you move into the rental property.

Wise Insurance Agency Will Help You Cover Your Assets

Visit our website to learn more information about renters insurance.  

Renters insurance FAQs

Renters insurance is not necessarily something that renters know much about. Only about 41% of renters have renters insurance. More importantly, 59% of renters don’t have insurance and will lose everything they own if their unit suffers catastrophic damage. At Wise Insurance Agency in Ft. Wayne, IN we want to help our customers who are renters to understand the risk they are taking and show them the options they have when choosing renters’ insurance. 

Doesn’t my landlord have insurance?

Yes, undoubtedly they do, but it protects their building, not your possessions. Even the nicest landlord in the world isn’t going to be taking care of the contents of your rental. 

What is the difference between renters insurance and home insurance?

Renters insurance and home insurance are very similar and cover many of the same things. The main difference is that home insurance includes insurance on the structure and renters insurance does not. 

Is renters insurance required?

No, renters insurance is not mandated by the state, but it is not unusual for landlords to require that tenants have renter insurance before they can sign the lease. 

What types of content insurance is available?

Renters insurance offers two types of content coverage. Actual cash value renters insurance will pay you based on the current value of an item. A five-year-old TV is worth much less today than when it was purchased. Replacement cost renters insurance will pay you what it costs to replace the item today. 

What coverage does renters insurance offer?

Renters insurance covers the contents of your rental, provides liability coverage for medical payments and personal liability, and also loss of use coverage if you can’t live in your damaged rental. 

If you are a renter who is ready to think about getting renters insurance, Wise Insurance Agency Ft. in Wayne, IN is here to answer any questions you may have. 

Types of renters insurance

Though no state advocates for renters insurance as a mandatory requirement, it’s a prudent idea to purchase renters insurance to protect your possession against certain damages and theft. In some instances, landlords in Ft. Wayne, IN may require tenants to show proof of renters insurance as part of the legal agreement between the landlord and the tenant.

No matter what type of place you rent in Indiana, whether it’s a duplex or a high rise, your renter’s insurance policy can offer protection to your finances if the unexpected happens. Connect with us at Wise Insurance Agency in Ft. Wayne, IN today to get a fast custom quote and learn more about choosing the right renter’s insurance policy that fits your needs and budget.

One of Ft. Wayne, IN tenants’ top priorities is protecting their space and personal possession from the unexpected. Your landlord’s renters policy does not cover everything leaving you with no other option but to buy renters insurance to guarantee protection against events like water backup damage, fire, vandalism, and other prevailing perils.

With a Wise Insurance Agency renters insurance policy, you enjoy inner peace of mind by knowing that your belongings are covered if they are stolen or destroyed by covered perils. Visit us at our Wise Insurance Agency offices and speak to our agents about obtaining a renters insurance quote.

Types of renters insurance at Wise Insurance Agency.

  • Content coverage: This policy protects your clothing, furniture, and other items from covered losses.
  • Loss of use coverage: This offers reimbursement for additional living expenses when your house is uninhabitable after a covered loss strikes.
  • Personal liability policy: It caters to property damage or bodily injury resulting from an accident at your residence.
  • Medical payments coverage: This helps to cater to medical or funeral expenses for anyone injured while on your property.
  • Building additions and alterations: This policy pays for covered damages to betterments, alterations, fixtures, or installations that you make in your house.
  • Valuables plus coverage: This form of the policy provides additional protection for high-value items such as jewelry, antiques, and fine arts.

Looking for the best renters insurance in Ft. Wayne, IN? Call or visit our Wise Insurance Agency offices and get comprehensive information about renters insurance.