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.