What is Renters Insurance?

Most Boise, ID renters often think that their landlord’s insurance coverage will cover their possessions, but that isn’t the case. The landlord’s policy is designed to cover the building itself – it may not protect your personal belongings or cover injuries you or your guest might sustain within the structure. This is where the renter’s coverage from Fuhriman Insurance Agency comes in.

A renters insurance plan protects your personal property in a rented home, apartment, or condo from unexpected circumstances. Your carrier will pay you for damaged or lost possessions. This policy can also protect you from liability if a person gets injured on your property. Renter’s coverage resembles a homeowner’s insurance policy, with the exception that it doesn’t offer coverage for the house itself or other structures.

How it works

When you suffer a covered loss in your rented space, your renter’s coverage will help to cover the expenses. The amount you will get normally depends on the loss you have incurred and the coverage amount you have. Note that there are two main coverage options under a standard renter’s policy: Replacement Cost and Actual Cash Value plan. The Actual Cash Value plan will pay you for the exact value of the possessions at the time of loss or damage while the Replacement Cost plan will cover the expenses for replacing the damaged or lost items.

What will renters insurance cover?

This coverage protects the destruction or loss of your personal belongings when a covered risk occurs. This may include risks like theft, hail, vandalism, lightning, fire, windstorm, or a frozen plumping system. You can always get additional coverage depending on your needs, so talk to your insurance agent first.

If you are searching for a renter’s insurance policy in Boise, ID, contact us at Fuhriman Insurance Agency. We will help you get a coverage that’s designed to suit your requirements.

Umbrella Insurance With a Mortgage

If you live in Boise, ID and are hoping to buy a home, you are likely going to end up with a mortgage. And your lender is now claiming that you need to purchase an umbrella insurance policy before they will give you any money. What is this type of policy and why is it so essential when getting a mortgage? Let us at Fuhriman Insurance Agency help you understand this issue.

Understanding Umbrella Policies

Umbrella policies are extra liability coverage that is designed to keep you safe when something bad happens to your home. For example, it will protect you from lawsuits if somebody is injured on your property. Strangely, they also help you defend against libel and slander lawsuits. A growing number of lenders are now requiring that borrowers take out these policies before getting a mortgage. This requirement is designed not only to protect you from unexpected problems but to ensure that your lender’s assets are not affected in a negative way. 

The Benefits of Umbrella Insurance

Umbrella insurance can help you cover a variety of problems and issues with your home that you might not expect. For example, it will cover items in your home, such as boats, that other policy might not help. They also improve the quality of your mortgage and may even decrease your payments a little bit. Don’t expect a miraculous decrease in cost but a reasonable decrease.

Let Us Help You Find a Policy

If you live in Boise, ID and need high-quality umbrella insurance, don’t hesitate to contact us at Fuhriman Insurance Agency. We serve the area and provide you with the help you need to find the best policies for your needs and will work hard to ensure that you don’t pay too much for your policy.