Many renters in Boise, ID like not being tied down to a particular place. They are not responsible for a mortgage, taxes, home repairs, and home maintenance costs because the homeowner pays for all of that. However, one expense that renters should never forget is renter’s insurance. Every renter should purchase renter’s insurance from Fuhriman Insurance Agency.
Homeowner’s Insurance Won’t Cover Everything
Suppose something goes wrong at your rental unit. Maybe there’s a fire or a bad storm. What happens if the home is a total loss? The landlord, with his insurance, can pay to repair the house or apartment. His insurance will repair damages and replace appliances that were destroyed. However, his insurance will not cover the loss of your possessions. Everything that you have in the home, your furniture, your jewelry, or your electronics, will not be replaced by the homeowner’s insurance. Only the structure itself is covered by the landlord’s insurance policy.
Burglary or Vandalism
If you have a break-in, the homeowner’s insurance policy will only cover the repairs needed to the home. So broken glass, splintered doors, or vandalized walls will be repaired. But, this insurance policy will not cover the loss of your possessions in the event of a burglary. All of the money that you have invested in your possessions could be lost if you do not have renter’s insurance. You will have to pay out of your own bank account to replace these objects.
Loss of Use Coverage
If the home is damaged to the point that you cannot live in it until repairs are made, what will you do for a place to live? Some renter’s insurance policies will provide "loss of use" coverage to provide you a place to stay until your rental unit is available, keeping you from having to scramble to find a place to live for several weeks.
If you have questions about rental insurance in the Boise, ID area, contact Fuhriman Insurance Agency today.
You may have heard of umbrella insurance policies, but not really understand how they work. However, not everyone in Boise, ID needs an umbrella insurance policy. To determine if an umbrella policy is right for you, read these insights from Fuhriman Insurance Agency.
Extra Insurance Coverage
An umbrella insurance policy provides additional liability coverage beyond the typical limits of a homeowner’s policy or other type of policy. So, for instance, if you have an insurance policy for your boat or automobile, an umbrella policy will give you extra coverage if you were sued due to an injury involving your watercraft or car. This means that you will have a higher dollar limit to protect you in a lawsuit, beyond that which the original policy covers. For instance, if you have an accident that is your fault and the auto damages are $40,000 and the other driver’s medical expenses total more than $400,000, your typical auto insurance policy may not cover these expenses, and you may have to personally pay for the other driver’s costs. If you have an umbrella policy, your expenses could be covered. In some instances, umbrella policies may cover things like libel, slander, vandalism or invasion of privacy.
Who Needs Umbrella Insurance?
Umbrella policies may be a good idea for everyone, but they make especially more sense for certain people. People who are obviously wealthy or live in the public eye may be particularly at risk for lawsuits. Also, people who coach children’s sports, volunteer, or participate frequently in sports where someone could be hurt may likewise run a higher risk of being sued. Those who own items that have some sort of risk involved in their use (pools, trampolines, watercraft) may want an umbrella policy. Additionally, people who express controversial views online, on the radio, or on television may find an umbrella policy useful to protect themselves against lawsuits.
If you are considering an umbrella policy in Boise, ID, you can contact Fuhriman Insurance Agency with all of your questions.