How Much Renters Coverage Do I Need?

When it comes to understanding renters insurance, knowing what your insuring is easy. Your stuff. The hard part comes when trying to figure out how much protection you need. At Fuhriman Insurance Agency in Boise, ID we want to make sure you have you have the right amount of renters insurance. 

So here’s the thing, you may think to yourself, why do I need an exact dollar amount or I’ll just pick a high amount get newer, better stuff. Sure that sounds good. But, insurance companies aren’t going to pay a claim without proof that you had the items you are claiming to be damaged or stolen. 

Whatever the case may be.   They also don’t really care about sentimental value, sure Grandma Rose may have knitted you that sweet afghan, but it’s only worth what you could buy a new blanket for. 

When it comes to contents insurance, you want to pick an amount that truly represents your belongings. If you choose too much insurance, you will be overpaying in your monthly premiums, but not enough coverage and you will be out when it comes to claiming time.

Okay, so now you may be asking, how do I value all of my personal belongings? How much is my stuff worth?

Now, this may take a bit of time but, is totally worth it.  Maybe invite a friend over to help, and make it fun. There are several ways you can figure out how much your the contents of your home is worth. You can make a list of the items in each room, then go back and value those items.  Basically shop for that item online, once you find the cost of replacement, put the value next to the item. Now, this is probably the most time-consuming method, and then you have to find a safe place to keep the inventory.  Or you can try a home inventory app. These apps keep the list of your belongings in one place, and you can even add photos. Making it super easy to communicate with the insurance company if you ever have a claim. 

Fuhriman insurance agency in Boise, ID makes it easier to protect the things that are important to you. 

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.

Throwing Parties as a Renter: Why You Need Insurance to Protect You

When you decide to throw a party in your apartment, it’s unlikely that you put ‘buy renters insurance’ on your to-do list. You’re probably far more concerned about serving the right appetizers and getting the right decorations than you are with anything else. But the people in Boise, ID who want to protect themselves from liability claims may want to reconsider their actions before going any further. 

How Liability Works 

While every situation is different, renters are typically held liable for what happens to their guests when they’re on their property. This means that if a person slips and falls on your kitchen floor because another guest spilled a drink and didn’t clean it up, you may have to pay for the injured party’s medical bills due to negligence. You’re also responsible for keeping your guests on the premises if they happen to become impaired from alcohol or drugs. If they leave in their car and hit someone else, there’s a chance that you’ll be asked to pay the medical bills. 

Help from Fuhriman Insurance Agency

Our agency is here to help renters in Boise, ID get a handle on their responsibilities so they don’t make a mistake that could haunt them for the rest of their lives. Throwing a party is a fun event that will typically go off without a hitch. It’s not a reason to become scared to have people over to your home or to hide away from the world. But at the same time, it’s foolish to pretend there aren’t risks involved when it comes to your next big bash. For more information call Fuhriman Insurance Agency for a free quote. Renters insurance is one of the most affordable types of insurance available!

Your Car: Is It Covered By Renter’s Insurance?

At Fuhriman Insurance Agency, we have seen just about every kind of problem that could affect a homeowner. One that is sadly common is losing a rented home through a fire, including the vehicles parked in the garage. Will your Boise, ID renter’s insurance policy cover your car?

Sadly, Your Car Is Not Covered

Renter’s insurance will not cover vehicles or cars that are damaged as a result of any circumstance. In fact, most policies will expressly state that they do not cover this kind of damage. While this can be a frustrating situation, it is understandable. It would cost the company too much to pay for your car repairs.

There is one instance, however, in which renter’s insurance may cover your car damage. That is if your car is used to service the residence, rather than being used on the road. This situation can be confusing to understand, though, so it is vital to discuss how it works.

When Renter’s Insurance Covers Your Car

As mentioned above, renter’s insurance will cover your car’s physical damage if the vehicle is used to service the home. This means that the vehicle is used only on the property and to service it. For example, if you live on a piece of rented property and you own a truck that you use to do farm work, then it is likely to be covered by renter’s insurance.

The tricky part of this is that your vehicle cannot be used for any roadworthy purposes. In fact, it can’t even be registered to drive on the road at all. In this instance, your vehicle is considered part of the property and is covered. Otherwise, renter’s insurance does not cover your vehicle.

Covering Your Vehicle And Home

Don’t hesitate to contact us at Fuhriman Insurance Agency today if you live in Boise, ID or in the surrounding area. We will provide you with the high-quality help you need to protect your vehicle and your rented home from serious damage.

Ways To Improve Your Rental

As a renter, there are not many things that you can do to improve a property. This is simply because you do not own it and cannot make any permanent changes without approval from your landlord. There are a few ways you can make improvements to the property without making permanent changes. These improvements can make the home reflect your personality more while you live there. Follow these tips to make your rental more appealing!

  • Add a mirror to a room that may feel small. Adding a large mirror in a corner of a room can really open up the space. This will need to be a mirror that you can stand up on the floor so you do not make any actual changes to the rental. 
  • Use a colorful rug to hide ugly flooring. Sometimes in rentals, you do not get brand new carpet or flooring before moving in. If you do not like the look of the flooring, cover it up with a rug of your choice.
  • Add some plants to bring life to the property. It is amazing what a few plants can do to the look and feel of a room. If you want some more life in a room, add some plants, even if they are fake.
  • Consider painting a wall or two. You will want to check with your lease but if you can paint the walls, as long as you repaint them the generic color upon move-out, do it! You may want to consider just painting an accent wall for a few rooms.

If you are renting a property, you should be insured. If you do not currently have rental insurance, contact Fuhriman Insurance Agency serving Boise, ID, to get a quote for a policy that fits your needs.

Ensure That Your Personal Property Coverage Exceeds the Value of Your Possessions

One of the main coverages included in most renters insurance policies is personal property protection. Designed to insure your belongings against a variety of perils, this coverage will reimburse you if your possessions are damaged or lost in a covered incident. In order to have your belongings fully insured, your renters insurance policy’s personal property protection limits need to exceed the value of your belongings.

Personal Property Coverage Limits

Like all insurance coverages, personal property coverage includes limits that determine the maximum amount your insurance policy will pay for a covered loss. Your insurer won’t reimburse you more than your coverage’s limits, and your coverage may include different limits for different types of belongings. Your coverage’s limits should exceed the total value of your covered possessions.

Sometimes, renters are tempted to lower their personal property coverage in order to reduce their premiums. Doing this leaves you vulnerable, though.

Finding Affordable Coverage

Instead of sacrificing your coverage to save on your insurance premiums, you should shop around for a more affordable renters insurance policy. At Fuhriman Insurance Agency, our independent insurance agents make it easy to find the lowest-priced policy in Idaho. In just a short while, they can pull up multiple quotes and compare them with your current premiums. If there is a cheaper option, they can help you switch.

If you live in Boise, ID, or anywhere else in the state, contact our agents through our website to find affordable personal property coverage. The entire process is quick, and it could save you a few dollars every month without sacrificing your coverage.