Why Renters Insurance is a Good Idea!

According to the Insurance Information Institute, 95% of homeowners have home insurance. After all, mortgage lenders require it. So, why is it that only 40% of renters buy renters insurance? Unlike homeowners insurance, renters insurance is not always required; but it can without a doubt save you a lot of money and headaches in the long run.

Here are a few reasons why buying renters insurance should be something on your to-do list.

It’s inexpensive.

There’s a common misconception that renters insurance is expensive, leading renters to opt out. However, a renters insurance policy is generally inexpensive. Not only that, but it’s pretty flexible too. Be sure to contact one of our agents or customer service reps to hear about our low rates and coverage.

A renters insurance policy can help pay medical expenses for your guests.

A renters insurance policy can protect you in a variety of cases. Some that you may not have considered before. If you have kids, for example, it is likely that their friends will come over. Should one be accidentally hurt in your apartment, your renters insurance could help pay the medical bills up to the policy’s limit.

It’s 2018, things are more expensive to replace.

Things are not cheap. That great lamp or coffee table you bought two years ago probably costs more than it did when you first got it. In the event of a fire, flood or theft, your renters insurance policy can help pay for replacement cost at their current price. It makes it possible to replace lost or damaged items.

Your policy could help cover hotel expenses after a disaster.

After a flood or fire, the last thing you want to be worrying about is where you’ll stay the night and how you’re going to pay for it. Your renters insurance policy includes “additional living expenses” coverage in the event that your apartment becomes uninhabitable and you need someplace to live temporarily.

Your legal costs can be covered too.

If an accident occurs in your apartment and you are being sued, the liability coverage on your renters policy can help pay your legal costs up to your policy’s limit. Be sure to speak to one of our agents or customer service reps to hear your amount options.

These are only a couple of reasons why renters insurance is a good – great – idea. Not only will you be saving money, but you’ll have some peace of mind knowing that in any case, you’ll be covered.

Call us today at 877-999-2644 for a FREE quote on renters insurance and to hear your options.

GOOD IDEA
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Give Your Car a Security Checkup this Spring

Soon, many of us will undertake that thorough yearly ritual known as spring cleaning. It’s a time to clean up, check out and repair the important things in your life. There’s no better time to do it than when the weather is nice.

One item you shouldn’t forget to pay attention to this spring is your vehicle. Your car probably sustained its fair share of wear and tear in the last year. Thorough maintenance and upkeep can help you get it ready for more intense use during the summer. However, there’s another part of your car’s well-being that you should check up on this spring—its security.

Vehicle theft and vandalism are both possibilities nowadays. They can strike anywhere and at any time. How you protect your vehicle might make a big difference in whether you become a victim. Security steps, as well as the right car insurance, can help you prevent and recover from theft.

Car Insurance Coverage for Theft and Vandalism

Vehicle theft occurred at a rate of 236.9 incidents per 100,000 people in 2016, according to the Insurance Information Institute. Illinois was among the ten states with the highest rates of theft. If you live in the Prairie State, consider your auto insurance a source of help in case theft occurs.

Car insurance policies usually offer theft protection. However, these policies will likely come with conditions.

  • Usually, to receive coverage for theft or vandalism, you need comprehensive protection. Comprehensive coverage insures damage from incidents not related to wrecks or other collisions. It can often help replace the car, or repair damage sustained during a theft.
  • Even if you have comprehensive coverage, it might not provide the full recovery costs. Your policy limits will likely determine how much support, if any, for which you qualify. Most policies will likely include a deductible. If your vehicle damages fall under the cost of the deductible, you will have to pay for all the damage yourself. Also, some policies will only compensate the insured for the actual cash value of the vehicle. This is the depreciated cost of the car at the time of the theft. This value might be less than the full value needed to buy a new vehicle to replace the old one.
  • Your comprehensive insurance likely will not cover any personal items inside the vehicle. If something, like a purse, gets stolen from (or along with) the car, you might be able to file a claim on your homeowner’s insurance. Your car insurance will often only cover damage or losses to pre-installed features.

Therefore, talk to your insurance agent about how much theft coverage you need to carry. Make sure it is enough to help you replace the vehicle after a total loss. Your agent likely can offer expert information on the specific coverage for you.

Protect Yourself Against Theft, Save On Auto Insurance

If you have a high chance of auto theft, this might drive up your car insurance rates. However, there are ways for all drivers to take steps to reduce their vehicle theft risks. In some cases, these precautions might even qualify the driver for policy discounts. This could lower the cost burden they face for their coverage.

  • Consider if connected or internet-of-things technology can help reduce theft risks. Then, ask your insurer if they award discounts for connected security mechanisms. If you qualify for a discount, adding this protection to your car might prove beneficial.
  • Think about where you store your car. Usually, parking it inside a garage or close to your residence is the best safety step to take. When parking in public, keep your vehicle in a well-lighted area.
  • Always lock your car, regardless of where you leave it. Also arm your car alarm whenever you leave the vehicle.
  • Never leave valuables on view in the vehicle. Cell phones, purses, money, prescriptions and more might trigger a thief to break in or steal the car. Take these vehicles with you or lock them in the trunk of the car.
  • Consider buying theft prevention devices for your car. These might include steering wheel locks or special alarms. You can usually easily activate your devices as soon as you get out of the car.

If you experience vehicle theft, immediately contact the authorities and your insurer. You will likely need to file a police report or start an investigation to recover the vehicle. Your insurer will likely need to start a claim immediately upon theft occurring. This will help them better track the results of the investigation.

The good news is, based on your policy, you might have access to rental car reimbursement. Your insurance might pay some or all of the cost of a rental so you can at least drive even without the other vehicle. Car theft can be a difficult incident to experience. However, your insurance can likely come in handy as long as you have appropriate protection. Call us for a Illinois car insurance quote.

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