Affordable Renters Insurance Chicago
Unlike car insurance, renters insurance is not required by law. However, some apartment complexes and landlords may require insurance in order to sign a lease. If you rent an apartment or a house, an affordable renters insurance policy is the best way to cover your property.
Some renters wrongly assume that their landlord’s property insurance policy covers their belongings. Anything inside a rented apartment or house is only covered through this policy. According to a study by ORC International, only 37 percent of renters have an insurance policy.
Renters may think their belongings are not valuable, monetarily speaking. However, electronics alone could take thousands of dollars to replace. One scenario most renters often overlook is injuries. If someone gets hurt on your rented space, the injured person may sue you.
The average cost of an insurance policy is $171 a year in Illinois, according to Value Penguin. This breaks down to $14.25 a month.
Renters insurance provides coverage for your personal belongings, personal liability, loss of use and medical payments caused by perils listed on your insurance policy.
Common perils include:
- Fire and smoke
- Theft and vandalism
- Falling objects
- Weight of snow, sleet, or ice
- Water damage, excluding floods
Insurance Navy offers free insurance quotes at your local office, over the phone, online or through the mobile app.
Do you need more information about renters insurance? Our agents and customer service representatives are here to help. Call us today at 1-888-949-6289 or visit your nearest Insurance Navy location. For your convenience, Insurance Navy is open from 8 a.m. to 9 p.m. CST, 7 days a week.
*Please review your own policy carefully for details on renters insurance. Renters insurance varies by insurance company and policy.
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