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Business Personal Bonds Benefits

Without a doubt in our minds, renters insurance is important. Let's take a moment to explain just why you should care about this subject. Many people assume when they rent a house, apartment or duplex, the landlord’s insurance policy covers their personal belongings and potential injury-related liability. This incorrect assumption often leads to consequences that are avoidable when you invest in a renters insurance policy.

Cost of Renters Insurance

Protect your belongings—clothing, jewelry, electronics, furniture and clothing—for less than $200 a year with a simple renters insurance policy. The average renter owns approximately $20,000 in personal property. How much coverage you require depends on variables such as your home's location and the amount of deductible you feel comfortable paying out-of-pocket should the need arise. 

Examples of Losses Covered by a Renters Policy

A basic renters insurance policy covers your personal property from damage caused by hail, lightning or windstorm damage, smoke, theft, vandalism or damage resulting from fire, faulty plumbing, heating, air conditioning or a sprinkler system. 

Liability Coverage

As protection against a lawsuit due to injury to a neighbor, friend or delivery man in your residence, renters insurance helps pay for medical, legal and other costs related to the injury up to your policy's limits. An average policy provides a minimum of $100,000 liability and between $1,000 and $5,000 for medical coverage. The higher the liability and medical limits, the more expensive the policy.

Other Coverage Examples

Should your residence become uninhabitable due to perils such as fire or weather damage, a renters policy may help cover temporary housing costs and food. In addition, a renters policy protects your personal belongings from theft and damage when you travel.

Renters Insurance Quotes

The easiest way to get a renters insurance quote is to contact an independent insurance agent. He or she will gather information from you and then search for policies across many insurers on your behalf. What are you waiting for? Get started today!

We’re here to assist you. Call McFarlin Insurance Agency at (410) 312-7800 for more information on Maryland renters insurance.

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McFarlin Insurance Agency, LLP
8325 Guilford Rd, Suite A
Columbia, MD 21046


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