If your teen is heading off to college or university this fall, you’ll want to ensure that they have adequate coverage for their belongings. Did you know that a homeowners policy with Steers Insurance may include coverage for your child while they are enrolled as a student at no additional cost? Certain restrictions apply, so please contact your Steers Insurance representative to review your existing coverage.
If coverage is not extended from your existing policy or limits are not sufficient, you may want to consider tenants’ insurance. Although it might seem unnecessary to purchase insurance for a rental property, you will be happy you did. A person’s landlord has no responsibility to replace personal possessions in the event of a theft, fire, or flood. Even if you do not own the property, any assets on it that are yours, if destroyed, are out of your pocket to be fixed or replaced.
If this is the first time you’re living in an apartment, you’re probably thinking you have not yet accumulated anything of real value. However, you may not realize how much it is to replace everything you own. Even second-hand furniture might not seem like a huge investment, but to have to replace it all at once will be costly. If you’ve purchased electronics or any other belongings on credit and something happens to it, you will still be responsible for paying the balance to your creditor.
Further to this, liability insurance is included in your tenant’s insurance policy. Liability insurance coverage will protect you in the event you are found legally liable for damage to property that you do not own. If for example, the stove caught fire and caused damage via smoke and fire to the whole building, you may be held liable. Without liability insurance, you could end up paying for a long, long time.
By combining tenants’ insurance with your existing automobile insurance you may be eligible for discounts up to 20%!
Please contact your local Steers Insurance representative for coverage options.