State Farm® Agents Near East Rochester OH

There are two big misconceptions about renters insurance. The first is that it’s too expensive and the the second is that it’s not needed.

If you do not have renters insurance you will have to pay to replace all your personal items in the event of a fire or theft. In Addition, you could face the possibility of defending yourself in a lawsuit because of some accident for which you might be held legally responsible, whether it happened where you live or elsewhere.

In many cases, for less than a couple hundred dollars a year you can protect your valuables, like your furniture and clothes, from loss by fire, theft, wind and water damage or other covered hazards.. But many renters still don’t believe they need such renters insurance. A survey conducted by Cambridge Reports, Inc. for the Insurance Information Institute found that less than three out of every 10 renters purchase renters insurance.

Many renters mistakenly believe their landlord’s insurance will cover their own belongings. In fact, it would be tremendously rare for a landlord’s policy to extend to atenants’ property.

To determine how much insurance coverage you’ll need, take a extensive inventory of your personal items. An insurance agent can help with this by estimating the total value of your property. You’ll also need to decide whether to purchase depreciated or limited replacement cost coverage. Depreciated coverage is the cost to repair or replace your belongings minus depreciation. Let’s say you bought a quality sofa with an expected useful life of 10 years. If it’s now five years old and would cost about 1,000 to replace, you could expect to receive about $500 (less deductible) if your sofa was destroyed by fire. You would pay slightly more for limited replacement cost coverage, but you could expect to receive $1,000 for your sofa minus your deductible.

Keep in mind that many types of personal property coverage are limited in terms of dollars. Renters insurance also gives you personal legal liability coverage and medical payments to others who are accidentally injured while in your home, apartment or elsewhere if the injuries are caused by your actions. And, if you are forced to live elsewhere because of damage to your residence because of a covered loss, renters insurance covers additional living costs.

Remember, you may not own the building in which you live, but you still need to have insurance to protect your property in the case of fire, theft or other hazards. Talk with your insurance agent for more information.

Auto insurance

State Farm® has been in the business of providing excellent auto insurance coverage at an affordable price since 1922. Responding to our customers' needs keeps us the leader in auto insurance.

Car insurance coverage is designed to help financially cover potential auto-related damages, loss or injuries. It helps protect you, your passengers, your fellow drivers, pedestrians, other people's property and your vehicle. It can also help protect you in the event of an automobile-related lawsuit.

Home insurance
Renter's insurance
Condo insurance
Motorcycle insurance
Life insurance
Business insurance
And more...
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