Universal Home Insurance

Universal Property Insurance

The Insurance Specialists Team is proud to announce we now represent Universal Property and Casualty Insurance!

For A Universal Home Insurance Quote call 612.460.7796 or Online

Minneapolis Universal Insurance

Homeowner’s Policy Designed for dwellings occupied by the owner

Dwelling Coverage Protection against covered perils such as wind, hail, lightning, or fire

Renter’s Policy Designed to cover contents in a rented dwelling

Condominium policy designed to provide coverage for owner occupied or tenant occupied condominiums

Renters Insurance Minneapolis

Renters Insurance

Many renters don’t understand the importance of renters insurance or how affordable it can be when combined with an auto policy. Most figure or hope anyway that since the landlord likely has insurance on the apartment or house then they are covered should tragedy strike. This is not the case. In most circumstances, only the structure and land are covered by the owner’s insurance, it is up to the renter to cover his personal belongings.

Renter’s insurance is inexpensive. It can cost as little as $7 a month for $10,000 worth of personal property coverage with $300,000 liability coverage. That’s less than the cost of many other item’s to insure all your personal property is protected. Sometimes the package discount savings on auto insurance can be greater than the cost of the renters insurance.

Certain cities cost less than others. For example, Renters insurance Minneapolis is a good bargain. Renters Insurance in MN in most cases offer cheaper insurance for all of your needs then most other states.

Renter’s Insurance covers the personal effects and third party liability of an apartment or house renter. Smart shoppers use a local independent agent with knowledge of the local market coverages and prices to evaluate comparative quotes from many insurance companies. Some elements that are important are the amount of deductible, maximum benefit, per occurrence maximums and the specific events that are excluded in the coverage. A local independent agent can be a real short cut when it comes to comparing as the have many options and can offer more policies.

A basic renter’s insurance Minneapolis policy does not cover certain types of damage like from floods. If you live in an area where such things like earth quakes occur, then you’ll need a separate policy if you want coverage. Additionally, if you live in a coastal region where hurricanes may be particularly destructive, extra coverage might be required for windstorm damage.

 

 

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A local agent like the ones you’ll find at the Minneapolis Insurance Team can be useful finding and advising you to determine what renters insurance policy coverage is best for your needs.

Renter’s Insurance: What you need to know about it

Do you need renter’s insurance?

If there is a fire or disaster like a tornado – won’t the building owner’s insurance cover everything?  How much renter’s insurance do we need?  How much does renter’s insurance cost? What does it cover?

These are just some of the questions we hear just about everyday and will attempt to answer them for you and save you some money in the process.

Most landlords these days are requiring tenants to carry renter’s insurance.  It’s something we advise them to do too.  The biggest reason for this is if there are any lawsuits it adds some layer of protection.  It also saves everyone a lot of head aches and heart aches.

Do you need renter’s insurance? Yes, If you rent a house or apartment, your landlord’s insurance will only cover the costs of repairing the building if there is a fire or other disaster like a tornado or the apartment above you floods from setting off the sprinklers or a pipe breaks, tub over flows, etc. and damages all your belongings.  If your stuff is stolen you’d be out too.  You need your own coverage, known as renters or tenants insurance in order to financially protect yourself and your belongings.

Renters insurance includes three important types of financial protection:

      • Coverage for Personal Possessions
      • Liability Protection
      • Additional Living Expenses

How much renter’s insurance do you need?  The standard policies offer from $10,000 to $25,000 to start.  It’s best to take an inventory of everything you have and see if the minimum is going to be enough.  If you have computers and electronics or expensive jewelery or collections you’ll want to find out if it is covered and how much it is covered.

Most renter’s don’t carry renter’s insurance.  We see those apartment fires on the news every so often and almost no one has renter’s insurance.  It’s tragic and senseless – especially if these tenants have auto insurance as it usually costs less to have both with the multi-policy discounts or at least makes it really affordable.

The average cost of renter’s insurance in Minneapolis costs around $8-$20 a month and if it is bundled in a package – depending on how much they are paying for auto insurance – the discounts may actually cost them less each month then they are currently paying.

Renter’s insurance covers you against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and certain types of water damage (such as when the tenant upstairs leaves the water running in the bathtub and floods out your apartment or a burst pipe).  It will pay to have you relocated, pay for expenses incurred, temporary housing, meals, laundry, etc.  It will protect you if someone sues you. If you flood the apartments below you or someone is injured while in your apartment or home.

Anyone who has ever suffered a loss while renting have been so grateful and relieved that they had renter’s insurance.  They would be the first to tell you what a bargain renter’s is for you.  Do you have renter’s insurance?  If don’t have renter’s insurance – why don’t you?