Renters Insurance | American Family Insurance

By: American Family Insurance  09-12-2011
Keywords: Home Security, Fire Protection, home purchase

You’ve built a home out of your apartment and filled it with all the things that make up your life. If these personal possessions were damaged, destroyed or stolen, would you be able to replace them?

American Family Renters Insurance covers the items important to you, because your peace of mind is important to us.

How Much Renters Insurance Do You Need?

For a general guide of how much renters insurance coverage you may need, use this chart. Match the general quality of your possessions – economy, standard or luxury – with the number of rooms (not including bathrooms) in your home.

2

3

4

5

Economy

$23,300

$26,200

$29,000

$31,800

Standard

$34,100

$38,200

$42,400

$46,400

Luxury

$39,600

$44,700

$49,200

$55,100

6

7

8

9

10

Economy

$34,600

$37,500

$40,300

$43,100

$45,900

Standard

$50,600

$54,600

$58,700

$62,900

$67,100

Luxury

$63,100

$70,200

$76,300

$81,900

$87,200

Brochure: .1

Discounts

American Family Insurance offers you a variety of ways to save money. You may qualify for a Claims-Free Discount, a Customer Longevity Discount, a New Home Discount, a Home Security & Fire Protection Discount, an Age of Customer Discount, a Home Purchase Discount, a Home & Auto Discount, a Home & Cycle Discount or a Home & Umbrella Discount.

FAQs

What protection is provided by renters insurance?
Renters insurance is a package that provides coverage for your personal property. It also provides liability coverage when you’re legally responsible for a covered accident not excluded under the policy. If someone other than you or a resident of your household is injured in an accident on your insured premises, your American Family Insurance renters insurance provides medical expense coverage.
Why do you need renters insurance?
If you’re renting your residence, you are responsible for protecting your possessions against loss. You may also need protection against any covered liability loss. Your landlord is only responsible for the building and any furnishings, appliances and other things that may be included with the dwelling.
Who is covered under a renters insurance policy?
To be an insured, a person must meet one of these qualifications: People specifically named on your policy, called “named insureds.” Residents of your household who are your relatives and/or any other person under the age of 21 in your care or in the care of your resident relatives.
What is replacement cost coverage?
This coverage pays the cost to restore or replace damaged or destroyed property without deducting depreciation.
How can you avoid being under-insured?
There are several things you can do to avoid being underinsured. Inquire about personal property endorsements that cover special items such as jewelry, furs, computers and fine art. Be sure to tell your American Family Insurance agent when you make improvements or additions or purchase additional valuable items. It’s also a good idea to have an up-to-date inventory of your personal belongings. Photos, videotape and digital disks are a good way to record what you have. Be sure to keep these files and tapes in a safe place off premises, such as a safe deposit box.
Does this policy cover flooding?
A property policy (homeowners, condo or renters) excludes flood coverage. However, your American Family Insurance agent can help you purchase flood insurance through the federal government.
Does this policy cover sewer back-up?
Your American Family Insurance property policy (homeowners, condo or renter) does not include coverage for sewer back-ups. American Family sells an optional endorsement that helps provide protection against these losses for eligible risks. Contact an American Family agent for more information.
Does this policy cover jewelry?
Policies provide up to a certain amount of coverage for loss of jewelry if the loss is the result of a covered peril, such as theft. You may purchase an optional endorsement that provides increased limits for risks of accidental direct physical loss or damage. You may also schedule your individual items of jewelry for a further increase in limits.
What is Identity Fraud Expense Coverage?
This optional endorsement helps cover the expenses associated with re-establishing a person’s damaged credit, such as legal fees, loan reapplication fees, telephone and certified mail charges, notary expenses and lost wages for any time taken off work to correct the fraud. Learn more.
What is Personal Computer and Electronic Equipment Coverage?
This endorsement provides coverage against accidental direct physical loss of personal computers and electronic equipment.
Is a child leaving for college covered by renters insurance?
If your child is temporarily residing at a school residence, your renters policy normally insures your child’s belongings subject to the terms in your policy. Children residing permanently away from home, will need their own policy.
What if you don’t have much personal property?
You may have more personal property than you realize! Before you reduce your insurance coverage, complete an inventory of your personal property, including the approximate cost of each item. With this information, your American Family Insurance agent can assist you to protect your home’s contents and other personal property at home or away from home.
What if you add a roommate?
Advise your American Family Insurance agent immediately. It is important that your agent update your policy to properly insure your roommate. Typically when two unrelated occupants rent an apartment, personal property protection is best accomplished when each person has a separate policy.

webHOME-0001941 Rev. 03/11

The information in this article was current at 06 Dec 2011

Keywords: Family Insurance, Fire Protection, home purchase, Home Security, Insurance Offers

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