Myths About Renters Insurance

Renters Insurance is a policy that covers property owned by the renter in the event of loss, theft, fire, and other damages. There are usually multiple levels of coverage you can choose from that provides the best protection. If for some reason the place you’re are renting becomes uninhabitable for a period, your policy may help pay for you to stay elsewhere temporarily.

Items that are covered will be listed in the policy’s text and maybe up to the renter to provide photos or proof of ownership to the insurance provider. There may also be liability coverage included in a policy to protect renters in case someone gets injured or someone else’s property is damaged while in your property.

Myths:

• It’s Expensive

If you think of the difference in premium in owning vs. renting. Renters have a big advantage in terms of the amount you pay for insurance. The average premium for homeowner’s insurance is $1000 per year. The average price for a renter’s insurance policy is between $150-$200. That’s only about $15-$30 a month.

• One tenant’s policy covers everybody’s stuff

While your items may be covered if you have a roommate with a renters insurance policy. It is usually not guaranteed and not likely. Insurance usually only covers the persons whose name appears on the policy. Signing a joint policy is easy to do from your provider and sometimes can mean paying less per person per year.

• Your possessions aren’t valuable enough to insure

Even if you don’t own a brand new TV, computer, or home gym, you will still have items that warrant insurance. If you add up all your items like kitchenware, clothes, etc. It adds up quickly and would be costly to replace by yourself without the help of renter’s insurance. Always consider the total value of ALL your items and how much it would be to replace, not just your most expensive.

• Without the risk of severe weather, a policy isn’t worth it.

Even if you don’t like in an area where earthquakes and tornados aren’t likely many insurance policies can provide coverage for more likely events such as vandalism, fire, water damage, and burglaries. There are separate policies that cover related events.

• Landlord’s Insurance Covers Personal Property

The landlord will have his own insurance, but this will cover the building itself not the items in it. This means items that are stolen or damaged inside the property will not fall to the landlord or his coverage to replace. Most landlords will require their tenants to have a renters insurance policy in place while renting.

• If you live near water you can’t get insurance

It is true that some carriers won’t provide insurance to a tenant who lives in a coastal type area. This is due to wind damage and the possibility of flooding. The best course of action is to research which companies will provide coverage in those areas and contact them to see what your options are.

Before buying renters insurance you should talk with your provider to ask any questions you may have and get clarification on what costs and coverages are available. Providers like the ones here at Arnold Insurance Agency have years of experience providing coverage for almost any situation and we guarantee we will do everything to get you the best policy for the best price and help you chose a plan that will give you peace of mind. As one of Ohio’s premier personal insurance agencies, we work with dozens of the top insurance carriers in the state to shop around for the best policy you can get.

Call us at 614-863-0455 or email at info@arnoldinsuranceagency.com for a free quote today!

The 10 Things You Need to Do After a Car Accident

“I was just in a car accident, what do I do?” 🤔🤷❓

In the United States alone there are over 6 million auto accidents each year with 20% of them involving fatal injuries.

If you are unfortunate to be involved in one, make sure you remember these 10 things you need to do to protect yourself and your interests:

1. STOP. 🛑

Do not leave the scene of the accident ever. Doing so will result in a “hit and run” violation and it’s 100% illegal and you will face charges from the police.

2. PROTECT THE SCENE.✋

For your own safety and other drivers passing by you should set up cones/flares if you have them. Always keep your emergency lights on for both cars to alert other drivers to stay away. In the dark you should keep a flashlight on, so you can alert other drivers of your location.

3. CALL THE POLICE.👮

In almost every situation of an auto accident, you should call the police. Even if there is no serious damage or apparent injury this can protect you from the other party making claims against you later.

4. MAKE AN ACCURATE RECORD.📝

Make sure you tell the police everything that happened as accurately as you can. Do not guess, if you don’t know or don’t remember it’s ok to tell the officer that. If you are not 100% sure if you are injured in any way tell the officer “I’m not sure”. Injuries from car accidents sometimes don’t surface until hours after the accident. Also, make sure the other party in the accident is telling the office accurate information as well to protect yourself.

5. TAKE PICTURES.📷

The more the better. This will provide accurate detail of the damage of both vehicles and the scene. Be sure to take pictures of any visible injuries you suffered as well.

6. EXCHANGE INFORMATION.🤝🏻

The officer on the scene will take all the relevant information for their records as well but you should always do the same. Information you should take are:

• Name of the other driver/s

• Their address

• Phone number

• Drivers license #

• License plate #

• Their insurance information

• Witnesses’ name and phone number in case you need an attorney and they need to contact them.

• Police report #

7. REPORT THE ACCIDENT.📱

Let your insurance company know ASAP of any accidents you are involved in whether it is your fault or not. They will be able to help you every step of the way with renting a new car and working with the other person’s insurance company to make sure the claims are filed correctly. Most policies require immediate reporting so do not fail to do so.

8. SEEK MEDICAL ATTENTION.🚑

If you or are injured in any way you should seek medical attention immediately whether it involves having an ambulance come to the scene or you go to the hospital right after the police wrap up their report and send you on your way. Often, injuries caused by motor vehicle accidents are not immediately apparent. Even in accidents involving minor impact, you can sustain a serious and permanent injury to your spinal cord. If you lost consciousness or were dazed for even a short period of time following the collision, you may have suffered a concussion or closed head injury. This can cause cognitive and behavioral changes if left untreated.

9. KEEP A FILE.📁

Keep a record of the information on the accident. This will include all the information you took earlier as well as files of the photos you took at the scene.

10. PROTECT YOUR RIGHTS.🛡️

The most important thing you can do after an accident is contact an attorney. They can protect your rights and make sure all the evidence is collected and protected. Sometimes insurance companies will want official statements from you about the accident but consulting with an attorney first can provide the legal advice necessary, so you don’t make mistakes or incriminate yourself. Your attorney can advise you on issues ranging from how to make sure you are fully compensated for your vehicle to how to make sure you are getting the best medical treatment available. Personal injury attorneys work on a contingency fee basis, which means there is no legal fee unless the attorney recovers compensation for your injuries.

👍👍👍

If you don’t have insurance or think you don’t have enough coverage and are paying too much, call us! The Arnold Insurance Agency can help find you a car insurance quote that fits within your budget and checks all the boxes for what coverage you need. As one of Ohio’s premier insurance agency, we work with dozens of the top insurance carriers. Call us at 614-863-0455.