What Does Renters Insurance Cover

by Administrator 21. March 2017 14:39

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Top Questions About Renters Insurance

by Administrator 19. January 2017 08:23

Having an insurance policy is crucial if you live in a rental property. It will cover the financial losses in case of damage to your personal belongings and valuable assets. Renters insurance also pays for the medical expenses in case someone gets injured within the premises of your property.

When buying renters insurance in Killeen, TX, you must make sure the company has a good reputation in the industry. The policy you choose must cater to all your requirements and fall within your budget. You can even ask questions to your insurance agent to clear your doubts.

Listed below are some of the questions that you may need to ask while buying renters insurance:

Can I move my renters insurance to another apartment?

Yes, you can transfer your renter’s insurance to another apartment within the same state.  However, each time you relocate, you need to provide your new address to the insurance agent.

Will landlord’s insurance protect my personal belongings?

No, a landlord’s insurance cannot cover your personal assets. It only pays for any damage to the physical structure of the house. That is why, having renters insurance is essential.

What are the payment options for renters insurance?

You can either pay online or through checks. Premiums can be paid monthly, quarterly or annually as per the terms of your policy.

Is personal liability included?

Yes, personal liability is generally included in renters insurance. It provides financial protection in case you are held legally liable for any injury to the guests within the premises of your property.

Are my roommates insured?

Spouses and immediate family members are automatically covered in the renters insurance. However, if you want to include a roommate, you must get him specifically named in your policy. Do not forget to check the damages and renew your insurance plan in case he leaves the property.

What does renters insurance usually cover?

Most of the insurance companies cover the personal belongings such as furniture, clothes, electronics, artwork etc. It may also cover jewelry, silverware and other valuable assets. However, you must ask your insurance agent about the different types of coverage options available under your insurance plan.

What is the difference between actual cash value and replacement costs?

The difference between the actual cash value and replacement costs is given below:

Replacement costs

It includes the cost of replacing any damaged item in the property. The replacement cost is calculated without considering the depreciated value of the item.

Actual cash value

 It pays for the valuable possessions in case they are lost or stolen. The price of these items is set at the market value i.e. the actual value minus the depreciated value.

How can I save on renters insurance?

You can consider buying more than one policy from the same carrier. It may help you to get multi-policy discount. If you are choosing a higher deductible, you can lower your insurance premiums. Having a good credit score can also help to save money on your renters insurance.

What perils are covered?

Insurance agencies provide coverage in case of unforeseen circumstances such as theft, fire, smoke etc. However, certain policies do not offer coverage in case of earthquakes and floods. Make sure you confirm it with your insurance provider before signing the policy.

What if I want to move out during repairs?

In case your rental home is being repaired or renovated, it may not be conducive to live there. Most of the insurance policies cover the additional expenses which may occur due to living in a temporary rental unit or hotel charges. It may also include the restaurant bills, transportation costs etc. The company pays for the expenses until the home gets completely repaired.

You must inquire about the claims procedure from the insurance agent. Also make sure you read the insurance policy carefully. This can help you to choose the best insurance plan.

We, at Shawn Camp Insurance Agency, Inc., provide comprehensive renters insurance in Killeen. The agents at the firm have extensive knowledge about various insurance plans and provide quick response to queries of clients. For more information, you can call at (254) 526 - 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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Top Reasons To Purchase Renters Insurance In Killeen

by Administrator 24. November 2016 11:20

If you live in a rental home in Killeen, TX, investing in a comprehensive insurance policy should be one of your topmost concerns. While your landlord's homeowners insurance may cover the damage caused to the physical structure of the home, your personal belongings need to be protected in case of unforeseen circumstances. Fire, water damage, theft and accidents inside the home may hold you responsible for the losses incurred. Having a renters insurance policy will not only provide financial coverage for your prized possessions but also protect you in case of any legal liability.

Discussed below are some of the reasons why you should purchase renters insurance:

Protection For Your Personal Belongings

The renters insurance policy will cover all your belongings in the house, be it electronic appliances, jewelry, clothing, antiques and other valuables. In case these items are stolen or get damaged due to fire, water damage, vandalism, smoke etc., you can file a claim. The insurance provider will recompense the cost of repairing or replacing the items, as the case may be. Damage caused due to flood and earthquake are usually not included in the insurance policy and you may need to buy additional coverage to protect against such disasters.

Required By The Landlord

In some states, the landlord may require the tenants to present a proof of the renters insurance policy before letting the property to them. The landlord's insurance policy covers only the rental home and its attached structures. Renters insurance policy provides the certainty that the tenants are adequately protected for damage to their belongings which, in turn, reduces the liability for the landlord.

Its Affordable

Renters insurance is pretty affordable and considering the thousands of dollars’ worth of personal property you may have, the policy seems to be quite an essential investment to make. However, the actual cost of the insurance may depend upon the type and amount of coverage you buy, place of residence and the deductible you choose to pay. Make sure you get in touch with different insurance providers to get the best rates for your policy.

Includes Property Damage Liability

Most renters insurance polices also include property damage liability. This type of coverage provides protection in case a disaster in your home causes damage to someone else's property. For instance, a short circuit in your house caused fire that extended to the adjacent apartment. In such instances, the renters insurance will recompense the repair costs incurred by the other party.  

Protects Against Guest Injuries

In case someone gets injured on your property due to your negligence, such as by tripping on a loose step or falling on slippery floor, you may be legally obligated to pay for his medical expenses. Also, if your pet bites someone, you may have to face a liability lawsuit. In such instances, renters insurance can work in your benefit. The policy recompenses the injured party's treatment bills and the cost of your legal defense, up to the coverage limits.

Covers Your Belongings When You Travel

A renters insurance policy not only covers the belongings stored inside the home, but also the ones kept in the car, office or while you travel. Thus, if your laptop gets stolen somewhere out of the premises of your home, you may still get compensation to buy another one of the same market value. However, make sure you ask your insurance agency about the coverage limits and the areas where the policy will be applicable.

Coverage For Damage Caused By You

In the event that you unintentionally caused damage to someone else's property, renters insurance can help to pay for the losses incurred. For instance, you break your neighbor's window or a water pipe leak extends to the adjacent apartment. The policy will help you cover the costs of repairing or replacing the damaged items.

Provision For Additional Living Expenses

If your home has damaged to an extent that it becomes temporarily uninhabitable, you can claim your additional living expenses through the renters insurance policy. Depending upon the coverage limits, it will provide for the costs of food, accommodation, transportation and other basic necessities.

If you are looking for renters insurance in Killeen, get in touch with Shawn Camp Insurance Agency Inc. We offer comprehensive insurance premiums with affordable premiums and extensive coverage options. To request a quote, you can call at (254) 526 - 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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What Does Renters Insurance Cover?

by Administrator 21. March 2016 11:22

Most landlords have an insurance policy to safeguard their property in case of any untoward incident or natural calamity. However, the landlord’s insurance policy does not provide any coverage for the personal possessions of a renter. This is the reason why it is imperative to buy a renters insurance policy.

Below is a list of different kind of coverage options provided under the renters insurance policy:

  • Personal property coverage: In this case, you will be offered coverage for your personal belongings if they are stolen or get destroyed in a fire, storm or any other calamity mentioned in the policy. This is crucial because you can easily repair/replace your damaged or stolen goods with the money provided by your insurer. However, you may need to take extended coverage for expensive items such as jewelry, silverware etc. Although extra coverage can increase your deductible, but insuring your expensive items is beneficial in the longer run.
  • Liability coverage: The provision of liability coverage given under a renters insurance policy will provide protection if you are sued by an outsider who is injured in your home. For instance, a guest can trip or fall while climbing the stairs in your home or injure himself with a faulty appliance. All the expenses associated with the case proceedings will be covered under the renters insurance policy.
  • Coverage for stuff stolen outside property: If your belongings get stolen outside the premises of your home, a renters insurance policy will provide you coverage. However, there may be limits to the amount of coverage provided and the areas where the policy will be applicable. 
  • Additional living expenses: A renters insurance policy will provide for all the living expenses in case there is a fire or water pipe burst that destroys your rental home. You will be paid all the expenses for the time period you have to stay elsewhere while your home is being repaired. This includes all the expenses including hotel bills.
  • Damage caused to someone else’s property: There can be an instance where you accidentally damage some other person’s property. For example: you could damage the plants in your neighbor’s yard while playing baseball in the street etc. In this case, your renters insurance policy will provide for the damage caused by you.

We, at Shawn Camp Insurance Agency, Inc., provide comprehensive renters insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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Renters Insurance Coverage Options In Killeen, TX

by Administrator 19. February 2016 08:09

When you rent a house in Killeen, TX, your landlord’s home insurance policy will not cover any damages to your belongings. Therefore, you need to have a renters insurance policy that provides suitable coverage in the event of unforeseen circumstances.

Among the various renters insurance contracts, the most popular one is termed as HO-4. It lists all the perils which are covered in your insurance policy. If a peril is not mentioned in HO-4, it means you will not be provided coverage for it. You will need to buy special add-ons known as endorsements for protecting your belongings from additional hazards.

The coverage options are listed below:

  • Protection for personal belongings: Personal property coverage includes protection in case of property damage due to fire or lightning, windstorm, smoke, vandalism, theft or unintentional discharge of water. You need to choose a dollar limit for getting coverage under this category. Personal items such as clothes, appliances, furniture etc. are included in the coverage. It is important to know the exact value of all your household items beforehand in order to get the requisite coverage without underestimating the actual worth of your possessions.
  • Personal liability coverage: In this case too, you will be required to choose an upper limit for the coverage. Personal liability coverage provides protection if you are held responsible for causing accidental bodily injury or property damage that occurs on or outside the property. The only exceptions in this category are the injuries related to automobiles.
  • Special coverages: Endorsements or add-ons are special coverage options that need to be added to your standard insurance policy to provide extra protection for high-value items and various types of scams.
    • Limits on valuable items: All insurance policies have dollar limits for valuable items such as jewelry, fur etc. It is important to mention these at the time of buying a particular renters insurance policy so that you get the required additional coverage.
    • Water/sewer backup: This add-on will help in cleaning up, repairing or replacing your damaged household items in the event of a malfunctioning sewer pipe or sump pump causing havoc in your house.
    • Identity fraud: This special coverage will aid in regaining your credit status if you get trapped in an identity theft.

We, at Shawn Camp Insurance Agency, Inc. offer various renters insurance plans in Killeen, TX. For more information about the coverage options, you can call at (254) 526 – 0535.

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How To Decide On Your Home Insurance Deductible

by Administrator 5. February 2016 09:17

Deductible is the amount of money that the homeowner needs pay before the insurance company pays the claim. While buying an insurance policy, home owners need to decide the amount of deductible. Though it may seem to be viable to pay a higher deductible to lower the monthly premiums, you must keep some important points in mind before taking this decision:

  • Look at your financial position: A higher deductible upfront will reduce your monthly payout but may leave you with little money in case of a contingency which requires immediate payout. Similarly you may decide to agree on higher monthly premiums to save money at present. This decision should be taken keeping your future and present financial liabilities in mind.
  • Amount of the deductible: It may be tempting to pay a higher deductible in order to avail discounts but be sure that you have enough savings to pay for that amount if required.
  • Save insurance claim for bigger problems: You should not make frequent claims on your home insurance for minor repair expenses. This way you can make considerable savings on your deductible. Therefore, you should save the claims for bigger troubles and bear the little expenses yourself.
  • Do calculations: Calculate 1% of your home value and see if this amount is something you can easily afford. Similarly see 2% figure and gauge your ability to pay. Also calculate how much you can save per month if you opt for a higher deductible. Compare these amounts so that you are able to make an informed decision.
  • Know the frequency: An average homeowner makes a home insurance claim once every eight to ten years. Keep this statistic in mind and save up on monthly premiums to add to your emergency fund. This way you will have a corpus when the need actually arises.

Be aware of your risk management capacity and the budget of your home before deciding on the deductible amount. An insurance agent can help you in all calculations and also recommend the an ideal deductible amount according to your requirements.
We, at Shawn Camp Insurance Agency, Inc., offer affordable home insurance in Killeen, TX. For more information, you can call at (254) 526 – 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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Renters Insurance In Killeen: A Checklist For Tenants

by Administrator 20. January 2016 10:08

If you live in a rental property in Killeen, you need to protect your belongings with a renters insurance policy. Your landlord’s insurance policy is for the protection of the home and does not offer any financial coverage for your possessions. Therefore, get in touch with an insurance agent to get renters insurance for:

  • Personal possessions
  • Liability protection
  • Additional living expenses

Following is a checklist that can help you choose the right insurance policy:

  • Coverage Required: You need to have enough insurance that can provide coverage for most of your personal possessions in case of a theft, fire or any other disaster. Create a detailed list of all the items that you have in the house and write down their estimated value. This will help to determine how much insurance you require.
  • Disasters Included In Policy: Renters insurance will provide protection for any loss caused by fire, theft, sabotage, lightning, windstorm and water damage. Most renters insurance policies do not provide protection in case of a flood or earthquake. So, make sure you discuss your requirements with your insurance agent.
  • Liability Protection: It provides coverage against lawsuits in instances of bodily injury or damage done to the property by you, your family members or pets. You will get financial support for defending yourself in the court as well as paying for the damages as ordered by the court verdict. See whether your policy provides sufficient liability coverage.
  • Coverage Provided For Damage Caused By Disaster: If a situation arises where your home in Killeen is completely damaged due to a disaster and you are required to stay somewhere else, renters insurance provides you compensation for Additional Living Expenses (ALE). All your hotel expenses, restaurant meal bills, temporary rental expenses and all other costs incurred while your home is being re-built are covered in ALE. However, there is a certain upper limit in this coverage and it may differ from one insurance provider to the other.
  • Coverage Provide During Vacation: Renters insurance policies also provide coverage for your possessions if they are damaged outside the house. For example: your belongings could be stolen from your car when you are out on a vacation. Some companies set a limit on the off-premises coverage and provide only a certain percentage of the amount of your personal possessions insurance.
  • Discounts Available: You can ask for discounts on renters insurance if you have installed a security system, smoke detectors or other safety features in your home. You can also consider bundling your policies to be eligible for discounts.

We, at Shawn Camp Insurance Agency, Inc., offer affordable renters insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535.

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Why Do You Need Renters Insurance In Killeen?

by Administrator 6. January 2016 13:48

If you are considering moving into a rented house in Killeen, make sure you also buy a renters insurance policy as it may help you in the long run. Many people think that in case of any ill happening, they will be covered under the landlord’s insurance policy but this is not true. Their policy covers the structure of the house and not your belongings inside it.

Following are some benefits of investing in a renter policy:

  • Protects your personal belongings: All the stuff in the house is covered under this policy and thus if there is any damage, you can claim it. You must evaluate all the causes of damage covered under a particular policy so you can estimate how safe you are in case of losses. Natural calamities like earthquake and floods are usually not included and if you live in an area prone to such disasters, buy a separate policy for such damages.
  • The landlord’s requirement: Some landlords insist that their tenants buy such a policy as it assures them that their property will be in safe hands. Sometimes the landlord’s insurers also ask for such a policy so some part of the damage claim can be transferred on to the renter’s policy.
  • It is not very costly: There are many insurance carriers in Texas, hence buying a renters policy may not be a costly hit on your pocket. Also, there are many things which can be deducted from the policy based on your needs, hence making renters insurance more economical.
  • Liability coverage: This means that if a guest is harmed at your property, the insurance will cover legal and medical expenses for him. This will safeguard you in case of any injury or unfortunate accident in your rented home.
  • Cover against all losses: You can also consider including travel time while covering various items. These items could also be inside your car and if damaged, they will be liable for claim. This protects you in case of theft etc. Check with your insurers about other such options before making a decision.
  • Additional living expenses: Some policies also cover the expenses that you may incur in case you need to stay outside the premises due to incidents like fire, break down etc. All the temporary expenses like food, hotel etc. will be part of the policy.

We, at Shawn Camp Insurance Agency, Inc. provide affordable renters insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535.

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Guide To Buying Home Insurance In Killeen

by Administrator 21. December 2015 07:46

Before buying a homeowners insurance policy, simply reading the policy is not enough. It is necessary that you ask the questions which will not only make your purchase easy but also help you choose a plan which suits your particular needs. Here are some of the important aspects you need to inquire from your insurance agent:

  • Market or Replacement value: Ask whether the insurance company will give you the sale price of your house in case it is completely damaged or if they will pay the amount required to rebuild the house.
  • Personal property coverage: You must know the total amount your insurance policy will pay if your personal assets like clothing, artifacts, furniture etc. are damaged or stolen from the property. This particularly seems necessary if you have expensive personal items like paintings or jewelry.
  • Protection clauses: There is a liability portion in your policy which covers court settlements and expenses in case someone is harmed on your property or your family member has caused any damage to someone physically or to their property. This also covers your pets. Ask what portion of your policy is reserved specifically for this purpose.
  • Extent of deductibles: Deductibles refers to the amount that you will have to pay in case of any damages. The rest of the amount is paid by the insurance company, up to the limits of your insurance policy. The higher the deductible, lower are the monthly premiums but do keep this amount to a limit that you can afford.
  • Natural calamities: You must ask if natural calamities like earthquake and floods are covered in the policy. Most policies exclude damages from these perils and in case you live in an area prone to such disasters, it is advised that you ask for its inclusion.
  • Additional Living Expense: If, for some reason, you are not able to live in your current house due to complete loss of property etc. your policy may cover the expenses that you will incur on rent, hotel bills, meals etc. This is provided if the cause of inability to stay in the house is covered under insurance.
  • Claim recovery time: You must also ask how much time the company usually takes to pay a claim. For this, it is advised to conduct a proper research to determine the reputation of the company and check if it approves the claims in a timely manner.
  • Ask for discounts: Do not be hesitant to ask for any discounts. There is so much competition in the market that a good insurance company will definitely offer you a discount if they truly value an association with you.

We, at Shawn Camp Insurance Agency, Inc., offer affordable home insurance in Killeen, TX. For more information or request a quote, feel free to call us at (254) 526 – 0535.

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Tips To Save On Home Insurance In Killeen

by Administrator 7. December 2015 14:04

Home insurance is a necessity to safeguard your hard-earned property. A good home insurance policy provides you adequate coverage and gives financial support in case of an unforeseen crisis. With so many insurance companies in Killeen, TX offering extensive coverage options, it is important to perform comprehensive research before finalizing a particular one for your home insurance.

Once you decide to buy home insurance, it is imperative to know about the different ways in which you can save money. Some of these are:

  • Multiple insurance policies: It is a wise decision to buy multiple policies from the same insurance agency so that you can save money. Many insurance agencies offer multi-policy discounts to attract more customers. For instance, you can buy auto insurance and home insurance from the same provider.
  • Pay a higher deductible: In simple terms, your deductible is the amount you have to pay for a covered claim before you receive insurance benefits. Raising your deductible can actually help you save a lot on your premium every year. The higher amount you pay as deductible, the lesser you will have to pay for your policy. For example: you pay $250 as deductible and file a claim of $1000 in damage to your home. In this case, you will only have to pay only the first $250 and your insurer will pay the balance amount of $750.
  • Location: Your place of residence is an important factor in determining your insurance policy premium. For instance, if you live in a safe neighborhood with minimal chances of theft, you may have to pay less for your home insurance. On the other hand, if you live in an area that is prone to storms and flooding or is unsafe, you will require additional coverage that can cause a dent in your pocket. So, make sure you buy a home in a safe location with all the amenities nearby.
  • Maintain good credit: Most of the customers are not aware about the fact that many insurers favor a good credit history when it comes to deciding the premium for a home loan policy. Insurers have established that policyholders with poor credit are likely to make more claims. So they increase your rate to adjust for this potential threat that can occur in the future. If you maintain a good credit score, the insurance agency may cut down on the premium costs significantly. 

We, at Shawn Camp Insurance Agency, Inc., offer affordable home insurance in Killeen, TX. For details, you can call at (254) 526 – 0535 or visit 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.

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