Renters Insurance Lake Oswego

When you rent a home, condo, or apartment in Lake Oswego, or anywhere else in Oregon or Washington, you should consider renters insurance from Schmidt Insurance Group to protect your personal belongings. We know our Schmidt and make it easy to find the coverage you need!

What is Renters Insurance?

Many tenants believe that everything inside their rented homes is insured under the landlord’s insurance policy, but that policy only covers the building. What if your rented home is burglarized and some of your prized possessions are stolen? What if your possessions are damaged or destroyed by smoke from a fire?

Renters insurance protects the personal property (or contents) you keep inside your rented home, apartment, condo, or townhome from loss caused by damage or theft. This can include furniture, clothing, electronics, appliances, jewelry, art, collectibles, and other household goods. The policy also provides liability coverage to protect you financially in the event of visitor’s injuries or damage that you, your family members, and even your pets may cause on the premises.

How Does Renters Insurance Protect You?

Some people think that renters insurance is just another unnecessary expense every month. But, when you rent an apartment or a home, loss of or damage to your personal belongings and certain other liabilities only will be covered if you have a renters insurance policy that you, as a tenant, pay for. The policy will typically offer protection from:

Theft

Let’s say you have a prized collection of souvenir snow globes that have cost you quite a bit of money over the years. One day, your apartment is burglarized and the thief swipes the whole collection right out of its lighted display case.

If you have a renters insurance policy, it will help reimburse you for some or all of the cost to replace the stolen items. It can also protect you in the event of theft outside of your home. For example, let’s say you’re traveling to the annual snow globe collectors’ show and someone steals the bag carrying your collection out of your hotel room. Your renters insurance would help you replace your stolen valuables, even when you’re away from home.

Damage

If the kitchen in your rented condo catches on fire and destroys some of your possessions (including those snow globes) and you’re unable to live there until the damage is repaired, you may need somewhere else to stay.

Not only will your renters insurance help you replace your belongings that were damaged or lost, but many renters insurance policies also include “loss of use” coverage that provides financial assistance for temporary living expenses such as moving costs, hotel expenses, meals, and even the cost of boarding your pets.

Damage You Caused

Here is where the liability coverage portion of your renters insurance policy kicks in. Let’s say you and your rambunctious Dachshund puppy, Fritz, pay a visit to your neighbor. While there, you accidentally break a delicate Waterford crystal wine glass and Fritz damages the neighbor’s expensive sofa. Your renters insurance will help you reimburse the neighbor for the wine glass and the sofa.

Visitors’ Injuries

If you have renters liability insurance and your nanny falls down your stairs because of poor lighting, he or she would be compensated for injuries up to the limits in your policy. If the nanny sues you, your coverage may also pay for your lawyer and court fees. Though this may seem unlikely, costs for extensive medical care could bankrupt you if you don’t have insurance to help you pay.

Protect what’s important to you with renters insurance from Schmidt Insurance Group in Lake Oswego, Oregon. Our agents know their Schmidt when it comes to insurance and can help you get the coverage you need. Stop by today and introduce yourself, or reach out to us at (503) 206-0881 for more information.