Does Your Roommate Need Renters Insurance Too?

Let’s start by covering a little background on renters insurance.  Renters Insurance is very important and a must for anyone living in a rental.  A landlord will have insurance on their building, but your stuff inside the building is the problem.  The landlord has no insurable interest in your belongings, meaning their coverage would not cover any of your stuff.  Renters insurance is coverage for your personal property.  The limit amount depends on how much contents coverage you want covered or need. Another part to renters insurance is it provides personal liability coverage.  This would provide coverage if you are found liable with many situations.  For example someone falls off your balcony, trips over a piece of furniture or while running you trip up a bicyclist.  It provides coverage at your home and also wherever you are.  If you have renters insurance you have coverage to your policy limits.  

Now back to your roommate.  Possibly some companies will allow you and one other roommate to be on the same policy.  If they are on the same policy with you there can be plenty of confusion. Trying to figure out how much to cover for both of your belongs and who has what when a claim is made. There is also the situation that if your roommate makes a claim on your policy it will tarnish your claim history possibly raising future insurance costs.  The other option is that each of you get your own renters insurance policy.  This is usually the best and our recommendation.  So let your roommate get their own renters insurance and both of you will have the protection you need for now and in the future. 

If you would like to discuss any of your insurance needs and questions, please contact one of associates by calling 517-337-6000 or visiting our website www.hksagency.com.

When Saving Money is NOT a Value

The old saying “You get what you pay for” is universally used, yet when it comes to insurance many people shopping want the cheapest insurance. There are numerous factors that go into tailoring the right policy for each individual. A few important things to consider when looking are customer service, quality product and industry knowledge. When it comes to making a claim you will want to be on the phone working through the claim with our office and not waiting on hold hoping your not just another number to deal with. You don’t have to go insurance crazy and cover everything in your house right down to your underwear.  It is better to understand the limits and coverage’s that will protect you now and in the future.  Saving a little money upfront might cost you a lot more in the end.

If you would like to discuss any of your insurance needs and questions, please contact one of associates by calling 517-337-6000 or visiting our website www.hksagency.com.

Daylight Savings Time

Daylight Savings Time

Okay it is about that time of year, don’t forget to turn your clocks forward one hour before going to bed on Saturday, March 9, 2019.  And I know you have all heard it but don’t forget to test, check and change the batteries in your smoke detectors.  This is a very important thing because if your home catches fire it is the first line of defense to notify anyone in the home that there is a problem.  Smoke Alarms help to reduce fire deaths and injuries every day.