How to get proof of renters insurance

What is renters insurance?

If you rent property, it’s always a good idea to purchase renters insurance to cover the damage or loss of your personal property. The landlord is rarely liable for your personal belongings; therefore, if there was ever a fire in your rental property, the landlord is only liable for the cost of the building damaged, not your damaged personal belongings. The reason landlords require you to get renters insurance is mainly to protect you and themselves. Let us fill you in about getting proof of renters insurance!

What does renters insurance cover?

Renters insurance policy protects your personal property and belongings. You will generally be reimbursed for damage caused by:
– Fire and lightning
– Windstorm and hail
– Smoke damage
– Vandalism
– Theft
– Damage from steam or water heating appliances
– Leakage or overflow of water or steam
– Short-circuit damage caused by electrical appliances
– Explosions
– Damage by vehicle (not your own)
– Damage by aircraft
– Riots
– Volcanic eruption
– Falling objects
– Weight of snow, ice, sleet
– Freezing of plumbing, heating, air conditioning

If your property becomes uninhabitable due to a listed covered peril, renters insurance can pay for your temporary living expenses. Depending on your policy, some renters insurance will cover incidentals as well.

Certain renters insurance policies will cover incidentals as well. For example, if your food goes bad after your power went out and your fridge stopped working, your insurance company will cover the cost of your wasted food, depending on your policy.

Renters insurance can even cover your belongings if damaged or stolen whilst not on your property. For example, if your laptop gets stolen at an airport, your insurance company can reimburse you for your belongings, depending on your policy.

Renters insurance can additionally cover personal liability on and off your property. This means if you cause any damage to anyone else’s property (depending on the extent of the damage and cost), your policy can reimburse the majority of the bill. Liability insurance can also cover your pets, meaning if your dog injures someone else, your policy can aid with paying medical bills.

Out of all insurance policies, renters insurance is on the cheaper side and is very useful as you’d be constantly protecting your items and personal liability.

Many landlords require renters insurance policy standards, but some may also ask for proof or renters insurance purchase.

Why do I need proof of renters insurance?

Proof of insurance can assure landlords that you’ve signed up for renters insurance covered as outlined in your lease. Some landlords can be happy with a verbal confirmation.

Physical evidence of proof of insurance can also come in handy in case of incidents, as your landlord would be aware of your policy.

What is proof of renters insurance?

Proof of insurance is physical evidence that you’re maintaining a renters insurance policy. The proof of policy will display you have an active policy with details of the coverage. There are many ways to obtaining physical proof, contact your insurance company for more details.

How to prove you have renters insurance

If your landlord is requiring proof of your insurance policy coverage, then you might need to ask your landlord about how they’d want the proof presented. This process can all be conducted prior to signing your lease.

Ways to prove you’re enrolled in renters insurance:

Add your landlord as an additional interested party
Some landlords may require being added to your policy as an additional interested party or party of interest. Landlords may require this, as additional interested parties are usually notified of any changes or cancellations done to your policy.

You can easily add your landlord as an additional interested party either over the phone or online. Adding your landlord as an additional interested party will not lend them any coverage. Due to them not receiving any coverage, your premium will also not increase with adding your landlord. They also cannot make any payments on your behalf.

A copy of your declarations page
The declarations page is usually the first page of your policy that contains your details, all relevant information about your policy, the amount of coverage, current status of enrolment, and expiration. The declarations page acts as an invoice for your insurance purchase as it also includes your policy number and insurance agent name.

You can simply obtain a copy of your declarations page from your insurance company, in case of needing to show relevant parties your proof of purchase.

Digital Proof
Many insurance companies give you the option of digitally maintaining your declarations page through email. This allows you to easily email your landlord a copy of your page, or you could also print it off if they request a physical copy.

Contact a representative
Many insurance companies can also provide you with a representative to contact your landlord on your behalf. The representative can confirm your current status with your insurance policy and provide further details of your coverage to your landlord either over the phone or through a signed letter.

How long does it take to get renters insurance?

Compared to other types of insurance, renters insurance is rather easy to obtain and typically has no waiting time. You can either purchase renters insurance online or in person.

You may need to provide some important information prior to purchasing your policy. You’ll most likely need to provide the following details about your residence:
– Type of residence
– Location
– Personal vs. business use
– Pets
– Any previous damage to the building and any previous claims filed

You can purchase additional coverage to protect yourself from rare events such as identity theft or forgery. Additionally, some companies may give you a discount for security measures already taken on your property, such as burglar alarms and smoke detectors.

When purchasing your rental insurance policy, you will most likely have the option to control the effective start date. This can benefit you in case you’re moving on a later date. Therefore, you could also purchase your policy and provide proof of purchase to your landlord on the same day.

Did you enjoy reading this article? Tippla is here to give you all the advice you need on renters insurance! Read more here!