Insurance

Important Issues to Remember When Purchasing Renters’ Insurance

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Most of the tenants who live in apartments tend to assume that their landlord’s insurance will cover their belongings in case a disaster strikes. However, this isn’t the case since a homeowners’ insurance policy doesn’t cover tenants. Renters’ insurance is one of the most valuable and overlooked insurance policies when it comes to financial protection.

If you’re a renter living on a budget trying to save up for your own home, it may be difficult to replace everything that you own in case something happens. Thompson Insurance Services bring you customer-friendly renters’ insurance in the Dallas, TX area. Here are a few things you need to remember when purchasing a renters’ insurance policy.

It Pays for Housing When Your Apartment Is Unlivable

Sometimes, certain events can happen to render your apartment unlivable. Your renters’ policy will always pay for the loss of your apartment. This means that you can be facilitated to live in a hotel or any other place that you consider safe if your apartment is destroyed by a storm, fire, or any other covered natural disaster.

It Protects Your Personal Property

If you have valuables in your apartment, then a standard renters’ policy will safeguard them against theft and damage. It covers your property both onsite and offsite meaning that your personal belongings are still covered even when you’re traveling to other cities or countries. For instance, your provider will compensate you if you leave your laptop in your car and its stolen.

It’s Often Discounted

Most insurance companies in the Dallas, TX area, such as Thompson Insurance Services, often offer discounts on renters’ insurance policies. This can be done if you choose to bundle your coverage from the same provider who carries your auto, life, or any other policy.

Covers Personal Liability and Hospital Bills

A standard renters’ insurance policy will cover costs relating to a claim filed against you when a third party injures himself/herself in your apartment. Your policy will also cover medical bills arising out of such cases.

Contact us today for a renters’ insurance policy and to speak with an agent.

 

What You Need to Know About Umbrella Insurance

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At first glance, umbrella insurance may sound complicated. In fact, the idea behind umbrella insurance is actually quite simple. First of all, umbrella insurance is a supplement to the basic liability policies that you may have for renters insurance, homeowners insurance, or auto insurance.

Umbrella policies are supplements to these types of insurance because they go above and beyond the coverage limits of them. The core purpose behind umbrella insurance is to protect you from events that are completely unforeseen. Most of all, umbrella insurance offers great liability coverage in the event that another party sues you for damages because of a personal injury or property damage situation.

When Would Umbrella Insurance Come Into Play?

Most often, you’ll see umbrella insurance come into play when someone sues you for damages. For example, let’s say that someone delivering a package to your home slips on ice outside your house and is seriously injured. They may see you for liability because of their slip and fall accident.

If you are found liable and are required to pay these damages, your liability coverage will kick in and can cover you. On the other hand, if you plan on bringing your case to court and you need a legal defense to defend yourself against a liability lawsuit, umbrella insurance can also cover these legal costs as well.

Contact Thompson Insurance Services for Help With Umbrella Insurance

At Thompson Insurance Services, we can help you find the umbrella insurance plan you’ve been looking for. To start looking at the umbrella insurance plan options available, please give us a call at your earliest convenience. We also invite you to stop by one of our local offices to sit down with an agent and discuss your options in person. Hope to see you soon!