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D & E Insurance Agency

1903 N Main St,
Muskogee, OK 74401

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Do I Need Renters Insurance If My Apartment Complex Has Insurance?

If your complex has a communal insurance policy for all of the tenants, then you may not need to get renters insurance. However, if your complex doesn’t have a communal policy, then it is vital that you get renters insurance to protect your belongings in the case that something happens. 

For more details and help, confer with D & E Insurance Agency, the agency serving the greater Muskogee, OK community. 

Renters Insurance in Apartment Complex: What You Need To Know

If your apartment complex has a full-service building insurance program, you do not need to purchase renters insurance. However, if your complex’s building insurance is not comprehensive, you will need to purchase additional comprehensive coverage. 

If you have a problem with your apartment complex’s building insurance, first identify the issue and then work with your insurance adjuster to work out a solution. Rental insurance can help protect your investment if you’re renting an entire apartment to someone else. 

Many apartment buildings have an option that provides renters insurance as a part of their regular insurance package. If you’re renting an entire building, you can choose to add renters insurance as an option. 

The reason you may need the renters insurance is because the landlord’s insurance will only cover damage caused by other tenants within the building. For example, if your washer floods and damages your apartment building’s common areas and other people’s apartments as well, then the landlord’s insurance will pay for that damage. 

If there is a storm outside of the apartment complex and lightning strikes one of your appliances causing it to burst into flames and burn down your entire apartment building (and everything inside of it), then no one would be able to help pay for these damages. That’s because they would not be covered by anyone else’s insurance. 

The only way they could be paid for would be through an umbrella policy on top of an individual renters policy but this can cost thousands of dollars per year. It isn’t usually worth it unless you have extremely valuable items such as jewelry or art in addition to expensive electronics. 

Contact Us Today

If your building has an insurance policy, but you aren’t sure whether it has the proper coverage, you can get a list of the building’s policies and contact the building owner directly. If your apartment complex has insurance, you might not need to take out the full insurance policy. 

However, if your insurance covers only a portion of the costs, ensure to include what’s not covered in your premiums. The complex’s insurance only cover the common areas, such as the pool, gym and hallways. For more inquiries, give us a call at D & E Insurance Agency in Muskogee, OK.

Why You Need Renter’s Insurance in Muskogee OK

You don’t own your home. But that doesn’t mean you can’t protect your belongings. Renter’s insurance is a type of insurance policy that provides coverage for your possessions if they are damaged or stolen while you are renting. While it is not mandatory to have renter’s insurance in Muskogee, OK, it is highly advisable, especially if you have a lot of valuable belongings.

Who Needs Renter’s Insurance?

Almost everyone who rents an apartment or house should have renter’s insurance. The policy provides coverage for your possessions in the event of damage or theft, which can be extremely helpful if you have many valuable items. A D & E Insurance Agency representative can help you determine if renter’s insurance is the right choice for you.

What Does Renter’s Insurance Cover?

Renter’s insurance covers the replacement cost of your belongings if they are damaged or stolen. The policy also typically includes liability coverage if there’s an injury on the property you rent.

Although your landlord’s insurance policy covers the building, it does not cover your belongings or provides liability coverage for you. That’s why renter’s insurance is so important. It fills in the gaps and protects you and your belongings.

How Much Renter’s Insurance Do I Need?

The amount of renter’s insurance you need depends on the value of your belongings. Most policies provide $25,000 to $50,000 in coverage, but you may need more or less, depending on your situation.

Why Is Renter’s Insurance Important?

Even if you don’t have many valuable belongings, renter’s insurance is still good. The policy can help if you’re displaced because of an apartment fire or other disaster. It can also cover the cost of temporary housing and other related expenses.

A D & E Insurance Agency representative can help you determine how much coverage you need in Muskogee, OK.

Renters insurance FAQs

When you are a renter in Muskogee, OK, you may wonder if there is any need for you to have renters insurance. At D & E Insurance Agency we put the needs of our clients first. We work for you, not the insurance carriers. Making sure you are satisfied with the coverage we find for you is our primary goal. 

Doesn’t my landlord have insurance?

Your landlord probably does have insurance to protect the building that they own. Their building insurance, however, does not protect your possessions or offer your liability coverage if someone is injured in your rental. They are only protecting their own property. 

Does renters insurance cover my dog?

Yes, renters insurance covers your dog as long as it is not one of the excluded breeds. You should call your agent and check what breeds are excluded by your carrier. 

Will I be covered if someone gets hurt at my rental?

Yes, you will, renters insurance has liability coverage. It will pay for medical expenses and, if you are sued, a judgment up to the limit of your policy. It will also pay legal fees. 

What kind of content coverage does rental insurance have?

You have a choice when you get a rental insurance policy. Content coverage comes in two types; the value of your content today with depreciation included, or what it will actually cost to replace it. 

What is loss of use coverage?

In the event your rental is rendered uninhabitable by a covered hazard, you will need a place to stay. Loss of use coverage will pay for a hotel and then for a temporary rental until you can move back home. It may even pay for some meals. 

Contact D & E Insurance Agency in Muskogee, OK for all your insurance needs including renters insurance. 

How to Make a Renter’s Insurance Claim in Oklahoma

When you are a renter in Oklahoma, you will be assuming some risks in and around your home. Your renter’s insurance is designed to protect you financially from those risks.

You may have exposed yourself to financial liabilities already, without even knowing it. That is what renters’ insurance is for. At D & E Insurance Agency, we want Muskogee, OK residents to know how and when to make a claim on their renters’ insurance in Oklahoma.

What Information Do You Need?

When you have renters’ insurance, there are a number of things that you can make a claim for. Before you call your insurance company with a claim, have as much documentation on hand as you can. 

That may be a police report, hospital or doctor expenses, or you may just need a home inventory if the claim is for property loss.

When you get your renters’ insurance, take a video and photos of the layout of your home. You want to also take a video and photos of the layout of your home when you are making an insurance claim.

If you don’t have that, a list of everything that you have lost and its value is the next piece of documentation that you need. 

When you have the documentation that you need, make the call to your insurance company.

How to Handle Your Renters’ Insurance Claim

To make a renters’ insurance claim, take your documentation with you to the phone call. Tell them what happened, and they will instruct you on the next step.

In order to ensure that your claim is handled quickly, return every phone call quickly, and handle the forms quickly as well. Always be completely honest with your insurance company. They may have investigators looking into your problem, and your claim could be denied. 

Follow the instructions of your insurance company to the letter. Your claim will be processed that much faster.

Get a Quote

Filing a claim with your renters’ insurance company is easy, and it will make you glad that you have renters’ insurance in Oklahoma. At D & E Insurance Agency, we want Muskogee, OK renters to feel secure. Call us for a quote today.

Renters insurance FAQs

When you are a renter, you may feel as if you don’t have a lot to lose if your apartment is destroyed, or maybe you never think about that possibility. A recent study showed that more than 55% of renters do not have renters insurance. If you are like most people, almost everything you own is in your home, and if it were destroyed, you would need to start from scratch. This is much more expensive than you might think. At D & E Insurance Agency in Muskogee, OK, we are here to show you the benefits of renters insurance and why you should have it. 

Doesn’t my landlord have insurance?

It is likely your landlord does have insurance to cover their building. Their insurance, however, offers no protection for your personal possessions. You need to insure your property yourself with renters insurance. 

If someone gets hurt at my rental, am I responsible?

You may be. It depends on the type of injury and if you were negligent in any way. If they decide to sue, you could end up with not only a judgment against you, but you could have to pay for legal fees. Renters insurance includes liability coverage that can help pay for a judgment against you.

Does renters insurance cover property away from home?

Yes, if you are traveling, you still have coverage. It can be when you travel not only in your car but on a plane, train or bus. If something is stolen, you are covered no matter where you are or lost or damaged. 

What type of property coverage should I choose?

You have two options: actual cash value and replacement cost. It is less expensive to choose actual cash value, but you will only receive what the item is valued at today with depreciation. With replacement cost, you would receive the amount actually to replace the item at today’s prices.

Contact D & E Insurance Agency in Muskogee, OK for all your renter’s insurance needs. 

Partner Carriers

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