The Advantages of Orlando Renters Insurance
The National Hurricane Center has been tracking a compilation of thunderstorms off the Florida coastline, which researchers claim have a high probability of forming into a tropical storm. Should a tropical storm system develop, the majority of the eastern seaboard could be facing a soggy Fourth of July weekend. As tropical storms threaten the east coast and the Sunshine State this summer preparation and safety are on the forefront of everyone’s mind.
Floridians are no strangers to the threats and devastation effects of tropical storm systems. Florida has been affected by seven of the ten most severe storm systems in recent history culminating in billions of dollars in damages and injuries. While not every storm is a hurricane, even seasonally heavy rains, strong winds and high tides can cause terrible property damage and complications for Floridians.
As an Orlando renter, your landlord’s insurance will not protect your personal property in the event of any incident, let alone a tropical storm. Landlord insurance is designed to protect the physical structures of a dwelling, such as windows, walls and the fixtures within. Even if the damage to your personal property is the result of a pipe burst or ceiling collapse, your landlord’s policy is unlikely to repay you for any damages to your personal belongings. The right renters insurance policy is one of the most strategic means of protecting the contents of your home. Unlike homeowners insurance, renters insurance often has built in safeguards to reimburse you for damaged and destroyed property from natural disasters. Orlando renters insurance can help replace items damaged by wind, hurricanes and earthquakes, theft and other unforeseen circumstances.
When choosing the right coverage, it is essential to understand that there are two ways in which to set up your policy, actual cash value and replacement cost coverage. A policy which stipulates actual cash value will reimburse the policy holder a depreciated value for their possession. This means that neither the full retail value of the product nor the cost to replace the item in the current market would be awarded to the policyholder. While these policies are less expensive, they offer less monetary compensation in the event of an emergency. Replacement cost coverage will often yield higher premiums for policy holders; however many believe the benefits outweigh the upfront costs. These policies secure Orlando renters the funds to replace lost, stolen, damaged and broken possessions taking into account the current market conditions.
Newman Crane is a local insurance provider who specialize in assessing the local risk exposures Central Florida residents face. If you have any questions about the best way to protect your belongings or are interesting in learning more about the benefits of renters insurance you should contact the Orlando renters insurance specialist today at (407) 859-3691.