Georgia Renters & Condominium Insurance
What is Renters Insurance?
If your home is not your own – meaning you rent the space you live in – you still need a type of homeowners insurance, referred to as renters insurance. This policy has many of the same features of the regular homeowners insurance; it just leaves out the coverage for the actual structure. Your landlord – the owner of the apartment, condo or home – purchases insurance to protect his interest in the property, which is the structure. His policy will not provide any coverage for your personal items – the things you moved into the unit.
You may not think you have enough things to insure, but look closely. If a fire destroyed your apartment, think about how much money it would take to replace every item in every drawer, your computer, electronics, books, clothes etc. Most people don’t realize how much they really have until it is too late.
Another important aspect of renters insurance is the personal liability. This gives you protection both at home and away from home for personal actions that might unintentionally damage property or hurt someone.
If you own a condominium and live there you need a policy that is different from the renters policy and the regular homeowners policy. Most condominiums in Georgia require that the association provide coverage for your unit as it was originally built; however if you have upgraded by adding hardwood floors, new carpet or granite countertops, for example, you need to have the building upgrades insured under your own condo policy. Condominium associations usually have the ability to assess the property owners for losses that might occur to the structure. You can add coverage to the condo policy to reimburse you for assessments that might be charged.
The good news is both renters and condo insurance is quite affordable. At Williams, Turner & Mathis we are not held captive to just one insurance company. With one call to us, we will research and compare multiple insurance companies to find you the best policy for your money. We take pride in finding you the credits you may be eligible for including a package credit for insuring your renters or condo insurance with the same company that insured your auto insurance.