• Cornerstone Insurance

Renters Insurance Simplified

Are you one of the 37 percent of renters who have a renters insurance policy? Whether your rental agreement requires it or you make the choice to protect the contents of your rental property, this type of policy can provide peace of mind. It can come in handy if you face unexpected situations, like theft or fire, or if an individual is injured while in your home.

But do you fully understand what the policy covers and what to expect should you file a claim? Here's a breakdown of a few important points.


Replacement Cost Value vs. Actual Cash Value There are two choices when it comes to how renters insurance values belongings. Replacement cost valuedetermines the amount paid out for a claim based on the present-day cost of buying the same item. Other policies may use actual cash value, which takes into account depreciation due to normal wear and tear. This type of coverage will pay out less than current market value.


Deductibles A deductible is an out-of-pocket amount a policyholder is responsible for when a claim is filed. In general, the higher the deductible, the lower the monthly insurance premium. Once the deductible is met, the insurance company handles the remaining cost.


Discounts Most insurance companies offer discounts if you bundle renters insurance with other policies, such as auto insurance. Safety equipment, like fire alarms and security systems, may result in a reduced rate. Age, good credit and a claim-free history are other factors that insurance companies may consider for discounts.


Liability Protection Most renters insurance policies include some degree of liability coverage, which helps protect the policyholder from out-of-pocket expenses if an individual has an accident or is injured in your home. For renters who want extra protection, a personal umbrella policy, otherwise known as umbrella liability insurance, may be worth looking into. It can provide further liability coverage beyond the limits of regular policies.

Let's Connect.

Get in touch today to allow our knowledgeable staff to work to get you the coverage you need while saving you money.

Independent Insurance Agency

Tuttle Office:

Physical Address:

304 W. Main  Tuttle, OK 73089

Mailing:

P.O. Box 1075  Tuttle, OK 73089

Telephone:

(405) 381-3371

Fax: 

(855) 381-3371

Monday-Thursday: 

8:00 am-4:30 pm

Friday:

8:00 am-3:00 pm

Kingfisher Office:

Physical Address:

922 South Main Kingfisher, OK 73750

Mailing:

Kingfisher, OK 73750

Telephone:

(405) 375-7262

Fax: 

(855) 381-3371

Monday-Thursday: 

8:00 am-4:30 pm

Friday:

8:00 am-3:00 pm

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