Georgia Renters Insurance
If you rent your home, condo, or apartment in Georgia, beware! You may be required to purchase a Georgia renters insurance policy. Many landowners in the state of Georgia are now requiring their tenants to purchase Georgia renters insurance to protect the landowner from damages that the tenants may do to the property.
If your landlord requires you to have renters insurance, don’t panic. Getting coverage is quite easy, and surprisingly affordable. A typical renters insurance policy in Georgia costs less than $200 per year, and insures you for up to about $20,000. The landowners aren’t the only ones who benefit from your renters insurance either!
It is true that if you damage the rented property in anyway, your renters insurance will pay for the damages. This includes damage caused by you, your visitors, your spouse, and your relatives that live in the home, your children, and even your pets. If Grandma throws a lamp at Grandpas head, and breaks a window and scars the wall in the process – don’t worry, you are covered!
Renters insurance covers you for all sorts of things. If the place burns to the ground, your policy will either pay you the cash value of your covered personal property, or the cost of replacing your personal property at today’s prices. Of course, there are limits that the insurance company specifies. Most policies won’t pay out more than $20,000 per incident, and coverage amounts are also specified for certain covered items.
So, if your landlord informs you that he or she is now requiring you to carry Georgia renters insurance, don’t sweat it. This is coverage that you really needed anyway, and your landlord is just forcing you to do something that you should have already done for yourself. Most policies are quite affordable, and if scraping together the full yearly amount is a problem, most insurance agents will allow you to make monthly payments for your coverage. A $120 policy, which usually gives you $20,000 worth of coverage, should cost about ten dollars a month for one year. If you need to pay the policy premium off in six months, you would only pay $20 per month!
