We often receive calls from people in Fishers or Indianapolis looking for renters insurance with $100,000 liability coverage. It’s not unusual for those callers to wonder why they need that coverage. Usually it’s because their apartment complex is requiring them to carry renters insurance. This blog will discuss why.

Renters Insurance with $100,000 Liability

Renters Insurance

Apartment complexes are smart to require their tenants to have renters insurance.  If that tenant does something that causes damage, the tenant’s policy will cover the damage.  For example, if someone falls asleep while smoking and causes a fire, their renters policy will cover the damage.  If the tenant didn’t have insurance, they may not be able to pay for the damages, and the apartment complex would have to use its insurance.

Liability coverage provides protection in the event that you’re found legally liable for damages.  It protects you in the event you are sued for many situations other than when you’re driving (in which case your auto insurance may cover you).

Renters Insurance with $100,000 Liability Coverage

Why do apartment complexes require $100,000 of liability coverage?  That’s a good question.  Most renters policies start with a minimum limit of $100,000.  They can go up from there, sometimes as high as $1 million.  The liability portion of a renters policy is relatively inexpensive.  Our independent agency usually offers $300,000 for just a few more dollars a year.  It provides much more protection to our customers.

Renters insurance is pretty cheap for all of the protection it provides.  A good policy can usually be purchased for less than $20 per month.  It will provide liability coverage as well as protection for your personal property (aka “your stuff”) – your clothes, furniture, electronics, and other personal possessions.

We find that if you purchase your renters insurance from the same company as you have your auto insurance with, you can save a lot of money.  Sometimes you can get both polices for the same price as just your auto insurance in Fishers.

If you’d like to discuss your renters insurance with $100000 liability coverage, please call us at 317-644-1770.