Should renters have an inventory of their personal property?

Posted on May 30, 2025May 28, 2025 by admin

As a renter, you might be among the many who believe they don’t need or can’t afford renters’ insurance. However, both assumptions are incorrect. If you think your landlord’s insurance covers you, think again; it doesn’t. Can you afford to lose everything you own? Probably not. At AW Burchell Agency Inc. in New York, we can show you options to protect your property without straining your budget.

If your rental is damaged and your property along with it, would you be able to remember everything you had before the damage? Most people are unaware of the extent to which they have accumulated possessions over time.

Creating an Inventory

Grab a pad and pen and bring along your phone to take pictures. Go through the rooms of your rental and document all the items you see. Open drawers, closets, and cupboards to find everything. Be as detailed as you can. For electronics, please provide the make, model, and serial number. Attach any receipts or sales slips that you have for your property.

Take pictures in every room, especially highlighting any high-value items. Also, provide quantities of items if there is more than one. The more detail you provide, the easier it will be if you need to make a claim.

Storing Your Inventory

The inventory needs to be stored away from your rental. Uploading a copy to the cloud is a good way to ensure you can access it, regardless of where you end up after your rental is damaged. Place the original in a fire and water-safe container.

Contact AW Burchell Agency Inc. in New York to learn more about how you can benefit from renters’ insurance and protect all the personal property you have acquired. Give us a call or reach out through our website.

What is not covered by Renters Insurance

Posted on July 30, 2024July 30, 2024 by admin

While there’s a common misconception amongst first-time renters that a renter’s insurance policy is the same as a homeowner’s, the truth is that these insurance forms offer different coverage levels. This can be a complex area to navigate, which is why the AW Burchell Agency Inc. team in New York is dedicated to educating consumers about their renter’s insurance options. We aim to assist in choosing the best coverage to protect their finances from unexpected events.

Typically, renter’s insurance covers the replacement of your belongings after a deductible up to the limit set in the policy. It also covers any additional living expenses while you’re displaced from your home after a covered loss.

Further, a renter’s policy offers financial protection in case an incident that started on your property spreads to a neighboring property and causes damage. It also covers medical expenses and legal fees if someone gets injured at your residence.

What Isn’t Covered By a Renter’s Insurance Policy?

It’s important to note that a renter’s insurance policy conventionally covers windstorms, fires, explosions, theft, lightning, and vandalism. However, a standard policy does not cover floods, earthquakes, mold, bedbugs, or damage to the exterior of a home or apartment building.

Also, a renter’s policy does not include coverage for a building’s structure. That type of coverage is usually included in the landlord’s insurance policy. However, the landlord’s policy does not cover your personal items if they’re damaged because of a covered peril. Understanding what each policy covers can help ensure you have the correct insurance for your needs.

Talk To Us!

If you have questions about renter’s insurance or need more information on what a policy covers or excludes, we’d love to help! Contact us today at AW Burchell Agency Inc. in New York at (607) 753-0633.

What coverage does renters insurance offer?

Posted on September 22, 2023October 1, 2023 by admin

About one-third of all households are rentals and of those renters, about 40% don’t carry rental insurance. That is taking a pretty big risk that nothing bad will ever happen to you which is optimistic. At AW Burchell Agency Inc. in New York, our goal is to make all of our customers understand the value of having renters insurance. As independent insurance providers, we can offer more choices and the best rates.

Renters Insurance Coverage Options

Content coverage

Most people have many more possessions than they realize. If your rental was damaged or destroyed how would you be able to replace everything you lost? It would be a daunting task and an expensive one too. If you have renters insurance, you will be able to replace all the things you lost. You can choose current value or replacement cost as your type of coverage, and if you have an inventory of your possessions, it is an easy process. It also covers your personal property when you are traveling away from your rental.

Liability coverage

If someone is visiting your home and is injured or is injured at another location by a member of your family including a furry one, you will have coverage to pay for medical bills, and in the event you are sued, it will pay for a judgment and legal fees up to the limit of your policy.

Loss of use coverage

If your rental is damaged by a covered hazard, you may not be able to stay in it for a period of time while it is repaired. Loss of use coverage provides the money you will need to have a temporary place to stay. It will also pay for meals if you are in a place where you are not able to cook your own meals.