Renters Insurance in Virginia & Maryland
- What Is It?
- Who Needs It?
- Coverages Offered
Renters insurance is specialized home insurance for residents who lease their homes.
Residents who lease their primary home
Out-of-state residents who lease a summer home on the shore
Out-of-state workers who lease an apartment near the office
College students who live off-campus
Personal Liability Coverage: Might cover certain lawsuits filed against a policyholder
Personal Property Coverage: Might cover personal belongings in a leased home
Additional Living Expenses Coverage: Might cover alternative accommodations if a home becomes uninhabitable
Beacon Insurance Group is Here to Help
For decades, Beacon Insurance Group has been providing quality and affordable insurance coverage to the good people of Virginia and Maryland. Our team has carefully handpicked reputable insurance companies that we are confident can provide you with the security and peace of mind that you deserve.
Whether you are a business owner or looking for protection in your everyday personal life, we know that you don’t have the time to worry about your insurance programs. That’s what we are here for. At Beacon Insurance, we do the digging to find you the best possible coverage at the best possible price.
It’s incredibly important to us that we continually provide you with expertise and that personal touch that you are looking for when it comes to finding high-quality renters insurance.
Fill out the form to get in touch with a specialized renters insurance agent and we will get you the superior customer service that you deserve!
Request A Quote
What is Renters Insurance?
Leasing a property reduces a person’s risk exposure to structural property loss, but renters in Virginia & Maryland aren’t without risk. Renters insurance may help protect residents who don’t own their homes from loss of personal property and liability lawsuits.
Renters insurance is specialized home insurance for residents who lease their homes. While there are points of similarity with standard homeowners insurance policies, there are also places where the two insurance types differ.
Who in Virginia & Maryland Needs Renters Policies?
Most Virginia and Maryland residents who lease an apartment, condo, townhome or house should carry renters insurance. This includes:
- Residents who lease their primary home
- Out-of-state residents who lease a summer home on the shore
- Out-of-state workers who lease an apartment near the office
- College students who live off-campus
College students who live on campus might still be covered by their parent’s homeowners insurance. An insurance agent who specializes in renters and homeowners policies can help determine whether a renters policy is needed in this situation (or any other).
What Coverages Do Renters Policies Provide?
Most renters’ policies provide multiple coverages in order to offer robust protection. Some of the coverages that a policy will likely make available are:
- Personal Liability Coverage: Might cover certain lawsuits filed against a policyholder
- Personal Property Coverage: Might cover personal belongings in a leased home
- Additional Living Expenses Coverage: Might cover alternative accommodations if a home becomes uninhabitable
Should Housemates Purchase a Renters Policy Together?
Splitting the premiums on renters’ policies with fellow housemates can provide some savings, but the savings are frequently minimal because rates for the insurance tend to be low. Sharing a policy also can create exposure to other risks that housemates face.
Because the savings are usually low and risk exposure can increase, sharing a policy with housemates generally isn’t advised unless they’re immediate family.
How Can Residents in Virginia & Maryland Get Renters Insurance?
For help finding renters insurance in Virginia or Maryland, let us at Beacon Insurance Group help. Our agents have the expertise necessary to help you find a policy that’s well-suited for your situation, and we can recommend the best policy regardless of what company offers it since we’re independent.
What are the Advantages of Working with an Independent Agent like Beacon Insurance Group?
This is a question that we hear all the time – and that’s okay! – because we know that the insurance world can be confusing. That’s why we are here to help you.
Securing your insurance through an independent agent rather than buying straight from an insurance company is similar to hiring a lawyer before going to court, rather than defending yourself. Just like lawyers, independent agents have the knowledge of the entire industry with attention to important, cost-saving details that only come with years of experience.
But, UNLIKE lawyers, going through an independent agent not only comes with no extra charge, but it can often SAVE you money by being able to shop your needs to many different insurance companies, and also by ensuring that you are only being covered for what you need.