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Lincoln renters insurance premiums are affordable enough to fit nearly any tenant's budget in Nebraska. For a small sum each month, you can buy a plan that will replace your personal belongings if they are damaged by a hazard that's covered under your insurance policy. While your landlord's property insurance will cover the apartment building or house that you live in, you must carry Lincoln renters insurance to cover the furniture, appliances, electronic equipment, clothing and small personal items that you keep in your home.

Many renters in the capital city of Nebraska aren't aware of how much their belongings are worth. You might be surprised to find that altogether, your possessions are worth more than you realize. Cheap renters protection can prevent potentially devastating financial losses in the event of a fire, a wind storm, a vehicle collision with your building, a forced entry theft or another NE hazard. Look for a reliable renters policy from an insurance company that understands the common risks that tenants in Lincoln face.

Renters Liability Insurance

Lincoln is a large, diverse Nebraska community, whose economy draws from a number of different sources. Higher education, health care, finance, information technology, manufacturing and retail are among the many sectors that contribute to the Lincoln economy. Whether you are a professional working at one of the medical centers or educational institutions in Lincoln, or a student attending the University of NE at Lincoln, you can count on Lincoln renters insurance to cover your valuable personal property.

In addition to covering your belongings against a wide range of perils, standard renters insurance policies include personal liability protection. Liability coverage protects your financial interests if you are sued by a guest, neighbor or friend who is injured in your apartment or rental house, or who loses property as a result of conditions at your home. This coverage may insure you against damages or injuries caused by your family members and pets, as well. Some policies will even cover damages caused by members of your household at another person's home.

Liability insurance pays for your legal costs, including attorney's fees and court costs, as well as damages awarded to the plaintiff. Your policy will only cover you up to a certain policy limit, so you must feel confident that you have enough protection to provide for the costs of a serious lawsuit. No fault medical payments coverage is included in many Lincoln renters insurance, giving you extra peace of mind about your family's financial stability.

No fault medical protection covers the cost of medical treatment for visitors or friends who are injured by a member of your household. In the event of an injury, the injured person may seek treatment and submit the bill to your Lincoln renters insurance provider. This expedited form of compensation is designed to prevent expensive lawsuits for relatively minor injuries. Liability coverage and medical payments protection can make you feel more financially secure in your Lincoln home.

Levels of Renters Coverage

Before you purchase Lincoln renters insurance, take an inventory of the belongings that you own. Your policy coverage limit should be sufficient to replace all or part of the value of your possessions, including your clothing, jewelry, watches, cameras, furniture, electrical appliances and your other assets. Lincoln renters insurance can cover your belongings for their actual value, or for their replacement cost, depending on the level of protection you choose.

Actual cash value represents the amount that an item is worth, with a deduction for depreciation. For instance, if you paid $250 for a camera five years ago, the camera would be worth considerably less today. If you were to lose your five-year-old camera in a fire, actual cash value benefits would only cover its current value, not its original worth. To replace the camera, you would have to pay for a large percentage of the purchase with your own funds.

If you were to insure your camera for its replacement cost, you would receive enough money from your Lincoln renters insurance policy to pay for a new equivalent, without a deduction for depreciation. Although insuring your belongings for replacement cost is more expensive, the extra security it provides may be worth the extra money. Consider your belongings and your budget to decide how much you could afford to pay out of pocket if your things were destroyed in a disaster or stolen.

Most NE policies impose a limit on your total benefits and on the benefits you can receive for a single item during a policy period. If you have costly possessions, like jewelry, heirloom antiques or furs, you may need a floater to cover these valuables. A floater is extra Lincoln renters insurance that extends the limits of your contract. Work with a reliable provider to determine exactly what you need to protect your valuable assets.