Get free, no obligation quotes from multiple providers

State Farm Insurance Allstate Insurance Farmers Insurance American Family Insurance Unitrin Insurance Travelers Insurance


North Memphis renters insurance is a type of insurance for people renting in North Memphis. Families, couples, professionals, students and retirees can all benefit from the many added bonuses that North Memphis renters insurance can provide. Take the time to compare the different Memphis rental insurance providers and learn about more options. There is a lot more to North Memphis renters insurance than just contents protection and thus it is a good idea to know what is out there before you accept any policy.

Renters Insurance TN

Essentially, TN renters insurance is a type of Tennessee homeowners insurance but with a twist. Renters in North Memphis, rather than homeowners will be the ones that need to buy the policy and benefit from this coverage. When you are dealing with this type of insurance it is important to read the fine print. This is your home, your contents and your financial security that is on the line and thus you need to know how your Memphis provider will be helping you out.

Finding out after a flood that you are not actually covered for flood insurance can be devastating but this happens all the time. Finding out that you don't have enough coverage to pay for most of your ruined items or discovering that in order to even make a claim you need to pay an extremely high deductible can all happen if you have not read through your North Memphis renters insurance policy correctly. Make sure you take the time to read through the policy. Often the reason you are getting such a cheap deal is actually because you are missing out on valid TN coverage or because your deductible is through the roof.

These are things you want to be aware of before they happen. After all, if you are not aware then you could be looking at serious problems down the road when the time comes to make a claim. Hopefully this will never happen but you never know and it is best to be prepared just in case.

One of the biggest things to check when comparing North Memphis renters insurance is what perils are actually covered under your Tennessee renters insurance policy. This will depend on your provider in Memphis among other things. Some of the most common perils that you should be covered for include fire, theft, riot and civil commotion as well as damage caused by storms, landslides, volcanoes and hurricanes. There are other perils that you can add to your North Memphis policy such as payouts for war damage, earthquakes and floods or water damage.

Essentially, if the structure of your rental house in Memphis is damaged, then this is not your responsibility as the renter. However, your items inside and outside of the house are your responsibility and this is where the majority of renters in North Memphis will need to make a claim. Things like floor rugs and paintings can be damaged in severe storms if the windows break or the roof leaks. Clothing and jewelry can be stolen in thefts and your entire home can be burnt to a crisp in the event of a serious fire.

Contents Protection Explained

Another thing to check when comparing North Memphis renters insurance is whether you are insured under a true value policy or a replacement value policy. Most standard policies are considered true value. What this means is that, in the same way your car is only valued at what it is worth now, your contents are valued at what they would be worth now, slightly used, old and most likely out of date. What this means is that you won't be getting the same amount back to replace your 10 year old couch with a brand new one. Instead, you may get $200 which can be used to help pay for a new couch or buy a second hand one in the similar condition as yours.

Replacement value renters policies, on the other hand, provide North Memphis renters will more money for their damaged or stolen items. You will get a much higher replacement value but you can also expect these North Memphis renters insurance policies to be more expensive. You can also look at adding additional valuable coverage onto your North Memphis policy to offer more coverage to certain expensive items such as jewelry and paintings.

Compare different policies and providers across Tennessee to get a better idea of what is out there and what you are actually paying for. North Memphis renters insurance is a lot cheaper than traditional Tennessee homeowners coverage but you can get different levels of coverage. For a substantial policy you can expect to pay much more than for a basic coverage plan which starts at around $15 per month. Price is important but so is value when it comes to selecting North Memphis renters insurance.