If you have renters insurance but have never filed a claim with your renters insurance policy, you might have questions about how the deductible works. When the time comes to file a claim, it’s helpful to understand your renters insurance deductible. Filing an insurance claim can be stressful, but working with the team at Biddle-Shaw Insurance Services Inc. servicing San Francisco, CA can make all the difference. Our insurance agency can help you through the claim process from start to finish. We’re happy to help answer your questions, and if you need help with your insurance company, we’re your advocates throughout the process.
What Is Renters Insurance?
Renters insurance provides coverage to renters when covered events occur. Covered events typically include fire, smoke, lightning strike, wind storm, vandalism, and theft. Every insurance policy is different, so check with your insurance agent to find out what’s covered under your renters insurance policy.
What’s the Renters Insurance Deductible?
The renters insurance deductible is the amount you must pay before your renters insurance coverage kicks in. For example, suppose your renters insurance deductible is $500. If your home is burglarized and the damage is $5,000, you will have to pay $500 toward replacement of your items, and your insurance policy may cover the rest up to the coverage amount in the policy.
Does the Deductible Affect the Premium?
Often, a lower deductible is associated with a higher premium. If you want to reduce your monthly premium, talk to your insurance agent about raising the deductible.
Who Needs Renters Insurance?
If you have an apartment or a rental home, you may benefit from renters insurance. At Biddle-Shaw Insurance Services Inc. servicing San Francisco, CA, we can help you get a renters insurance policy that can help with the recovery after a burglary and other covered events. As an independent insurance agency, we work with many insurance carrier partners. We’re happy to help you shop around for a policy. Call today.
