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Insurance agent discusses importance of renters insurance


Residents across the Carolinas continue to deal with the aftermath of the freezing temperatures that happened over the Christmas holiday. Some people who rent their properties could be facing thousands of dollars worth of property damage. Daniel Martinez from State Farm said it’s important to have renters insurance in times like these.”Look around your apartment and add up your clothing, your furniture, and electronics, and you got to ask yourself if all this was lost today do I have enough money in my bank account to buy it,” Martinez said.Safehome.org reported only 55 percent of renters across the country have renters insurance; South Carolina does not require it. However, experts believe renters insurance not only protects you from accidents that happen on your property but from accidents that happen on your neighbor’s property too. “They could leave the water running. A pipe could burst above their place, and that gets into your apartment, damaging your personal property. If they have renters insurance, that does not cover your personal belongings,” Martinez said.Martinez added policies are more affordable than people think. “The deductible starts at $500, and so anything after that is covered with replacement costs. Whatever it takes to replace that is what you’re going to get paid out,” Martinez said.With plenty of options to choose from, here is what Martinez wants you to remember:Calculate how much all of the cost of your belongingsConsider getting separate insurance for things like expensive jewelry or collectibles, this is called a personal article policyMake sure the policy has a provision that pays for loss of use. This can cover your expenses while you are waiting for repairsChoose a deductible you are comfortable with While that may seem like a lot, Martinez believes nothing beats working with an agent that you trust and that you can speak with in person or over the phone. “I think it’s important to be able to have a relationship when you’re guarding something so valuable, personal property,” Martinez said.Martinez said it is important to do your due diligence. If your apartment has a renters policy built into your lease, make sure you get a copy and read it front to back to make sure it fits your needs.

Residents across the Carolinas continue to deal with the aftermath of the freezing temperatures that happened over the Christmas holiday. Some people who rent their properties could be facing thousands of dollars worth of property damage.

Daniel Martinez from State Farm said it’s important to have renters insurance in times like these.

“Look around your apartment and add up your clothing, your furniture, and electronics, and you got to ask yourself if all this was lost today do I have enough money in my bank account to buy it,” Martinez said.

Safehome.org reported only 55 percent of renters across the country have renters insurance; South Carolina does not require it. However, experts believe renters insurance not only protects you from accidents that happen on your property but from accidents that happen on your neighbor’s property too.

“They could leave the water running. A pipe could burst above their place, and that gets into your apartment, damaging your personal property. If they have renters insurance, that does not cover your personal belongings,” Martinez said.

Martinez added policies are more affordable than people think.

“The deductible starts at $500, and so anything after that is covered with replacement costs. Whatever it takes to replace that is what you’re going to get paid out,” Martinez said.

With plenty of options to choose from, here is what Martinez wants you to remember:

  • Calculate how much all of the cost of your belongings
  • Consider getting separate insurance for things like expensive jewelry or collectibles, this is called a personal article policy
  • Make sure the policy has a provision that pays for loss of use. This can cover your expenses while you are waiting for repairs
  • Choose a deductible you are comfortable with

While that may seem like a lot, Martinez believes nothing beats working with an agent that you trust and that you can speak with in person or over the phone.

“I think it’s important to be able to have a relationship when you’re guarding something so valuable, personal property,” Martinez said.

Martinez said it is important to do your due diligence. If your apartment has a renters policy built into your lease, make sure you get a copy and read it front to back to make sure it fits your needs.



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