Did You Know This Could Be Insured?

It may be surprising to learn that many personal items in your household can be eligible for insurance coverage. There are a variety of items insurance could protect in the event of damage or theft, like instruments, jewelry and art. So whether you’re looking to insure a wedding ring or pet iguana—we’ve got your covered! Keep reading to learn more about the unique items covered under insurance!

What is Personal Property Insurance Coverage?

When it comes to Personal Property Insurance, there are a few different coverage options available. Replacement cost, which covers the cost of replacing damaged or stolen items, is the most common type of coverage. There is also cash value coverage, which reimburses you for the actual cash value of your belongings at the time of the loss. Finally, there is Personal Property Insurance, which covers the cost of repairing or replacing your belongings.

What can be covered?

Musical Instruments. When it comes to household items, there are a few surprising things that could be insured. For instance, did you know that you can insure a musical instrument? If you own an expensive piece, or simply want to protect your investment, Personal Property Insurance could be a great option.

Electronics are another type of household item that can be insured, such as TVs, sound, or gaming systems. You may want to consider insuring these types of items against damage or theft. Also, be sure to check different coverage limits in case you need to include additional coverage for certain electronics.  

Jewelry and art are two other types of personal belongings that can be insured. If you have pieces of jewelry or art, Personal Property Insurance could help to protect your investment. For example, you could file a claim for lost, stolen or damaged pieces and receive reimbursement for the value of your belongings. 

Cameras/Camera Equipment. If you are a photographer, videographer or work with cameras often, Personal Property Insurance coverage may be the thing for you! Personal property coverage may cover cameras and qualifying camera equipment. Consider looking into all the coverage options available. 

If you’re looking to protect your belongings, we encourage you to speak with your OKFB insurance agent about options available to you. If you have any other questions, connect with us today. We would be happy to help you find the insurance coverage that best meets your home, auto, commercial, and life insurance needs.  

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Renters Insurance 101

Renting a place to live means you likely don’t have to get insurance to cover the structure in which you live. Consequently, many people will overlook the benefits of getting insurance for their personal property. Read on to debunk common misconceptions about renters insurance. 

Myth #1: “My landlord will cover my personal property damages/losses”  

Fact: While there may be some landlords who offer renters insurance to their tenants, it’s more likely that the landlord’s policy will only cover the structure itself and not anything inside. Even if the appliances owned by the landlord cause damage to your personal property, they will not be responsible. An example of this is if your refrigerator broke down and caused all your food to spoil. It would not be on the landlord to replace that food under their policy. If you don’t have renters insurance, you may lose hundreds of dollars worth of food items. 

Myth #2: “It’s too expensive”  

Fact: Renters insurance is actually quite affordable and provides coverage for all of your personal belongings. An average policy can protect your personal property in the event of an accident for affordable yearly price. Plus, there are additional discounts and credits you could be eligible for, such as bundling policies with the same agency.   

Myth #3: “It only covers my personal belongings”  

Fact: Renters insurance can also cover any damage you might cause to other tenants’ property or possible medical accidents that happen in your rental. For example, if your bathroom floods and seeps to other tenants’ personal property, a renters policy can help cover that damage. 

You can visit our website to learn more about renters insurance options or, if you want to speak directly with an agent about the best coverage option for you, you can contact your local agent today.