Best Renter's Insurance Companies in Salt Lake City

FAQs

• Will your renters’ insurance policy in Salt Lake City also cover damage to your roommate’s belongings?

  No. Your renters’ insurance coverage only applies to your personal belongings. You can choose to share your coverage with your roommate and split the premium payments between you by listing your roommate under your policy. However, this is not always advisable. Any claim made against the policy will appear on and impact each other’s insurance records in Salt Lake City. Also, if your roommate has more expensive items to claim, there may not be enough coverage left for your claims.

• Are belongings you take with you during trips outside of Salt Lake City covered by your renters’ insurance policy?

  Most renters’ insurance policies provide off-premises coverage for personal belongings. That means items you bring with you during your commute to work in Salt Lake City, out-of-town trips, and vacations abroad are covered in case of a loss or damage as long as the cause is a covered peril. For example, you can file a claim if your luggage gets stolen in a car break-in at the mall or damaged in a hotel fire.

• What renters’ insurance coverages are commonly available in Salt Lake City?

  Renters’ insurance policies in Salt Lake City typically include three coverages: personal property, personal liability, and loss of use. Personal property coverage pays for items lost or damaged due to a covered peril. Personality liability coverage helps you pay for medical expenses if a guest gets injured on your rented property, and for damage you accidentally cause on someone else’s property. Loss of use coverage reimburses additional living expenses like hotel bills if you need to vacate a damaged rental.

• Do renters’ insurance policies in Salt Lake City cover the full value of your personal belongings?

  You usually have a choice between actual cash value and replacement cost coverage. If you buy a policy with actual cash value, it will reimburse the current market value of your belongings, considering depreciation. If your 5-year-old laptop gets stolen, you'll be paid what a 5-year-old laptop is worth in Salt Lake City. With replacement cost coverage, you'll be paid the cost of a brand-new laptop, as long as it has a similar make and model to what you had.

• What affects your renters’ insurance premium in Salt Lake City?

  The major factors that affect your renters’ insurance premium in Salt Lake City are location, coverage limits, deductible, and whether you have actual cash value or replacement cost coverage. Premiums are higher in locations with high crime rates or more natural risks like hurricanes or typhoons. If you increase coverage limits to insure expensive belongings, your premium will be higher. Also, policies with replacement cost coverage are about 10% more expensive.