A guide to renters insurance:
 
Once you find your dream rental and you are all set to move in, there is one last thing you need to consider – Renters Insurance in Louisiana.  Even if the neighborhood is great and the risk of break-in low, there is always a risk of a natural disaster like hurricanes, floods and fires.
 
Most of us try to rent our apartments or homes in the safest neighborhood in the city.  While that is a great start towards protecting your belongings, it doesn’t protect you from all mishaps.  Renters insurance in Louisiana can help with more than just your personal property.
 
Why do you need renters insurance?
 
Many consider renters insurance as an additional financial burden, and that insurance is meant for expensive items we own like house, car or shop. Most of the time, it is avoided since it involves a cost, and you may feel home insurance should be done by the landlord. As a matter of fact, the landlord may have insurance, but that only covers the structure of the home. It doesn't cover the things that belong to you.  In order to protect your belongings you’ll need to invest in a renters insurance policy in Louisiana.
 
A renters insurance policy in Louisiana can provide peace of mind in case of disaster, like fire or flood. Even if a disaster happens on another floor of your apartment building, if the building is deemed unlivable you’ll need to find somewhere else to stay, renters insurance in Louisiana can provide coverage for loss of use.  
 
 Renters insurance doesn't cost much!
 
In terms of cost, renters insurance is relatively cost-effective.  Depending on the monetary value of your possession, it normally runs below than $1 a day, which is pretty low if you compare it with the kind of coverage it provides.
 
 Identifying the correct policy:
 
Renters insurance in Louisiana can be purchased from a variety of available options that depend on where you live and your age. While there are incremental policy dollar amounts, you should consider the cost and condition of your higher-priced possessions, some items may require a rider due to their value. 
 
If you happen to have an existing renters insurance policy and are moving to a new place, your existing policy should carry over, but you need to register the new address with your insurance agent and the new address may affect your current rates. 
 
In case you are considering taking out a new renters insurance policy in Louisiana, you need to decide how much coverage you need ahead of time.  Consider taking an inventory of your belongings, assets, and property that could be lost or destroyed in event of a mishap. Assign a value to each and add up the list.  Next decide how much you could afford to pay to replace everything on the list. Don’t allow your deductible to exceed the dollar amount you can comfortably pay out of pocket.  With your personal property value in hand, call Kelly Lee Insurance and allow one of their experienced insurance agents to shop your renters insurance for you.  ​

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When you are shopping for auto insurance, you will find there are several coverages available depending on your needs and your state insurance requirements.  All states require liability insurance; this covers the other driver if you are in an accident, and it was your fault.  Liability is the more expensive section of full coverage but can be purchased alone if you own your car outright.  It is important that you understand what you are paying for when purchasing car, truck, or motorcycle insurance, so we have defined the three sections of your auto insurance below.

Auto Liability Insurance (Car, Truck, Motorcycle, or SUV)?
Liability insurance covers repair costs to others when you are at fault in an accident, and it also provides for the medical needs of the innocent party. Liability can also provide coverage to property damage other than vehicles.  If you accidentally accelerated instead of hitting the brakes and ran into someone’s fence or home, liability can be applied to the damage done to the fence or house.

Liability insurance also contains legal defense in case the accident ends up in a liability lawsuit.  Covering your defense costs has a benefit to you and your insurance company.  While protecting you, the insurer also protects itself by ensuring you are not defending yourself in a lawsuit for which they are financially liable.

Understanding Auto Liability Insurance Limits
Liability insurance is available starting at a state minimum and can be increased in increments.  Limits means the most an insurer will be liable for if you are involved in an accident.  Liability insurance limits are displayed as three numbers, like this 10/50/25.   Each number represents limits in the thousands as follows:

The 10 represents $10,000 in bodily injury per person injured.
The 50 stands for $50,000 maximum bodily injury coverage per accident.
The 25 equals the maximum of $25,000 in property damage per accident.

If the accident causes damage or injuries above the liability insurance limits you choose, you can be held personally responsible and sued for the rest.   That’s why purchasing the lowest liability limits in an attempt to save money is ill-advised and can have financial implications for years to come.  

Let’s say that you are in an accident where you hit a new base-model Infinity QX80 and it is totaled in the accident.  The Infinity QX80 starts at $67,000.  The 3rd number ($25,0000) in our example above represents the most the insurance company is required to pay; you are responsible for the difference between your liability limit of $25,000 and the $67,000 it would cost to replace the vehicle.  You are now looking at covering the difference of $42,000 out of pocket.

Now, if purchased liability insurance coverage at 100/300/100, the insurance company would cover the cost of purchasing the new vehicle up to $100,000.  We recommend taking the time to speak with a knowledgeable insurance agent to discuss needs and allow them to help you determine the best coverage for your situation.  The minimum liability insurance coverage varies from state to state, for example, Louisiana Liability requirements are 15/30/25, and our neighboring state Mississippi is 25/50/25, while Texas is 30/60/25.

Need insurance in Louisiana? Call the knowledgeable agents at Kelly Lee Insurance for competitive quotes on your insurance needs.