Find the Best Renters Insurance in Green Bay, WI

How to choose rental insurance in Green Bay

Green Bay residents pay nearly $750 on rent each month, but paying a small amount more in renters insurance could save policyholders thousands of dollars in an emergency.

Renters insurance covers your personal property should it be stolen or damaged in a covered event. It can also cover your belongings if they get stolen outside of your home.

Some policies cover the cash value of damaged items, while others cover the replacement cost. Policies that pay the cash value factor in depreciation, which means you only receive enough money to re-purchase the same items secondhand. Alternatively, policies that offer the replacement cost will pay for a new comparable item. Replacement cost is often a higher payout, but those plans cost more monthly.

Renters insurance also guards against financial liability should someone accidentally get hurt in your home or you unintentionally damage someone else’s property.

If an emergency forces you to leave your home, some renters insurance policies will pay your hotel bills and other charges you incur as a result.

It’s important to note what renters insurance doesn’t cover:

• It usually covers water damage, but not flood damage.
• It doesn’t cover earthquake damage, though that is a minimal threat in Green Bay.
• Your car doesn’t qualify as your property for this purpose and still requires auto insurance.
• You and your family’s injuries fall under medical insurance, even if they occur in the home.

How much does renters insurance cost in Green Bay?

Renters insurance in Green Bay costs an average of $15 to $30 a month, though it depends on several factors, including your:

• Total coverage amount
• Deductible
• Type of property coverage (cash value or replacement)
• Location

Parents’ insurance may cover their children in college, so UW-Green Bay students should check before purchasing renters insurance.

Once you have renters insurance, it’s important to keep an up-to-date inventory of your belongings and to revisit your current policy periodically to ensure your coverage is adequate. As you buy new things, your coverage needs may change. Unusually valuable items, such as art, jewelry or collectibles, may require an additional rider to get full coverage.