Getting renters insurance can protect your Charlotte or Waxhaw, NC area rented house or apartment stay safe. However, what happens if your policy is not up to date or if you’ve let it lapse? We’ve seen this happen at Hausmann Insurance & Financial Services, and the results are never good.
What Happens If Your Policy is Not Up to Date?
Your renter’s insurance policy is designed to protect your belongings in a rented home and help when you experience a total loss scenario. For example, if a house burns down, and you’re renting it, the landlord’s home insurance won’t help you. But your renter’s insurance policy will kick in and give you the help that you need to minimize the potential for a total loss that you’d otherwise experience.
However, if you let your insurance policy lapse or get out of date, you won’t have any coverage on your belongings. Even if your insurance has lapsed a short period, you may have no coverage. Some companies or policies have a grace period after your insurance is out of date, during which it will still cover you. Unfortunately, not all companies provide this option, and you may end up stuck.
So, how can you tell if your policy is up to date? First, check your insurance paperwork and see when you need to make your next payment. You can also contact your insurance agent and ask them if you are behind in any fees or if you need to upgrade your policy for better coverage.
Help is Available for You
As you can see, keeping your insurance policy up to date is critical for your overall financial needs. So, if you live in Charlotte or Waxhaw, NC, or the surrounding area and need insurance help, please contact us at Hausmann Insurance & Financial Services right away to learn more about your options here.