Resource Library - Renters/Condo Insurance

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Smart Money Move #4: Protect your investments...big and small

It takes time and money to accumulate the things you have. You've worked hard for them—be sure you have adequate insurance coverage.


Renters Insurance

What does renters insurance cover and what should I look for in a policy? 


Why you need renters insurance

Mark Blog PhotoDid you know that if you're renting and a fire or other disaster destroys your possessions, you could suffer a significant financial loss unless you have renters insurance? Your landlord’s policy does not cover your personal property. The homeowners or commercial property insurance policy your landlord carries insures the landlord’s property, not yours.

A renter’s insurance policy provides protection for your personal property, such as furniture or electronic equipment, in cases like fire or theft. Renters insurance also provides liability protection. Unintentional bodily injury or property damage that you cause to others could be as financially damaging to you as a fire in your apartment. Liability protection against accidental occurrences (such as someone slipping on a wet floor and breaking an arm) comes standard with renters insurance policies.


Renters Insurance

Do you rent a house or apartment? Here are three reasons you should consider purchasing renters insurance. 


Are you wisely protected?

Insurance consumers fall into one of three categories—the Wisely Protected, the Exposed and Unaware, and the Unintentional Over-Spender. While nearly everyone THINKS they are Wisely Protected, few actually are. If you’re like most people who treat auto and homeowners insurance like a commodity—or one-size-fits-all—you risk leaving yourself (and your family) exposed to financial loss or purchasing coverages you don’t need. Here's how to get wise with insurance.


Protect your real property investments

You’ve worked hard to acquire your personal possessions - your home, collectibles, and other personal property. These items represent a significant financial investment that could be lost, if not properly insured. Do you know if you have enough insurance to replace what you have? The time to consider whether you have adequate protection is now.


Protect your home against the threat of severe weather

Wisconsin is no stranger to severe weather. In fact, each year Wisconsin averages 23 tornadoes, according to statistics from Wisconsin Emergency Management. This week, (April 15-19, 2013) marks Severe Weather Awareness Week in Wisconsin - it's also area good reminder to think about protecting yourself and your property. Would your current homeowners policy be enough to cover the damages to your home and your personal property if a tornado damaged your home?


Five critical times to review your insurance

Make sure your insurance is keeping up with your life! We share a few critical events that should trigger a review of your policies.


Protecting what's important: Gadget mishaps happen

Did you or your kids get a new gadget recently? While you can’t cover every possible risk, you do have choices in how you can protect those significant investments. Here are some to consider.


Uncovering Insurance Myths

My premium will increase just for filing a claim, won’t it? And my deductible doesn’t apply if I hit a deer, right? Not exactly. We asked the insurance professionals here at WEA Trust Member Benefits to help dispel some of


Consider renters insurance in your back-to-school plans

Mark DannehlIs your child heading to college this fall with plans to rent? If they are still your dependent and attend college, they may be covered on your homeowners policy. Even so, there are a few reasons you may want to consider purchasing a separate renters insurance policy for your college-bound child.

1. The deductible on a renters insurance policy may be less than on your homeowners policy.
2. If there is a claim, it will not show up on your homeowners policy and possibly affect your premiums.
3. Renters insurance is relatively inexpensive.


Is your child heading to college this fall?

If your college-bound child plans to rent this fall and is still your dependent, they may be covered on your homeowners policy. However, depending on your situation, there may be reasons to consider purchasing a separate renters insurance policy for your child.


Take the risk out of Halloween with proper insurance coverage

Costumes, decorations, treats, and sometimes tricks—these things make Halloween a favorite holiday. But this widely celebrated day of ghosts and goblins also has the potential for costly mishaps. As homeowners, renters, and motorists, consider the important role your insurance plays in protecting you and your finances in the event the unexpected happens.


From iPads to diamonds: The advantages of scheduling high-value possessions

Did you know standard homeowners policies provide only limited protection for high-value items? Adding an endorsement (also called a rider or schedule) to your homeowners policy for valuable possessions can provide coverage for their full worth. Here's what you should know about scheduling your valuables.


Is condo living in your future?

Condo living is increasing in popularity among empty nesters and young families alike. If you’re planning to make a condo your home, make sure you take steps to protect your investment. Insurance needs for condo owners are different than the typical single family homeowner.


Wondering if you qualify for our insurance program in retirement?

As a Wisconsin public school employee, you are eligible to participate in our high-quality personal insurance program, which includes auto, home, condo, renters, flood, and umbrella insurances. Our insurance products have been tailored to meet your unique needs as a Wisconsin educator. However, if you’re retiring soon and are interested in our insurance products, plan ahead.


You can stick with us

Did you know that you can stay insured with us even after you leave your school job or retire? And your Member Benefits’ 403(b) and IRA accounts can remain with us whether you retire, change districts, or change professions?


Condo Insurance

Insurance protection differs for those who own a condominium or rent. Learn what you need to know about condo insurance. 


Discounts

Our condo discount programs can save you money on your insurance premium. Review your coverage regularly with one of our Member Service Consultants to be sure you’re receiving all of the discounts for which you qualify.


Discounts

Our renters discount programs can save you money on your insurance premium. Review your coverage regularly with one of our Member Service Consultants to be sure you’re receiving all of the discounts for which you qualify.  


Protecting what's important: A word to the wise renter

A word to the wise renter: Insurance. Your personal possessions (your clothes, furniture, electronics, etc.) are not covered under your landlord’s insurance policy. Your landlord’s policy only covers your landlord’s property, not yours. Renters insurance provides protection for your personal property.


Life is like a box of chocolates…

“You never know what you’re gonna to get.” Words of wisdom from the character Forrest Gump and reason to make sure you and your family are adequately protected from the challenges that life can throw your way. If you haven’t reviewed your coverage lately, contact us for a free consult.


Need to take action on your insurance? We make it easy

Member Benefits makes it easy to take care of your insurance needs online. You can file a claim, update your policy, learn about your coverage, and more...whenever it's convenient to you. Here's a little summary of what you can find on our website to help you with your insurance needs.


A word to the wise renter: INSURANCE

Are you renting a home or apartment from someone else? Did you know that you could suffer a significant financial loss if you don’t have renters insurance? This is because your landlord’s policy does not cover your personal property.

We have three reasons to have renters insurance.


If your adult kids are still on your policy...then what?

They certainly grow up fast. At some point they will be on their own—making their own decisions, buying their own insurance, and renting their own apartment.

Good news! Dependent children on your auto insurance policy may continue insurance coverage with Member Benefits after they are on their own. When your son or daughter is ready to purchase their own policy, give us a call. We can help them evaluate their insurance needs and give them a quote.


Summer comes, and summer goes

Let us answer your retirement savings questions and make sure your auto and home insurance is providing you and your family the protection you need.

Free summer financial planning consultations and insurance consultations fill up fast. Call now to schedule yours.


Take a closer look at your insurance coverage

An insurance consultation is a free service to Wisconsin public school employees.


Properly Insure Your Condo

Unlike homeowners who must insure the entire structure (their house), condo owners must take a slightly different approach when determining their insurance needs. Here is a guideline condo owners can use to determine what they’re responsible for insuring to make


Coverages

For condos, calculate how much coverage you need by breaking it down into two parts: coverage for contents and coverage for structural items.


Evaluating renters insurance

Things to consider when purchasing renters insurance.


Coverages

A renter's insurance policy provides protection for your personal property, such as furniture or electronic equipment, in case of perils like fire or theft.


Condo Insurance

Condo owners have different insurance needs than homeowners because typically a portion of the insurance is provided by the condo association. However, each association handles this differently, so understanding who covers what is important for protecting your investment. Work with a Personal Insurance Consultant to determine the coverage you need. 


Vacant properties pose problems

There are a number of reasons you might find yourself with a vacant property. Whatever the reason, insuring a property that is vacant is not easy and may be impossible.

 


WEAC members save money with preferred pricing

Mark Blog PhotoDid you know that WEAC members receive preferred pricing on Member Benefits programs and services? WEAC created programs such as our nationally recognized 403(b) and personal insurance programs to give members a quality alternative to for-profit providers of financial services.

While eligibility for participation generally includes all Wisconsin public school employees, WEAC members receive preferred pricing. Most recently, we added a WEAC member discount for members participating in our auto, home, renters and condo insurance programs.


I’m considering retiring out of state. Can I keep my WEA P&C insurance?

Mark Blog PhotoBecause WEA P&C is only licensed as an insurance carrier in the state of Wisconsin, we are not able to provide coverage for non-Wisconsin residents. So, if you decide to take up permanent residence outside of Wisconsin in retirement, you will have to find another insurance carrier.

Snowbirds who choose to go south or elsewhere for an extended period continue to be eligible as long as they maintain their primary residence in Wisconsin. However, vehicles licensed in another state for use during their stay cannot be included on their WEA P&C policy. Also, we are only able to provide home, condo, or renters insurance for property inside of Wisconsin.


Myths about renter's insurance

Myth #1:  My landlord's insurance covers me Your landlord's insurance covers your landlord's property, not yours. Additionally, the liability insurance your landlord carries is limited to injuries on his property, not in your apartment. So if a friend falls off a ladder while painting and breaks a leg, you may be resp