Renters Insurance for Portland, ME

Portland, ME, home to over 65,000 people, is one of Maine’s most popular markets for renters and homeowners. Nearby coastal attractions, parks, local sports teams, and shopping are just some of the factors that lead to Portland’s widespread appeal.

Renters Insurance Quotes in Portland, ME

If you are renting in Portland, a renters insurance policy can help to protect what matters to you. Landlord’s insurance, typically, will only cover the building and the landlord’s property, as well as certain bodily injury claims caused by the landlord’s negligence. In other words, if an accident occurred in your apartment that resulted in your belongings, appliances, electronics, furniture, clothing, and other property being lost or damaged, you would likely end up paying out of pocket. Reach out to our local insurance agency by filling out our form here, or giving us a call. From there, our experienced team will gather more information on the items you may be looking to cover.

How to Save on Renters Insurance

When looking for ways to save on your renters insurance policy, comparing coverages and prices from multiple companies is a great place to start. Talk to your local insurance agent to see what discounts are available, such as multi-policy discounts, or safety discounts if you have security systems and/or other alarms.

Renters Insurance Terms to Know

There are two main coverages when it comes to insuring your personal property: actual cash value and replacement cost. Actual cash value refers to the current market value of your property, taking into account depreciation.  In contrast, replacement cost refers to the cost of replacing your property with a new item of like kind and quality, without any deduction for depreciation. There are benefits and drawbacks of both types of policies – one of our experienced agents would be happy to provide you with additional information and help you explore your options.

Inventory for Portland Renters

Before acquiring renters insurance, it is recommended to create a home inventory. Doing so will not only help you keep track of your belongings, but can also help you provide insurance companies with detailed information about the items you are looking to insure. If you can, save receipts for expensive items, such as collectible, jewelry, and/or electronics. Also, taking images, videos, and taking detailed notes can help in the event of a claim. If you have collectible items or expensive jewelry, you may need a rider or floater to add to a standard policy. Some common items you may need a floater for are:

• Antiques
• Musical instruments
• Jewelry
• Rare sports memorabilia

It is important to keep your inventory updated as you purchase more items, especially those of more value.

Contact Your Local Maine Office

Our local offices throughout Maine can help you find coverage options for renters insurance, but we also can assist you with coverage for homes, cars, boats, and more. Reach out today to start the conversation.

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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.