If you want to rent a home, your best bet for protection against financial setbacks or losses is getting renters insurance. Its role in salvaging during events of fire, damage, or even theft cannot be overstated.
For this reason, buying the right renters insurance for your rental apartment is very important. With AGI renters condo insurance by Assurant, your property will be protected against potential losses
From protecting your personal belongings to protection against accidents to guests in your rented place.
Here’s what Agi renters insurance by Assurant means, what it covers, and all you should know about their policy.
What is AGI Renters Condo Insurance?
Geico is a popular insurance provider that offers a range of insurance products to the public. They also extend coverage for certain policies through partnerships with other insurance providers.
One of those is – Assurant. If you enroll for renters insurance through Geico, your insurance policy might be handled by Assurant. For this reason, you will find AGI*RENTERS/CONDO INS… on your policy statement.
Keep in mind that AGI is not an insurance provider, but instead, your AGI*RENTERS/CONDO INS… is handled by Assurant an affiliate of Geico.
What does AGI renters insurance by Assurant cover?
When buying condo renters insurance, it generally includes basic renters coverage. Assurant renters insurance in this case isn’t different. They offer fast and easy policies on a variety of coverage options to meet your lifestyle.
Here are some coverage options you will benefit from when you sign up:
Personal property coverage
This is one basic policy you would always get from Assurant renters insurance. When you experience damage to your personal belongings like gadgets, jewelry, furniture, or property losses due to theft, the personal property policy will help you pay for their repair or replacement.
This policy is a very important part of the renters’ insurance as it gives you peace of mind knowing that you are covered and can retrieve your properties in the event of a disaster. Specific events where this policy kicks in include:
- Water damage
- Smoke damage
- Falling objects
- Aircraft or vehicle damage
- Volcanic eruption
- Power surges
Loss of use or additional living expenses
Your rented home could become unlivable due to fire or any other disaster. Assurant renters policy will cover you in this event and will generally pay you during the repair period.
This compensation will cover expenses like the temporary place you choose to stay or the hotel, meals, and other expenses.
Someone could get hurt in your apartment and decide to sue you for the damages, without this policy, your finances could be dealt a huge blow and you might struggle for years to cover up the legal fees.
But with the right renters policy in place, Assurant liability coverage will help you with legal costs, by paying for someone else’s bodily injury on your rented property.
This policy is somewhat similar to the liability insurance. The difference is that if a person gets hurt in your space, this coverage will kick in regardless of who is at fault or not, whereas liability will only cover if are responsible for the damage.
Medical payments can help you pay for slips or even dog bites to a visiting friend.
What Assurant condo renters insurance may not cover
Before buying Assurant renters, it is very important you understand your policy and the exclusions it has. Doing this will help you tell what your policy covers and the losses or damages it may not cover.
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Here are some general areas the Assurant renters insurance coverage does not always apply:
Most renters insurance do not always cover damages caused by an earthquake. However, some insurance providers might offer it as an add-on.
In the event of flooding due to heavy rainfall on your home, you will have to pay completely out of pocket for repairs or replacements. To be on the safer side of this, you should buy separate flood insurance for renters.
Renters insurance generally does not cover damage caused intentionally by you or anyone else covered by your policy. This includes acts of vandalism you commit.
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Damage or loss resulting from illegal activities or items used in illegal activities may not be covered by renters insurance.
AGI renters insurance phone number
For Condo and renters insurance complaints, you can contact Assurant customer support via the respective lines – 1-866-602-4424 and 1-888-260-7736
Note that hours of operation are Monday through Friday. 8 a.m. – 8 p.m. EST
Frequently Asked Questions (FAQs)
Who needs renters insurance?
Anyone who is renting a place to live needs renters insurance.
Do I need AGI Renters Condo Insurance if I live in a condo?
While condo associations often have their own insurance policies, they generally do not cover your personal belongings or provide you with liability protection.
AGI renters condo insurance is designed to fill these gaps and protect your interests as a condo renter.
Can I add coverage for high-value items like jewelry or electronics?
Yes, you can often add extra coverage for high-value items as an add-on to your policy.
This allows you to specify and insure these items separately.
Is renters condo insurance expensive?
Renters condo insurance is cheaper than homeowners insurance, but the cost can vary due to several factors like the covered amount, deductible, location, etc.
Can I cancel my Assurant renters insurance policy?
Yes, you can typically cancel your policy, but there may be terms and conditions associated with cancellation. Be sure to review the policy or contact Assurant for details on their cancellation process.
Does AGI Renters Condo Insurance by Assurant cover my roommate’s belongings?
Yes, AGI Renters Condo Insurance covers your roommate’s belongings, but they should be listed on your policy. You can add your roommate to your policy.