do i need a renter's policy? Archives - Spencer Insurance Agency, Inc

Do you know someone who rents?



After you hear the statistics you will know why I ask you to forward this article to anyone you know who rents.  It does not matter if the place they rent is an apartment, condo or house.

According to an April 2016 survey for carried out by Princeton Survey Research Associates International, nearly 70 percent don’t have renter’s insurance.  Some of the reasons given for not have renter’s insurance include: “My Landlord has insurance, Renter’s Insurance is too expensive, my home has good security, I don’t have enough property to insure, I don’t understand renters insurance and I don’t know where to get it.”

Let Spencer Insurance help you.  Renters insurance cost can be as low as $100 depending on where you live and how much coverage you choose.  Your landlord’s policy does not cover your belongings.  In fact we are finding more apartment complexes that require a renter to have renter’s insurance so the renter knows the landlord’s policy does not cover them.

Renter’s insurance not only covers your contents it also provides liability insurance.

When my son Brian was renting an apartment while in grad school he purchased a renter’s insurance policy from his Dad as instructed. J  He was glad he did.  There was a fire from the apartment next door that caused smoke and water damage to his apartment. Even though he thought his contents did not amount to much since most were hand me downs, he found that when he had to clean and/or replace items after the fire it ended up costing him $15,000.  He was glad he had insurance to reimburse him.  Check out Brian’s story.  Nice to know that your children follow their father’s advice.

Check out our website for more information on renter’s insurance.  Better yet contact us today!

Important Reminder to Parents packing up their children for college.

college packing


This is the time of year when parents start getting their child ready to go away to college. The many shopping trips and the packing will consume much of your free time.  Did you know having a child away at college can have impact on your auto and homeowner’s insurance?

Spencer Insurance Agency has some valuable information for parents so they can learn how this special event impacts their insurance coverage.
Check out our website for a discussion of the following:

  • Is your child’s stuff covered while they are away at college?
  • What if my child and roommate buy stuff together?
  • How does my child going to college impact my car insurance rates?

Another area you need to consider are college loans.  Did you cosign any of the student loans?  Did you take out a home equity loan to help pay for college tuition?

You should consider an inexpensive life insurance policy on your child to cover loans in the event of your child’s death. Student loan debt can add up quickly and become a burden to the family.  Protect yourself financially.

Give us a call at 215-885-2200  if you would like an insurance review.  Good luck with all the preparations during this special time.


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