Click to Text Click to Call
Wilcoxon Insurance, Inc.

4804 S. Minnesota Ave., Ste 103
Sioux Falls, SD 57108

Get Directions

Featured Insurance Blog

Riders You Can Add to Renters Insurance

When you rent a home in Sioux Falls, SD, let Wilcoxon Insurance Inc. help you customize your renters’ insurance policy with riders that help you cover all of your valuables in every situation.

A rider refers to an added clause in your insurance policy that applies to specific property or situations. You can add riders to renters insurance just as you can to homeowners’ and auto policies.

Seven common riders serve renters’ policies:

  • Scheduled property rider: This rider increases the coverage limit for high-dollar items that wouldn’t typically receive full coverage for replacement. Typically, items like diamond earrings or a gaming computer fall into this category.
  • At-home business rider: This rider covers your business equipment if you operate a home-based business that earns more than $2,000 a year. Typically, items like your computer or photography equipment fall into this category.
  • Replacement cost rider: Most policies include an actual cash value, which means the depreciated value after the initial purchase of the item. Adding a replacement cost rider gets you a reimbursement that covers the actual cost of replacing the item with a new one.
  • Pet damage rider: This rider covers you for any liability for damage your pet causes. You won’t have to pay out of pocket for the stained carpet from when your pet got sick from something they ate.
  • Identity theft coverage rider: Adding a rider for ID theft affords you a cash payment to resolve issues arising when your identity gets stolen. Some riders even include help putting you in touch with experts who can help you resolve the problem.
  • Earthquake/Hurricane coverage rider: Adding an earthquake or hurricane coverage rider covers personal property damage damaged in the storm covered by the rider. Certain states don’t include these natural hazards in their named perils in the standard policy.

Get The Right Coverage Today

Protect your belongings fully with renters insurance that includes the right riders that apply to your situation. Contact Wilcoxon Insurance Inc. serving Sioux Falls, SD today.

What to Look for in a Good Renters Insurance Policy

Anyone who has ever rented an apartment or house knows that there are many things to consider when it comes to protecting your home and belongings. Remember your landlord’s policy will not cover your personal belongings in the event of a fire, theft, or other disasters. That’s why you need renters insurance. But with so many different policies available, it can be difficult to know what to look for when choosing the right one for you. Wilcoxon Insurance Inc. in Sioux Falls, SD provides this guide on navigating this important coverage.

Here are a few things to remember when shopping for renters insurance

1. Coverage Limit

The coverage limit is the first thing you’ll want to look at when considering a renters insurance policy. This is the maximum amount of money the insurer will pay out if your belongings are damaged or destroyed. It’s important to choose a policy with a coverage limit that is high enough to cover the value of all your possessions.

2. Deductible

The deductible is another important factor to consider when choosing a renters insurance policy. To understand what a deductible is, it’s important to first understand how insurance works. Essentially, an insurance policy is a contract between you and the insurer in which you agree to pay a premium in exchange for the insurer agreeing to pay out a certain amount of money if you experience a covered event. However, before the insurer will pay out any money, you must first pay the deductible. Choosing a policy with a deductible that you can afford to pay if something happens is important.

3. Policy Exclusions

When you’re shopping for renters insurance, you’ll also want to be aware of what is excluded from the policy. Most policies will exclude items such as jewelry, art, and other valuables from coverage. It’s important to check with your insurer to see what is excluded to ensure all of your belongings are protected.

Contact Us Today

Now that you know what to look for in a good renters insurance policy, it’s time to start shopping around. Wilcoxon Insurance Inc. in Sioux Falls, SD offers a variety of different policies to meet your needs. Contact us today to learn more about our coverage options and get a free quote.

What Does Renters’ Insurance Not Cover?

When you move into an apartment, you might be required by your landlord to get renters’ insurance and prove that you’ve gotten it. If this is the case, you want to learn as much as possible before you get your policy. Talk to an agent from Wilcoxon Insurance Inc. of the greater Sioux Falls, SD area so that you know what is not covered by your policy.

Here are some common things that aren’t covered by renters’ insurance: 

Natural Disasters

Typically, natural disasters like sinkholes, earthquakes, and flooding won’t be covered under renters’ insurance policies. You will be able to set up additional policies such as one that’s specifically for flood insurance. 

Automobile Damages 

If an item(s) is stolen from your vehicle, renters’ insurance is likely to cover it. However, it won’t apply to any damage that’s done to your car itself. If your entire car is stolen, renters’ insurance also will not cover any replacement for the current value or otherwise. 

Undocumented Items

If there are items that you can’t prove you owned or at least can’t prove the value for them, you may be out of luck. You should hold onto receipts at all times, especially for those items that you know you’ll want to have replaced or repaired should something happen to them. 

Roommate’s Items 

If you have a roommate, but the renters’ insurance is only under your name, their items aren’t going to be covered under your policy. It may be a different case if the roommate is related to you by marriage, blood, or adoption. 

Renters’ insurance may be tricky to figure out, but you’ll benefit from discussing your options with a Wilcoxon Insurance Inc. agent. Serving the Sioux Falls, SD area, we are happy to help new customers at any time.  Give us a call or fill out our online form to get more information. 

What is Renters Insurance and Why Do I Need it?

The Sioux Falls, SD area is continuously sprouting, proving to be a rich metro area in terms of population. As more people reside within this city, they will opt to rent a home as a better and more affordable option. Did you know that the homeowner’s policy held by your landlord is not financially liable for the protection of your belongings when unforeseen events strike in Sioux Falls, SD? Be wise and safeguard what you own, no matter little it seems. Don’t hesitate to speak to our agents at Wilcoxon Insurance Inc. to get renters’ insurance that matches your needs and lifestyle.

What is renters insurance?

It’s a form of property insurance that shields imminent losses to personal belongings and safeguards the insured against liability claims. These liability claims entail those happening in your rental and don’t culminate in a structural problem. Renters insurance safeguards anything from a studio apartment to an entire apartment. Investing in renters insurance is an absolute need for the following reasons:

Protect your personal belongings

Have you ever imagined what can transpire when your possessions get damaged in your rental house, forcing you to start from scratch? What happens when a covered peril like a fire strikes in your rented dwelling? Buying condo insurance in Sioux Falls SD can safeguard your personal property when unexpected eventualities strike.

Provides liability protection

Suppose electrical faults emerge in your rented apartment, triggering a fire that spreads to neighbouring rooms? Though this incident might be a result of an accident, it can land you with liability claims. Luckily, if you have invested in renters insurance, it kicks in and covers liability claims such as bodily injuries and property damage to third parties.

Provides additional living expenses coverage

This form of policy caters to additional expenses such as hotel bills when your rented apartment becomes uninhabitable after being ravaged by a covered peril. It settles excess spending you indulged in as your condo was being repaired.

Do you want to safeguard yourself and your personal property in Sioux Falls, SD? Its crystal clear that replacing your personal belongings attracts a substantial amount, which could prove to be an uphill task. Call or visit our Wilcoxon Insurance Inc. today and get more information about renters insurance.

What does renters insurance cover?

Many renters are under the false assumption they don’t need renters insurance since they are covered by their landlord’s insurance. Not true. Your landlord probably insures the building you live in but not your personal possessions. At Wilcoxon Insurance Inc. in Sioux Falls, SD, we are committed to raising the bar on providing affordable insurance to our clients. We are a local independent agency, and we provide unparalleled service and options. 

Your possessions

For many renters, their apartment, condo, or home contains most of their possessions. Basically everything they own other than their vehicle. A home fire, hurricane, or tornado can cause total devastation. Not only is your home gone but everything you own is gone. Renters insurance may cover your possessions. This coverage will also cover theft from your home or when you are away from home with one of your possessions. 

You have two choices when purchasing content insurance. You can choose actual cash value or replacement cost. Actual cash value-this is the amount a possession is actually worth today taking depreciation into account. Replacement cost is what it would cost to replace that possession today.

Liability

If someone is hurt while visiting you at your rental or by a member of your family, even your pet, you may find yourself with medical bills and property damage that you must pay. If it leads to legal actions, that can get expensive. Renters insurance provides liability protection. 

Loss of use

If your rental is damaged by a covered peril, it may become uninhabitable. If that happens, you will need a place to stay right away and after that for months. Having this insurance will provide the assistance you need to get an interim rental. 

Contact Wilcoxon Insurance Inc in Sioux Falls, SD with all your renter’s insurance questions and needs. 

Common Renters Insurance Myths Exposed

Wilcoxon Insurance Inc. serves the Sioux Falls, SD community by offering multiple types of policies. One of our primary goals is to provide excellent customer service to our clients. We take pride in serving the community as an independent agency.

Common Renters Insurance Myths

Renters Insurance allows you to protect your assets. The policy covers any damage to your personal items if a fire occurs or some other type of natural disaster. You are also covered if someone steals or vandalizes your property. Liability coverage is also important, as you will be protected if someone gets injured while visiting your property. Here are some common renters insurance myths to avoid while researching coverage.

I Don’t Have Valuable Assets.

Perhaps you may feel that you don’t need renters insurance coverage because you don’t have any valuable possessions. This is a mistake. Any item that you own holds some value. That’s why you need coverage. If something were to happen to your items, things could get pricey very quickly without renters insurance.

The Policy Is Restrictive

Many people assume that renters insurance only provides adequate coverage for personal items. You have more flexibility than you may realize. For example, you can add temporary living coverage to your policy so that you will be protected while you seek temporary lodging and your rental property is being repaired.

I Can Rely On My Landlord’s Policy

This is incorrect, as your landlord’s coverage does not protect your personal items if an accident occurs. Your landlord’s policy covers any damages to the building. However, you are responsible for covering your belongings.

Wilcoxon Insurance Inc. Will Help You Protect Your Assets

Visit our website today to learn more information about renters insurance.

Why do I need renters insurance in South Dakota?

Sioux Falls, SD is a great place to live whether you are a homeowner or a renter. As a renter, you may feel safe thinking that your landlord or management company has your back and your insurance. That is only partially correct. Your personal belongings are not covered by any insurance on the apartment, condo, or house you are renting. At Wilcoxon Insurance Inc. in Sioux Falls, SD, we are a locally owned independent agency that provides personalized service to our customers. 

The insurance covering the building you rent only covers the things that come with the rental like the actual structure, the cabinets, doors, and appliances if they are included. Everything you bring in with you, your furniture, decor, and clothing will not be covered. If you don’t have renters insurance, you will have to replace everything yourself. That could be a real hardship. 

Imagine your furry friend gave someone a little nip, or one of your visitors slipped in your bathroom and got hurt. Renters insurance provides liability coverage to protect you from a legal judgment against you, medical bills, and legal costs. 

If your rental was hit by a covered hazard and was no longer habitable, where would you stay? With renters insurance, you would be able to stay in a hotel while you find a temporary rental to stay in until you can move back home. That would certainly give you peace of mind. 

When you are ready to discuss renters insurance at Wilcoxon Insurance Inc. in Sioux Falls, SD, we will be here to help you find a policy to fit your needs and your budget. Stop in and visit us at our office or give us a call to get answers to any questions you may have and a no-obligation quote. 

Servicing States

  • South Dakota
  • Nebraska
  • Iowa
  • Minnesota
  • Arizona

Testimonials

Partner Carriers

  • American West Insurance
  • Dairyland
  • Hagerty
  • MetLife
  • Nationwide
  • North Star Mutual
  • Progressive
  • RLI
  • Safeco
  • State Auto