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General
Insurance Agency

500 Mitchell St Clovis, NM 88101

New Mexico Other insurance coverage
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Renters Insurance in New Mexico

In New Mexico, landlords protect their property and so should you. Your landlord’s insurance policy usually covers the building you are living in, but it does not cover your personal belongings. In order to protect yourself if an unpredictable event should occur, you might consider purchasing renters insurance.

What is Renters Insurance?

Renters insurance covers personal items in case of a fire, theft, flood, storm, natural disaster, or other detrimental life events. The insurance is available to compensate you for the loss of your items. Some policies may even cover the cost of relocating if damage to the building was too severe for you to stay in overnight. Our independent insurance agents at General Insurance Agency can help you decide between two types of basic policies.

  • Broad Form is a type of renters insurance that is intended to cover items in case of a specific event. You may be protected if there were a fire, theft, lightening, water leakage, or other unexpected damages occur due to outside influences.
  • Comprehensive Form covers a wide range of events, except what is listed in the policy. You may think about this type of policy if you are living in an area that is prone to floods. Because flooding is a likely event, you would have it listed on the form and recover damages when a flood hits.

Actual vs Replacement Cost

The monetary return is one of the primary things a person should consider when purchasing renters insurance.

  • Actual Cost is the worth of the item at the time of the loss. If your 3-year-old TV were stolen, then you would receive the amount the item was worth at the time.
  • Replacement Cost is the replacement value. The 3-year-old stolen television would be reimbursed for the cost of a similar item at current value.

Contact the Clovis, NM renters insurance agents at General Insurance Agency. We are independent insurance agents that have access to a variety of resources to help you find the right coverage for you.

Servicing these States

  • New Mexico
  • Texas
  • Oklahoma

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