For landlords and their tenants in Milwaukee, WI, our team of insurance professionals at Dern & Company ensures that we recommend the right type of insurance for their situation. Although some folks may get confused about whether they should have renter’s or landlord’s insurance, determining which you want to have can be simple once you figure out the differences between them. Additionally, knowing what each policy might cover can make it easier to tell whether it makes sense for you to file a claim with your insurance or for your landlord or tenant to file a claim for a specific circumstance.

What Is Renter’s Insurance?

Renter’s insurance is a type of insurance policy that covers valuable belongings, liability, and more on behalf of a renter. The person who holds this policy will be a tenant in a rental property like an apartment or rented home. Sometimes, all renters in a home or apartment unit will share a policy, while individual renters in a property who live as roommates may prefer holding separate policies.

What Is Landlord Insurance?

Landlord insurance covers property that a person owns and rents out. As a result, a person must be a landlord to hold it. While every policy is unique, some examples of things that landlord insurance may cover include the structure of the dwelling, liability for which the landlord is legally responsible, and personal property for rentals that include items you own, like furniture or household items in short-term rentals.

How to Tell Which One You Need

As you can imagine, it’s easy to tell what you need when you know what they are. Tenants need renter’s insurance. Landlords, on the other hand, need landlord insurance.

For more information, call Dern & Company in Milwaukee, WI!

When you own a boat, it’s essential that you have boat insurance to cover it. There are a number of types of coverage that you need to have to protect yourself against a wide range of incidents that can happen both on and off the water. The types of coverage offered by boat policies are very much like the coverage you get in an auto policy. Call us today at Dern & Company in Milwaukee, WI if you need boat insurance.

Liability Coverage Types

The bare minimum that you should have in your boat policy is two types of liability coverage. These are property damage liability and bodily injury liability. Both types protect you against costs you can incur when you’re judged to be at fault for a boating accident. Many boaters don’t think much about boating accidents, but they are a common problem that can leave financial devastation in their wake. They each protect you against different types of costs, but both work similarly. If there are injuries, your bodily injury liability coverage will handle those charges. If someone else’s property is damaged, your property damage coverage will cover those costs. 

Comprehensive and Collision Coverage

Collision coverage is what you need to pay for your own property damage after an accident or other incident. Because liability doesn’t pay for your damages, you need this coverage for your repair or replacement bills. You also need comprehensive coverage to pay for incidents that happen when the boat is on land. There are a lot of things that can happen there, and you should be covered just in case of a problem. 

Get Boat Insurance 

If your boat isn’t covered, you aren’t protected. To get your boat policy, call Dern & Company in Milwaukee, WI.

As a parent, several important considerations come into play when your child moves out to attend college. Depending on whether your child commutes to class from home or shifts to a dorm, apartment, or shared living space, you may need to think about renters insurance. Here’s an overview of why renters insurance is crucial and how ‘Dern & Company Insurance’ of Milwaukee, WI, can help.

Landlords Don’t Cover Student’s Personal Possessions

While a landlord may have insurance to shield their own property, they don’t insure the personal belongings of their tenants. It’s the tenant’s responsibility to secure their personal assets.

Renters Insurance Can Be a Lease Obligation

A growing number of property management firms and landlords are mandating tenants to carry renters’ insurance as part of the rental agreement. However, where to buy renters insurance lies within the tenant’s discretion.

Liability Claims Get Covered Under Renters Insurance

Renters insurance is not just about personal property; it also includes liability protection. The tenant (listed on the lease) could be held accountable if anyone gets hurt in a rental property.

Replace Lost Items Through Renters Insurance

Students may possess personal property worth thousands of dollars, from furniture to electronics to clothing. Renters’ insurance safeguards these items from losses stemming from vandalism, theft, fire, or other unexpected events.

Enjoy Added Perks

Renters insurance protects a tenant’s possessions at the rented property and while they are on the road – a hidden benefit worth considering.

Contact Dern & Company

At Dern & Company, our goal is to help families in the Milwaukee, WI area protect their interests through a diverse array of insurance products – including renters’ insurance. To learn more, give us a call at Dern & Company Insurance. We look forward to assisting you.

Only commercial fishing boats are legally required to carry insurance in Milwaukee, WI. However, you may still want to consider adding this protection seriously. If you do not have boat insurance, you will not have protection from any boat-related incidents, including vandalism and theft. Dern & Company can help you explore policies to find one that best suits your needs.

Basic Boat Insurance

Most people who are considering boat insurance look at liability insurance first because that is where they have the highest risks. When you are out enjoying your boat, it can be challenging to remember that accidents happen and that people can get hurt. If your boat accidentally runs into someone else’s, liability insurance could protect you by covering the victim’s property damage and medical bills.

Coverage for Theft and Vandalism

There are several other kinds of protection you can get for your boat. One of the most important kinds of protection you can get is coverage if your boat is the victim of theft or vandalism. If you have an old boat with little value, you may not care, but if your boat is valuable, you should have this protection. Otherwise, you will have to repair or replace your boat on your own.

Contact Dern & Company for All Your Insurance Needs

Protecting your property is important. If you are involved in an accident with your boat, your other assets are at risk, too. If your boat is stolen and you have no insurance, you will need to pay out of pocket for a replacement. If you want to discuss different kinds of protection or compare policies, please contact Dern & Company in Milwaukee, WI, today.

Only commercial fishing boats are legally required to carry insurance in Milwaukee, WI. However, you may still want to consider adding this protection seriously. If you do not have boat insurance, you will not have protection from any boat-related incidents, including vandalism and theft. Dern & Company can help you explore policies to find one that best suits your needs.

Basic Boat Insurance

Most people who are considering boat insurance look at liability insurance first because that is where they have the highest risks. When you are out enjoying your boat, it can be challenging to remember that accidents happen and that people can get hurt. If your boat accidentally runs into someone else’s, liability insurance could protect you by covering the victim’s property damage and medical bills.

Coverage for Theft and Vandalism

There are several other kinds of protection you can get for your boat. One of the most important kinds of protection you can get is coverage if your boat is the victim of theft or vandalism. If you have an old boat with little value, you may not care, but if your boat is valuable, you should have this protection. Otherwise, you will have to repair or replace your boat on your own.

Contact Dern & Company for All Your Insurance Needs

Protecting your property is important. If you are involved in an accident with your boat, your other assets are at risk, too. If your boat is stolen and you have no insurance, you will need to pay out of pocket for a replacement. If you want to discuss different kinds of protection or compare policies, please contact Dern & Company in Milwaukee, WI, today.

Many dream of being a business owner in the Milwaukee, WI, area. If you are starting or running a business here, you need to know and manage many vital facets. One crucial part is insurance. There are various aspects of commercial insurance that a business owner needs to know. 

Types of Insurance

When you build a commercial insurance plan, knowing the types of insurance available is important. You select a policy based on your business’s needs. Some of the kinds of insurance to consider include the following:

• Liability insurance provides commercial liability coverage for a business. This offers coverage for bodily injury, property damage, and other injury claims against your company.
• Property insurance offers coverage for all assets owned by your business. This includes protection for your place of business, inventory, and other assets against fire, theft, and other risks. 
• Workers’ compensation offers coverage for your employees if they are injured while on the job. 

Requirements

It is also essential to assess your insurance requirements. Most businesses will be required by other entities to get insurance. This can include requirements set by lenders, real estate owners, investors, and other stakeholders. If you have employees, you may be required by the state of Wisconsin to carry worker’s compensation insurance. Following such requirements is important and will keep you in good standing. 

Anyone who plans to own a business in the Milwaukee, WI area should call our team at Dern & Company. We offer various services to help ensure you build a plan that meets your needs and protects your organization. 

At the core of renters insurance policies is personal property coverage. This coverage in and around Milwaukee, WI serves as a cornerstone by protecting your possessions, including furniture, electronics, clothing, and other personal items, from various potential risks. Here’s how this coverage works:

1. Protection Against Common Perils: Renters insurance offers protection against prevalent risks such as fire, smoke damage, vandalism, theft, and specific weather-related damage. If any of these events cause harm or destruction to your personal property, your renter’s insurance policy steps in to help you recover the value of your losses.
2. Actual Cash Value vs. Replacement Cost: When insuring personal property, you can choose between two types of coverage: actual cash value (ACV) and replacement cost coverage. ACV coverage reimburses you for the present value of your items, considering depreciation. In contrast, replacement cost coverage covers the expense of replacing your belongings with new ones of similar kind and quality without accounting for depreciation. While ACV coverage is often more affordable, replacement cost coverage provides more substantial financial protection in the event of a loss.
3. Off-Premises Coverage: Renters insurance doesn’t limit its protection to your rental unit alone. Possessions are covered even if what is stolen was not on the premises. This means that if your laptop is stolen from your vehicle or your luggage goes missing while you’re traveling, your renter’s insurance can assist in covering these losses.
4. Customized Coverage Limits: Renters insurance policies are adaptable to your specific requirements. You can select the coverage limit for your personal property, ensuring ample protection according to the worth of your possessions. 

Dern & Company LLC Can Help You

At Dern & Company, we can help answer questions concerning renters insurance. We serve the Milwaukee, WI area. Contact us today.