Why MDU Resources Group Employees Should Consider Renter's Insurance: Managing Your Personal Belongings and Financial Future

Healthcare Provider Update: Healthcare Provider for MDU Resources Group MDU Resources Group, a utility and construction services company, primarily partners with various healthcare providers and insurance companies that serve its employees, including Blue Cross Blue Shield and UnitedHealthcare for healthcare coverage options. Brief Overview of Projected Healthcare Cost Increases in 2026 As we approach 2026, healthcare consumers face significant challenges as premiums for Affordable Care Act (ACA) marketplace plans are projected to rise sharply, with some states reporting increases exceeding 60%. The anticipated loss of enhanced federal premium subsidies coupled with escalating medical costs is creating a perfect storm for healthcare expenses. According to industry experts, without congressional action to extend these subsidies, over 22 million enrollees may experience out-of-pocket premium hikes of more than 75%, underscoring the need for proactive financial planning for healthcare in the coming year. The landscape suggests that the combination of heightened rates and diminished financial assistance could push many families toward more financial strain in 2026. Click here to learn more

Renters sometimes overlook the need for insurance based on the belief that they may not have a significant amount of personal possessions, or because the property is already insured by the owner.

MDU Resources Group employees must note how while it is true that a rental property is insured by the owner, the destruction or loss of your personal belongings is not. But, that’s not the only risk renters need to worry about.

The typical renter’s insurance policy can cover your possessions against losses arising from fire, smoke, lightning, theft, vandalism, explosion, wind storm and water damage (excluding floods).

If you are employed at MDU Resources Group, even if you don’t believe that the value of your personal possessions warrants insurance protection (though you may think differently after an inventory of their value), renter’s insurance covers other potential risks that can adversely impact your finances.

MDU Resources Group employees must note that renter’s insurance is designed to cover damages and costs in the event that visitors are injured in your apartment or elsewhere by you, your pet, or a family member living with you. This includes any legal defense expenses if you are taken to court.

A renter’s policy may also cover additional living expenses should you be unable to live in your apartment due to a covered peril, such as fire, though the policy may set limits on how much you will be reimbursed.

MDU Resources Group employees should make sure to know whether a policy insures for actual cash value (pays to replace your possessions after reducing for depreciation) or for replacement cost (which pays the actual cost of replacing items, up to policy limits). In most cases, replacement cost coverage is the smarter option.

If you are employed at MDU Resources Group and have any possessions of particularly high value such as art or jewelry, you may want to add a floater to the standard renter’s insurance policy.

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If you are living with a roommate or domestic partner, you should inquire how the policy is expected to cover both parties as state regulations and insurance policies may vary.

Renter’s insurance is usually quite inexpensive, so if you are unsure whether to purchase a renter’s policy, talk to an insurance agent and obtain a quote. The low cost of protection may make a smart decision easier.