New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

An Overview of Renter’s Insurance for ABM Industries Employees

Healthcare Provider Update: Healthcare Provider for ABM Industries ABM Industries primarily partners with various insurance providers to offer healthcare benefits to its employees. While specific contracts may vary, commonly engaged healthcare insurers for employee benefits may include Blue Cross Blue Shield (BCBS), Aetna, and UnitedHealthcare, among others. Potential Healthcare Cost Increases in 2026 As healthcare costs continue to rise, employees of ABM Industries should be prepared for significant increases in out-of-pocket premiums in 2026. With the potential expiration of enhanced federal subsidies under the Affordable Care Act (ACA), many employees may face premium hikes exceeding 75%. The perfect storm of escalating medical costs, driven by high drug prices and labor expenses, is compounded by insurer rate increases, with reports indicating some states may see hikes surpassing 60%. Given these factors, careful planning is essential for employees to navigate their healthcare options effectively amidst such financial pressures. Click here to learn more

'This, therefore, means that ABM Industries employees should also consider the financial impact in other aspects, since it is not only a protection for personal items, but also includes liability coverage and comfort that comes with it in case of the unexpected,' suggests Kevin Landis, a representative of The Retirement Group, a division of Wealth Enhancement Group.

'As for the uncertainty of risk factors in life, ABM Industries employees would significantly gain from determining the level of renter's insurance coverage they need, especially for replacement cost coverage,” suggests Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.

In this article, we will discuss:

1. The importance of renter's insurance for personal belongings and liability coverage: Surprisingly, renter's insurance is needed to shield personal items and liability, which are not covered by the landlord's property insurance.

2. Coverage specifics for ABM Industries employees: What ABM Industries employees should watch for, what are the additional features and why it may be beneficial for ABM Industries employees to get replacement cost coverage instead of actual cash value coverage from their renter’s insurance.

3. How to navigate renter's insurance policies: Guidelines for estimating the renter’s insurance needs, some information about the laws and types of policies within the state and peculiarities of living with roommates and the benefits of seeking advice from an insurance agent to make the right decisions.

The importance of renters insurance for personal belongings and liability coverage:

Despite the fact, renter's insurance is important for covering personal items and liability, which are not covered by your landlord’s property insurance.

Coverage specifics for ABM Industries employees:

Some special features for ABM Industries employees, including better coverage options and the advantages of taking replacement cost coverage instead of actual cash value.

How to navigate renter’s insurance policies:

Guidance on determining renter’s insurance requirements, reviewing state laws and policy types, including when sharing an apartment with roommates, and the value of seeking professional advice when making decisions. In some cases, people do not get renter’s insurance because they think they do not have many belongings, or the property is covered by renter’s insurance.

While it is correct that a rental property is covered by the landlord, the loss or damage to your belongings is not. But that is not the only risk that the renter has to face. A standard renter’s insurance policy covers your possessions against loss by fire, smoke, lightning, theft, vandalism, explosion, windstorm, and water damage (excluding flooding).

If you are a ABM Industries employee, no matter whether or not you think your personal belongings are worth insuring (you might think again after adding up their value), renter’s insurance will provide protection against other financial risks. The ABM Industries employees should know that renter’s insurance is to cover the losses and costs of injuring visitors in your apartment or elsewhere by you, your spouse, or a family member. This includes any costs incurred in defending yourself in court.

A renter policy can pay for extra living expenses if you can’t live in your apartment because of a covered loss — say, a fire — though the policy may place restrictions on how much it’ll reimburse. ABM Industries employees should know whether a policy pays for actual cash value (reimburses you for the value of your belongings after deducting depreciation) or replacement cost (pays the actual cost of replacing your items, up to policy limits). Generally speaking, replacement cost coverage is the better way to go.

If you are a ABM Industries employee with expensive possessions like art or jewelry, you may wish to get a policy endorsement added to your standard renter’s insurance policy. The laws and the insurance policies can differ from one state to another. If you are in a relationship or have a roommate, it is recommended to find out how the policy will cover both of you.

If you are still unsure about whether to get renter’s insurance, talk to an insurance agent and get a quote. The peace of mind that protection can buy could prove invaluable in helping to make that decision.