When you rent a home or an apartment, your landlord is responsible for insuring the property against damages caused by most accidents, be it fire or storm damage. However, this does not include your personal property, nor does it cover damage that you cause to the home by accident or liability if a guest sues you. Luckily as a renter, you have the option of buying renters insurance, and it is one of the most affordable types of insurance available. Here is a quick guide of what is covered by renter’s insurance. Please give us a call for more information.
Personal property coverage
Renters insurance covers you in the event of theft or destruction of your personal belongings in the event of a fire or other event.
Renters insurance may also cover your personal belongings when they are out of you home for example on a business trip or vactation.
Liability insurance is a part of your standard renter’s insurance policy. This can help protect you if you are sued by a guest injured in your home. Landlords insurance may also cover this but it is better to ensure that you have no issues.
Liability coverage can also pay for damages accidently caused by you or other people living in the home.
Additional living expenses
Of the things that people think of when they think of a fire or flood one of the largest expenditures people rarely think of is where they will stay if their home is damaged. This also goes for rentals.
With proper rental insurance this coverage can help pay for your temporary living expenses until you can move back or be relocated.