When renting a home or apartment, you are almost always required to purchase renters insurance. A common misconception when new to renting are liabilities that come with living in a place you don’t own. You are given the responsibility to keep the conditions of the residence as it was when first moved into.
In all facets of life, accidents occur, this is especially true in our homes. Renters insurance shields you from these accidents, accidents that can result in having to move out or even owing thousands of dollars in damages.
Here we dive into some of the most common questions we receive about renters insurance, to help you fully understand your renters insurance policy.
1. What is Covered Under My Renters Insurance?
Most renters insurance policies in Nashville, TN cover the bulk of your personal property, including clothing, furniture, artwork, etc. Your renters insurance will typically cover your items against theft, fire, smoke, explosions and water damage.
2. What Happens if Someone Gets Hurt in My Apartment?
The liability portion of your renters insurance policy covers you for incidents where friends or family experience an accident inside your apartment. However, most insurance companies don’t cover you for anything that happens when you’re renting a place out to someone else, for example AirBnB. If you are renting your place out, make sure to inform your insurance company first to see if you can get coverage.
3. Does My Policy Cover My Roommates Too?
Immediate family and/or your spouse are usually covered in your insurance policy. However, if you have a roommate, you’d better have a good relationship with them. Checks for claims are made out to all roommates living in the house. So remember, their damages are your damages!
4. Is My Stuff Covered if It’s Damaged or Stolen Outside my Apartment
Most insurance policies will cover your belongings anywhere around the world. Whether your items are stolen in your apartment, your car or right out of your backpack, renters insurance has got you covered.
Looking to find the best renters insurance policy for you? Call Royce Williams Agency today! We’d be happy to discuss your renters insurance options.
Get a free renters insurance quote today!