It is a highly misconceived notion that renters are protected under their landlord’s policy. It is important to understand that most landlord’s insurance and liability coverage does not include the renter’s property in the event of damage. Furthermore, if someone falls in your home or apartment, your landlord’s insurance will most likely NOT cover the costs if you are sued.
Proper renters coverage is an important part of protecting you and your belongings. Essentially, renters insurance covers everything except the structure in which you reside. Renters insurance is the best way to make sure your possessions are covered, and that you have coverage in the event someone sues you when injured in your home. An adequate renter’s policy can cover possessions like your car when you’re away from home.
In the event of a catastrophe such as fire or burst pipes, renters insurance can cover the living expenses incurred when you must stay somewhere else temporarily. Remember that this type of coverage does not include flood, earthquake or landslide coverage. Ask Royce Williams how to purchase these types of policies separately.
The cost of providing renter’s insurance for you and your family is low, and you can get basic renter’s coverage for about $200 dollars a year. It is the responsibility of the renter to provide coverage for themselves, their family and their possessions. Ask our agency about how to insure your rented home today.