Renters Insurance

Renters Insurance

Renters Insurance, sometimes called a Tenants Policy, covers your personal property, such as clothing, furniture and electronics in case of perils like fire, theft or wind damage from a hurricane. It may also provide liability coverage, medical coverage, and temporary living expenses.

Even though you don’t own the building, it’s still your stuff, and you might be surprised with how it adds up. Your landlord’s insurance usually covers only their building and property.  Landlords policies rarely cover anything of yours. Renters insurance covers your furniture, clothes, pots and pans, and most of the items you need to live.   Basic jewelry and electronics are usually covered.  Check with your insurance carrier if you have pricy items or large collections.

Liability insurance can help pay if a guest is injured in your home and sues you for damages.  A serious injury can bring a very large suit.  Liability insurance can also offer coverage for non-automobile accidents caused by you and your family.

Living expense coverage pays all or part of the cost of a place to live if your home becomes unlivable.

My local area has had two major apartment fires in the past few months. In both cases, a fire started at one end of the building and destroyed everything…if it didn’t burn, it was soaked with water. Residents lost everything, including their place to live.

Prices are moderate and just like any other type of homeowners insurance, premium costs depend on many factors like where you live, your deductible, your insurance company, and whether you need any additional coverage.