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Renters Insurance

Every Tenant Should Have Renters Insurance

Some people prefer to rent instead of buy. There are benefits to renting, but it doesn’t erase the need to have insurance. It is important to secure the right type of renters insurance. Most people don’t even know about renters insurance. Here is your chance to learn what it means.

Understanding Renters Insurance

Renters insurance provides coverage for you not included in the insurance maintained by your landlord. Most tenants believe they are covered by the policy held by the landlord. That is not the case. If anything happens to your personal property, then you are responsible. You are also liable for damages if anyone is hurt while in your apartment.

The Details

Renters insurance is a guarantee that the insurance company will help you if a covered incident occurs. The insurance company will decide if the incident is covered or not. Most policies include provisions for theft. If personal belongings are stolen, then it is possible to file a claim and have the money to replace the items.

Most policies also cover injuries. The plan maintained by the landlord will likely cover injuries that take place on the grounds, but that doesn’t include the inside of your apartment. If someone visits your home, trips over a rug, and sprains an ankle, then your renters insurance will help cover the medical treatment.

Along with theft and injury, this plan also protects the policyholder in the event of a flood or fire. It will provide money to replace furnishings and other belongings, some plans will even provide funds to pay for temporary housing.

As you can see, renters insurance is a wise investment. Talk with an agent to learn more about coverage.