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Renters Insurance

Renters insurance is as important as auto insurance for your car, or health insurance for your body. If you rent a home, it’s important to realize that your landlord’s insurance doesn’t cover your personal possessions. In fact, your landlord’s insurance provides you with very little protection.

What it is

This is insurance to protect mainly two things: your material possessions, and your liability if someone is injured while at the property you’re renting.

Who it is for

It’s for anyone who rents a house, condo, townhome, apartment, or mobile home. When you rent, you don’t need to protect the property as that’s your landlord’s job, but you do still need to protect your possessions.

How it works

It works much like any other insurance you may have. You pay your premium, and if or when you need to file a claim, the insurance will pay out for the damage, destruction, or theft of your possessions. There may be a deductible, in which case, the insurance company will pay you the agreed upon amount, minus the amount of the deductible.

Different types of coverage in existence

There are 3 basic types of this coverage:

  • Personal possessions
  • Liability
  • Additional living expenses

In the event of a fire, flood, vandalism, theft, or other covered situation in which your possessions are damaged, destroyed, or taken, this insurance will pay for their replacement.

Liability covers medical bills if someone is injured while at your home. It also provides coverage if, for example, your kids ruin a neighbor’s expensive table.

Additional living expenses provides you with coverage in the event your current home is destroyed by a covered event. It pays for you to live elsewhere while your home is rebuilt. It only pays the difference between your usual living expenses and the additional amounts.

Major benefits

Renters insurance keeps you from having to pay out-of-pocket to replace an entire home’s worth of possessions in the event of a disaster. It protects you when someone is hurt, or when you or someone else in your family damages or destroys someone else’s property. It provides peace of mind.






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