Many renters do not realize they have so much to lose, whether it is personal belongings or financial loss due to legal liability. If you do not already have renter’s insurance, you may question its importance and the coverage it provides. Check out some common questions & answers below. You might be surprised to learn just how much you risk losing without proper insurance for both your personal liability and personal belongings.
Do I need renters insurance even if my landlord has insurance?
- Yes! Although your landlord almost certainly has property and liability insurance, your landlord’s policy doesn’t cover the items that you keep inside your apartment, and it doesn’t protect you if a guest is injured and sues you for liability.
What Does Renters Insurance Cover?
- Renters Insurance covers more than just your belongings that are damaged by a fire, or if the home is hit by lightening, or if you experience smoke, windstorm, or hail.
- You are also covered in the event of theft, or if someone is injured in your apartment.
- Should your house become uninhabitable, your renters insurance will cover increased living expenses.
- And finally, if you lose property while traveling, your renters insurance will cover that, as well.
What are the Perks of Having Renters Insurance?
- Peace of mind in the event of theft, or some other problem with your rental unit.
- Medical payments to others who are injured in an accident arising from your premises or personal activities.
- Personal liability for bodily injury, property damage or personal injury claims brought against you anywhere in the world.
- Bundle your renters insurance with your auto insurance and you will barely even notice the modestly increased cost.
Call our office today, at 765-935-5655, to learn more about renters insurance!