you may not own the building, but what about the contents?
What is Renters Insurance?
Before you sign a rental contract, many leasing companies will require proof of renters insurance. This is because they don't want to be liable if anything happens to your belongings inside their building or on their property. In fact, your landlord's insurance coverage does not extend to your personal property. So, regardless of the overall value of your property and whether the leasing company requires it, it just makes sense to get a renters policy.
Renters are at risk for many of the same incidents as homeowners when it comes to their property and personal liability. Renters insurance covers you in the event that your property is stolen, damaged or destroyed. Can you really afford to replace your electronics, jewelry, computers, or furniture, if it is lost in a fire or stolen? Renters insurance can also provide personal liability coverage to protect you from potential lawsuits in case you are held responsible for an incident involving your personal property.
Most renters insurance policies also cover medical payments for individuals who are injured at your home, property damage to others in the event that you cause damage to another person's property, and provide additional living expenses in case you are temporarily displaced from your apartment or home.The good news is that renters policies can be quite cheap.
The most common type of renters policy is created for those who rent the home they live in and protects possessions and/or any parts of the apartment that you own, such as new built-in bookshelves you install, against all 16 disasters. The standard renters policy covers 16 specific disasters, which include:
1. Fire or Lightning 2. Windstorm or Hail 3. Explosion 4. Riot or Civil Commotion 5. Aircraft 6. Vehicles 7. Smoke 8. Vandalism or Malicious Mischief
9. Theft 10. Volcanic Eruption 11. Falling Object 12. Weight of Ice, Snow, or Sleet 13. Accidental Discharge or Overflow of Water or Stream 14. Sudden & Accidental Tearing Apart, Cracking, Burning or Building 15. Freezing 16. Sudden & Accidental Damage from Artificially Generated Electrical Current
Getting the right renters coverage starts with expert consultation. We will review your assets and previous policies, explain the options, and craft a personalized coverage. Plus, our access to the top carriers means that you will get the policy you need at a price you can afford. We look forward to serving you!