A Renter Insurance policy provides many of the same coverage benefits provided by Homeowners insurance. It is intended for tenants renting an apartment, home or structure. With it, you can ensure your personal possessions will remain protected in the event that of a theft, accident and more.
This type of insurance helps to replace the renter’s belongings in case of a covered incident. If you are a renter, you may be surprised to know how much your belongings are worth. Renter’s insurance will also cover the following scenarios:
• Personal liability
If you are sued because a person was injured in your rental apartment or home, or if you unintentionally hurt someone, Renter’s insurance provides coverage for your legal costs.
• Medical payments
Renter’s insurance will cover medical payments to a predetermined limit if a visitor to your rental is injured on the property.
• Property damage
Rental insurance will follow you when you leave your rental. If you unintentionally damage or break another person’s property, your renter’s policy will help pay to repair or replace it.
• Supplementary living expenses
If you are unable to stay at your rental because of a covered incident, renter’s insurance may help you pay for another place to stay.
There are quite a few types of perils that a Renter’s insurance policy will cover:
• Windstorm or hail
• Fire or lightning
• Riot or civil commotion
• Damage caused by vehicle Explosion
• Damage caused by aircraft
• Aolcanic eruption
• Vandalism or malicious mischief
• Weight of ice, snow, or sleet
• Falling objects
• Accidental damage to utilities in the home
Renter’s insurance protects your personal and valuable possessions. Without the coverage, your belongings could be lost permanently to fire, theft, burglary and more. A Renter’s insurance policy will ensure that you and your family will be able to replace clothing, furniture, food, and even vehicles if need be.