If you are staying in a rented home or apartment, then you cannot rely on your landlord to protect your personal belongings or step in when a personal liability issue arises. That’s where renters insurance comes in. This type of policy works in a similar manner to a standard homeowners insurance policy. However, instead of providing coverage for your physical building, renter’s insurance centers its coverage on your personal property and liability risks. Renters insurance protects your belongings against the risks of fire, damaging weather conditions, theft, vandalism, and other physical dangers. Additionally, renter’s insurance will cover your financial and legal costs if you are deemed liable for causing bodily injury or property damage. Finally, in some cases, your renters insurance can even provide coverage for additional living expenses.
Personal Possession Insurance
This type of policy protects your personal belongings against the risk of physical damages and the threat or vandalism or theft. Please be aware that this type of insurance does not provide coverage if your items were damaged by a flood or earthquake. Supplemental policies are necessary to protect against these specific risks.
Liability insurance protects you if you are found responsible for causing bodily injury or property damage. This type of insurance can also protect you if your family members of pets are responsible for a liability issue.
Additional Living Expenses Insurance
If your building experiences damages that make it uninhabitable, this type of insurance will cover the costs associated with living elsewhere. For instance, additional living expenses insurance can reimburse you for hotel expenses, restaurant meals, and other expenses you might wrack up while your home is being rebuilt.
If you want to get the renter’s insurance you need, Action Insurance Group has your back. Contact us to learn more about what renter’s insurance can do for you.