When you choose to rent a home or apartment, your first step should be to purchase a renters policy that will protect your possessions and cover different types of liability that may occur if someone is hurt or injured while visiting your home. You must understand what a renters insurance policy covers, as well as what it doesn’t. Talking to your insurance agent is important.
What Is Renters Insurance?
A renters insurance policy is designed to prevent financial loss if your personal belongings are damaged or destroyed. It also covers you from liability events such as someone falling in your home and receiving an injury that requires medical attention. A renters insurance policy is the safety net that will help you get back on your feet after a disastrous event.
What Does It Cover?
Renters insurance covers your possessions, furniture, clothing, and any valuables you may own. It also provides liability coverage in case someone is injured while they are visiting your home. Renters insurance will cover damage caused by fire, smoke, water, and other types of events that are out of your control. When it comes to water damage, overflowing faucets and other types of plumbing issues are normally not included. If you have questions about what is covered by your renters’ policy, don’t hesitate to ask your agent.
What Does It Not Cover?
Renters’ insurance does not cover damage to the physical structure of the apartment or home. It also doesn’t cover any liability for injuries that occur on the property outside of what you physically possess, as detailed in your rental agreement. Your renters’ insurance does not cover damage to the structure of the property that you may cause; just like with a homeowners policy, you may need to purchase additional specialty policies that cover hurricanes, earthquakes, mold, or flooding.
How Do I Get a Renters Insurance?
If you want to purchase a renters insurance policy, you will need to take a copy of your lease to your insurance agent and fill out an application. You should also bring along an inventory of your possessions, including appraisal forms for any antiques or other valuables you may have. Your agent will ask you various questions about your new home and may even recommend that you install a home security system. Many DIY home security systems are ideal for renters and can be transferred from one location to another in a matter of minutes.
Renting your first home or apartment can be an adventure. Purchasing renters insurance in Portland isn’t difficult if you work with the right agency. Contact our agents at Action Insurance Group today. We can help you work your way through the process and set you up with the best renters insurance policy possible. Call today so that you and your family are fully covered. It’s up to you to make sure your property is taken care of, so apply for your renters’ policy right away.
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