In most cases, if you rent your home, apartment, or condo, your landlord is not responsible to carry insurance to cover your personal property. Renters insurance provides coverage for personal property at risk due to fire, smoke, lightning, windstorms, theft, vandalism, and any other disasters listed in your policy. In fact, it provides benefits very similar to homeowners insurance, without covering the actual dwelling/structure. In some cases, it may even cover minor improvements a tenant has made to the dwelling.
Renters' insurance on its own does not protect against flood or earthquakes. Supplemental insurance is available for those additional types of disasters.
What Can Renters' Insurance Cover?
- Covered personal property lost through fire, theft, vandalism, and with flood insurance, water damage.
- Living expenses if your home is unavailable due to a covered event.
Wondering how much coverage you'll need? This is usually based on the value of your belongings. The agents at South Lake Insurance Inc. can assist you with estimating the value of your belongings. You'll usually have to pull together an inventory of all items to be covered. This can be lengthy, and should include, furniture, electronics, kitchen appliances, clothing, sports equipment, even towels, bedding, and decor; basically anything that can be lost in a disaster needs to be included. Renters' insurance is usually significantly less expensive than homeowners insurance. You may be surprised at how affordable coverage can be, and raising the deductible may help to lower your premium.
Not sure if renters' insurance is right for you? Contact us today to speak to an insurance agent
Looking to compare insurance quotes? South Lake Insurance Inc. makes it easy with our online insurance quoting tool. Give it a try today. We're here to help you make an insurance decision that provides the coverage you need at a cost you can afford.