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Renters Insurance

 

Renters insurance is a policy that will save you from severe financial loss if your personal contents are damaged or destroyed. It will also provide you with compensation for liability claims, medical expenses, and other amounts that result from property damage and personal injury suffered by others.

The coverages that are included on a renters insurance policy are as follows:

Personal Property Provides protection for property losses to your personal property

Loss of Use Provides financial protection when the residence you reside at cannot be used because of an insured loss

Personal Liability Provides protection for damages because of bodily injury or property damage for which you might be legally liable Medical Expenses to Others Provides protection for necessary medical expenses regardless of whether you are at fault or have any liability

Extra renters insurance coverage options include:

• Valuable Items Replacement

Flood Coverage

Earthquake Coverage

• Identity Theft Coverage

1. Won’t my landlord’s insurance building insurance policy cover my personal property?

The answer to that is no. Your landlord’s insurance policy is only going to cover the landlords interest which is the building and any property that they own inside the building. Without renters insurance you could be left with nothing in the event of a fire or burglary as your landlords insurance will not extend to cover your possessions.

2. Can I be on the same renters insurance policy as my roommate?

This is strongly discouraged as we recommend if you have roommates it is best if you all have separate policies, as you don’t want to be held responsible for someone elses carelessness and negligence due to any loss that might occur.