While your landlord may have property insurance on their building or home, that won’t do much to help you as the renter if disaster strikes. Their insurance will only cover their physical structure, but does not extend to the renter’s property within it. Investing in renters insurance is a wise choice that can protect your belongings and wellbeing from the possible outcomes of bad events or sudden decisions by your landlord. Additionally, renters insurance has various benefits tucked into a cohesive, effective plan. Your policy can cover:
1. Personal Belongings
Don’t have anything that valuable? Think about the costs you would incur to replace everything you own - your furniture, clothing, electronics, jewelry, appliances, artwork, housewares - it may be a bit more than you expect. Renters insurance can also cover your personal property while you’re on the go.
2. Temporary Living Expenses
If your landlord decides to renovate your apartment, or your building suffers damage from a fire or natural disaster, renter’s insurance will cover your temporary living expenses so you don’t have to. Your coverage will reimburse you for hotel or rent costs for the duration your rented space is uninhabitable.
3. Medical Care
If one of your guests is injured on the property you rent, you can be considered financially liable. However, renters insurance can protect you from the costly medical bills that follow injuries.
Policies may vary, but the nature of renters insurance is to ensure you and your belongings are covered. If you would like to find out more benefits of renters insurance, or are interested in a quote, get in touch with us today. A Danskin Insurance Agent would love to ease any worries you may have about renting and ensure your financial protection.