Why Purchase Renters Insurance?
Just because you don’t own the dwelling where you currently live doesn’t mean that you don’t have valuable possessions that need to be insured. Renters insurance is designed to cover those who rent a living space so that they have compensation should they suffer a loss of property.
Renters policies cover you for a loss when certain perils cause the loss. For instance, if your property is damaged in a storm, a fire or by a discharge of water, a renters policy would provide coverage.
Clothes, furniture, electronic items and other valuables are all covered personal property under a renters policy. You can receive varying levels of coverage depending on the value of your possessions.
A renters policy also provides coverage if your valuable possessions are lost or stolen. You will also have coverage for items lost or stolen when they are off premises. If items are stolen out of your car, your renters policy covers that type of loss.
When you are a renter, you will also want to have coverage in case a loss causes you to have to move out of your house or apartment for a period of time. Loss of use is part of most renters policies. This provides you with coverage for your additional living expenses while you are out of your dwelling.
If you own a dog, you will want to have coverage should your dog bite or harm another person. Renters policies provide liability coverage in case someone is injured in your home or apartment or if they are bitten by an animal that you own.
Renters policies also will have optional coverages available above and beyond the standard coverage levels. If you own some very expensive jewelry, you can purchase additional coverage to protect you in case of loss or theft.
As you can see, there are a number of important benefits to having renters insurance. It provides you with the peace of mind that you are covered should an unfortunate event cause problems in your life.