Unless you are sure your property is covered by someone else, for example your parents, you need Renters’ insurance. Don’t assume that your landlord’s insurance covers your personal belongings, because it doesn’t. Your landlord probably has insurance that covers only the building. The landlord’s policy does not cover your liability to others (someone else’s injury or damage for which you may be held responsible).
Renters' insurance covers personal belongings for their actual value at the time of the loss but we usually endorse the policy to cover on a replacement cost basis. There is limited coverage for furs, jewelry, money, collections and other specific valuables. These special items may be specifically scheduled and covered separately. The renter’s policy usually insures your household contents and personal belongings against losses from:
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We can add coverage for perils such as flood, earthquake and/or backup of sewers and drains. See our coverage options page for a more comprehensive listing of available coverages.
Additional Living Expenses
Your renters’ insurance will also pay for any increase in living expenses when your residence can not be occupied because of damage caused by events previously listed. For example, the policy would help in paying for a hotel and food in restaurants while you are out of the apartment or unit that is being repaired.
Liability to Others
The liability coverage in a tenant’s policy applies at home or elsewhere (except automobile) to injuries or damages caused by you, a member of your family, or even a pet. It includes coverage of legal fees in the event you are sued.
Determining Your Insurance Needs
Estimate what it would cost to replace your property. Think of your kitchen items, furniture, clothing, jewelry and accessories. The minimum coverage amount we can provide is about $15,000.
To protect your home contact our personal lines advisors Debbie Hayes or Becky Hedgspeth today or Get a Quote Now.
