Renters Insurance is affordable and protects
The beauty of renting is being able to enjoy a home without the long term commitment or the responsibility of maintenance and upkeep. Landlords and property owners are indeed responsible for the majority of property dwelling incidents. However, renters are still responsible for damage to their own property in many instances that may be out of their control.
Such liabilities may include:
- Electrical equipment and indoor plumbing incidents
- Sprinkler system activation
- Incidents as a result of wall to wall neighbors
Don’t put renters insurance off for the sake of cost. It is very affordable and less expensive than Homeowner’s Insurance.
A quality policy will include coverage for:
- Contents and personal belongings
- Loss of use in case relocation is necessary
- Liability coverage in the event a guest is injured in your rental home
- Medical coverage if medical attention is needed
If you’re trying to estimate the amount of renters insurance coverage you will need, simply estimate the value of your personal belongings and that is the coverage amount you should select. Keep in mind, some policies do require a minimum coverage amount.