Renter's Insurance 101! Everything you need to know about Renters Insurance
We decided to take a break from our homebuyer series and focus on a group that tends to be overlooked when it comes to insurance. That is our renter's.
Having been on both sides of this coin... renting looks so good. In a lot of cases you pay your rent and most utilities are included in that rent. In almost all cases though, maintenance is always covered by the landlord or property management company. Making renting much more appealing to people than owning their own home and stressing over the responsibilities that come along with that.
In this new mini-series we are going to cover what a renter's policy will do for you as the tenant. We want to educate our clients and help better protect those who don't own the property but are living there. Each video we release will break down the coverages included in your rental policy. For now, let's look at a brief overview:
Personal Property: a standard component of renters insurance, may help cover the cost of replacing your stuff if it's unexpectedly damaged or destroyed.
Renter's Liability: the portion of your renters insurance that covers damages to other people and their property that you're legally responsible for. For example, liability insurance can cover legal, medical and repair bills after: A guest is injured in a fall in your apartment. Your dog bites someone.
Loss of Use: also known as additional living expenses. It's designed to make sure that a covered loss doesn't cause you to incur additional costs that you shouldn't have to bear.
Join us in a couple of weeks for the first part as we do a deeper dive into coverage for all of your belongings. Renter's insurance can bring the same piece of mind to you as homeowner's insurance does for homeowners. Your most precious assets are covered under this policy at an affordable price. Even more affordable when bundled with your auto insurance!
To learn more about renter's insurance don't hesitate to give us a shout or follow the rest of the series.