Renters insurance protects your personal belongings. Still, it is not something renters feel important to give a thought to. A least number of renters buy renters insurance. Imagine a day when you enter your rented apartment or house to see your personal belongings are either damaged or stolen. Your renters insurance can help you not only during such circumstances, but also at times when you are legally responsible for your visitor’s injury. For not covering the building itself, its premium are relatively inexpensive.
There are a few points to keep in mind before setting renters insurance appointments, if you are looking to buy renters insurance.
- What belongings are covered? Most insurance policies cover furniture, clothing, jewellery, electronics, etc. But it depends on the policy limit. Therefore, before selecting the coverage level, don’t forget to take the value of your personal belongings into account.
- When are you covered? Generally, insurance covers damages or losses occurred due to theft, smoke, fire, explosions or water damages. Storm or flood coverage depends on the policy you buy. Most of the time, your renters policy covers not only the internal damages but also the external. e.g. you may get the same coverage if some of your valuable is stolen or damaged from your car as you would get if the same happened in your house.
- How much liability coverage you need? Renters insurance provides protects your liability by paying the cost of defending you in the court and court pays up to your policy limit.
- Who all are covered? Spouses as well as family members are automatically covered in the renters insurance. But if you want your room-mate to be covered, you are supposed to specify the name in the policy.
- What if there is any repair? Most of the renters insurance policies are responsible to cover the cost of hotel bills, restaurant meals or other expenses, if you are unable to stay at your rented house due to it being repaired. This is only possible if you have bought the policy with an additional living expense coverage.
Mostly while renting a house you feel yourself worry free for not moving the lawn or painting the property. But, think how you will replace all your valuable personal belongings. This is a genuine worry that can be minimized from a renters insurance policy. So, now as you know what thing you need to keep in mind while getting go for your renters insurance appointments, call independent insurance agents and get started looking for the right renters insurance policy.
