Renters insurance
covers damages to your possessions when
you rent rather than own your home.
What Is Renters
Insurance?
If you rent rather
than own your home, having insurance
protection for yourself and your
possessions is still important.
Renters insurance protects you in
situations that everyone can face: fire,
theft, water damage and other unforeseen
circumstances - situations your
landlord's policy doesn't cover.
Renters'
insurance typically provides coverage,
up to the limits you select, for
specialized items and situations,
including:
- --Personal
Property (furniture, electronics,
computer equipment, clothing, etc.)
- --Personal
Liability if someone is hurt,
whether in your home or away from it
- --Damage
to your apartment or home caused by
a covered loss
Imagine going to
dinner or a family get-together and
returning home to be greeted by the
flashing lights of police cars and fire
trucks. Building fires and damage
can happen anytime, anywhere, but with
proper renters insurance, your personal
property inside your apartment will
generally be covered if they're affected
by any of the following:
- --Fire
-
--Smoke damage
-
--theft
-
--collapse of the building due
to weather
-
--water leakage or overflow
-
--freezing of plumbing, air
conditioning and more.
Renters insurance
will protect you from incidents that
occur while you're at home, too, such as
a toaster catching on fire or a friend
slipping and falling while visiting you.
Renters insurance provides coverage for
your own items, and it provides coverage
for other people's injuries or damages
in situations for which you're liable,
as well.
You can't rely on
your landlord's insurance to cover your
valuables - landlord insurance only
covers the building structure and not
your personal property.
Renters insurance,
sometimes referred to as an HO4 policy,
can provide financial protection you
need in case your possessions are
destroyed or stolen, as well as
liability protection if someone is hurt
in your dwelling.
Before you shop
for renters insurance, take an inventory
of what you own to decide what level of
coverage makes you comfortable.
