Searching for a new residence is an exciting process, but it can also be a bit stressful. If you are in the process of finding a new place to live, then a big question to ask yourself is: “Should I get renters insurance?”
Below Are Some Important Things To Think About When It Comes To Considering Renters Insurance
Regardless of the place you choose to live, your landlord is not accountable for insuring your personal possessions. So, here is where renters insurance comes into action.
As A Renter, What Is Covered?
Renters insurance covers your private personal belongings. A renters insurance policy will also pay out for damage to your possessions caused by the wind, smoke, hail, snow, lightning, sleet and ice. Additionally, a renters policy covers you for perils such as fire and theft. Also, if your rental gets to be uninhabitable because of your claim, additional coverage usually exists to provide you added living expenses as the case may arise.
In the event you are found responsible for injuries to a visitor on your property, a renters insurance policy also provides liability insurance coverage to take care of that as well, up to the liability limits on your policy.
What Does A Renters Policy Not Cover?
There isn’t any coverage for flooding and earthquakes on a renters policy. You would need to buy an additional policy that would protect you from earthquakes and flooding. When you take the time actually to look, you may be surprised by the cost involved to replace all of your belongings.
Do an inventory of all items in your home and then add on another 20%. Total losses happen, and when they do, you’ll be grateful that you have sufficient coverage to replace your possessions. Your contents could be worth a lot more than you think. This the reason you should strongly consider buying renters insurance even if your landlord does not require it.
What Is The Cost Of Renters Insurance?
A renters insurance policy is surprisingly inexpensive, often less than a dollar a day. Besides, when you buy renters insurance and your auto insurance coverage, in many cases the multi-policy discount that you are qualified to capture makes the net increased cost of adding a renters insurance policy even more insignificant. Simply put, there is no basis not to have renters insurance coverage if you are renting your residence.
Note: You will need to check your coverage for a complete outline of what is and is not covered.
Are you a resident of Florida? Contact us and we will generate a personalized renters insurance policy that is an ideal fit for your needs.