Whether you call “home, sweet home” a rented house, condo or apartment, you can avoid financial hardship by protecting your belongings with renters insurance. Renters insurance provides protection against both property loss and liability (if that you cause injury or property damage).
Renters insurance covers your possessions against damage from disasters such as fire, smoke, lightning, vandalism, theft and water damage (but not flooding). It also extends beyond on-premise theft and hazards, covering property that is stolen from your car or lost or damaged anywhere you happen to be.
In addition to protecting your personal property, renters insurance also protects you in the event that you are responsible for injury or property damage to others. That means you will likely be protected if someone slips and sprains his or her ankle at your annual birthday bash.
There are two personal property coverage options to choose from: replacement cost value or actual cash value. Check out the “In the Know” article to the right to find out more about these coverage options.
If you have valuables such as expensive jewelry or collectibles, an endorsement to a renters insurance policy can add to the policy’s provisions. This means that in the event of a covered loss, the amount of insurance is enough to cover the repair, replacement or cash reimbursement of the item. That also means that your expensive camera equipment or wedding ring can be covered, too.
Renters insurance is surprisingly affordable, too! For about the same cost as going to the movies once a month, you can gain peace of mind…regardless of life’s unexpected mishaps.