What you should know about Renters Insurance 

Across the United States, many people are opting to rent out living spaces instead of owning them because of career flexibility, home flexibility, and other benefits. However, many of these same people are not taking advantage of renters insurance. 

Are you one of these people? 

What is Renters Insurance?

When you think of renters insurance, what comes to mind? Do you feel that it might be a waste of money? Well, that’s not the case because renters insurance is definitely worth it to protect you against the unforeseen future. 

More specifically though, renters insurance is the type of insurance that provides coverage for you and your property that is not included in landlord’s insurance policies. 

Many people have good faith that their landlords have the right insurance they need and don’t purchase renters insurance.  Sadly, if calamity happens and you don’t have renters insurance, you could lose the majority of your belongings. 

The Fine Print about Renters Insurance

Renters insurance is a guarantee that the insurance company will compensate you if a covered incident occurs. In most cases, the insurance company will determine if the incident is covered or not. 

The following are incidences that are commonly covered with a renters insurance policy: 

Theft

Most renter’s insurance policies include some type of provision for theft. If personal belongings are stolen from the place you’re renting, file a claim. You could receive money to replace the items that were stolen. 

Injury

Most renter’s insurance policies will cover injuries. The insurance plan your landlord holds may include injuries, but it is usually limited to the grounds of the property and not within the confines of the living space. 

For example, if someone visits your home, trips over a piece of furniture, and sprains an ankle, then your renter’s insurance will help cover the medical treatment.

Flood and Fire

Along with theft and injury, renter’s insurance also protects the policyholder in the event of a flood or fire. Renters insurance can provide the financial assistance you’ll need to replace furnishings and other belongings. Additionally, some plans will even provide funds to pay for temporary housing.

You can live without buying a home, but you cannot live without renters insurance. Call us today to see your options for quality and affordable renters insurance. 

Woodhome Insurance

Home – Auto -Business

(410) 580-2800

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