If you are renting an apartment or a room you may assume that you are covered under the homeowners or commercial property insurance of your landlord. Though they may have a policy that recognizes them as a landlord, their policy more than likely does not cover your personal belongings or liability as to their tenant.
Protect yourself when renting. Affordable renters insurance is available to help you avoid serious financial snafus after disasters or accidents in the home. Reach out to R & R Property & Casualty Insurance Agency to learn more about why renters need protection too.
Disaster and Damage on the Premises
As a renter, you know much of your home life is under the complete control of your landlord. Sometimes this is great, like when they hire a company to shovel the snowy walkway before you’re even up for work. Sometimes this is less than desirable, like when they ignore your requests to fix a leaking pipe for six months.
When that pipe inevitably bursts and floods your apartment, your landlord’s insurance is not going to cover more beyond the restoration of the building. Your damaged furniture, clothing, electronics, and the cost of living elsewhere during clean-up will all be on you.
That’s why you need to have renters insurance. Like most insurance, the cost of premiums is far less than the value of the payout.
Stolen Items Elsewhere
One thing many don’t realize is covered by renters insurance is your belongings outside your place of residence. Say your car is broken into and your laptop bag was stolen. With the right renter’s insurance coverage, you may be able to get this replaced.
If you travel frequently with expensive items, getting a renters insurance policy to cover these is a smart move.
Liability
The costliest issue you can run into in your own home—as a renter or homeowner—is a liability for injuries or accidents on the property. As a renter, it is extra important to get covered for liability as you may be responsible for both damages you cause to the property or injuries that occur in your occupied space.
If your friend is visiting and slips inside your apartment, depending on the circumstances, you may be held liable for their medical bills, not the landlord. Carrying adequate renters insurance can help you avoid the frustration of a drawn-out legal process that seeks to find you liable.
Get Renters Insurance
Renter’s insurance is one of the most affordable insurance options on the market, often available for under $20 a month. Add up the total of your belongings. Factor in the cost to replace them all at once if you experienced a disaster like an apartment fire. You’ll find that the cost of a year’s worth of premiums barely scratches the surface of the value of your belongings.
At R & R Property & Casualty Insurance Agency, we are dedicated to protecting our clients in their homes whether they rent or own. Reach out today at (760) 244-5684 to find out more about getting the right type of renters insurance to cover your space and belongings.