Renters Insurance

Renter’s insurance is coverage for anyone who lives in a rented residential space. A business owner can get renters insurance as well. This insurance is to protect you in the event of an accident that damages the property or your belongings. It helps to make sure you are compensated for any losses or damages or protected if someone is injured in your home or office and sues you.

The insurance is for the tenant who is renting an apartment in an apartment building or some other kind of residential structure, or for a business owner who operates inside a rented commercial property.

Renters insurance presents the renter with several options. Personal property coverage insures your personal belongings against theft or damage from a disaster.

For example, if jewelry is stolen from your home, it will be covered in the personal property part of your policy. If a flood or fire damages something in your home, then this will also be under the coverage.

Liability coverage is for the possibility someone is injured in your home or place of business and then decides to sue. Liability coverage is also for damage to other people’s property, like if your child breaks the neighbor’s window.

If you have coverage for “additional living expenses”, then it covers expenses that are necessary for when you are forced to leave your home and find shelter. This is until your home is repaired.

The main benefit of this insurance is that it provides protection for you as a renter. As a renter, the landlord is not responsible for your personal items.