What is Renters insurance and what does renter’s insurance cover? In todays, article we will be discussing on Renters Insurance and every thing you need to know about it. As you know a landlord insurance policy covers only the building but not your personal things. This where renter insurance comes in. Renters Insurance is one of the forms of property insurance that covers losses to personal property and also protects the policy holder from liability claims. It is often called Tenant insurance. This insurance policy covers loss or damage to items in the home in case of a fire, theft, vandalism or any other ugly situations.
Furthermore, Renters Insurance helps to protect you and your personal belongings if the unexpected happen. It protects and cover anything from a studio Apartment, to an entire house or a mobile home. You might feel buying a renter insurance policy is not worth it and that it is a waste of money. But we recommend anyone renting a residence to consider purchasing a renter’s policy. This is because it is the only affordable way to protect yourself from the financial impact of unforeseen events. However, it is not everything it is not everything that cause damage to your property that will be covered. Check the outline below for the damages renter’s insurance covers.
What types of Damage does Renters Insurance Cover?
Renters insurance covers you and your personal assets from several damages that might happen in the home. Some of such damages a renter insurance policy covers includes;
- Smoke Damage
- Water Damage
- Visitor Injuries
The above mentioned are just some of the few damages a renter insurance policy covers. Moreover, some renter insurance companies even offer you an additional coverage to the above listed damages. And that is why it is important, to compare each renter insurance company quote.
What does Renters Insurance Cover?
As a tenant purchasing a renter insurance is very important, this is because it gives you peace of mind. It also saves you from financial loss or debit that might arise as a result of one damage or the other. Below are some of the coverages a renter insurance policy provides you with;
- Medical Expenses
- Personal Property damage such as Electronics and appliances, Furniture, Clothing etc.
- Personal Liability
- Additional Living Expenses
Renters insurance provides a tenant with substantial financial protection against unexpected events, which might affect any of the above mentioned. It even covers your Jewelry collection such as your engagement rings, Wedding bands, diamond bracelet etc. But you will need to specially purchase a jewelry insurance policy for those valuable.
Best Renters Insurance Companies
There are many renters’ insurance companies across the globe and they offer you the best renters insurance policy. Below are some of the best Renter insurance companies you can get a policy with today;
- Geico Renters insurance
- State farm Renters insure
- Assurant Renters insure
- Lemonade Renters
- Allstate Renters insurance
- USAA Renter insurance
- Liberty mutual Renters insure
- AAA Renter insurance
- farmers Renters
The aforementioned are only a few out of the many best renter’s insurance companies. The offer you the maximum coverage you need for your home and some are very affordable. But before purchasing a renter policy with any of the above company, you will need to check out their renter insurance quote.