Your landlord probably has the building in which you live insured, but that does not mean that your belongings are safe. That is where renter’s insurance comes in. In the unfortunate event that your possessions (ie. clothes, electronics, or furniture) are damaged by fire, water, or theft, you will be able to recover the monetary value stated in your policy.
Anticipating such incidences is impossible because you cannot foresee when a water pipe will burst or an electrical fire will occur. Since such incidences are similar to accidents and are unable to be prevented or predicted despite your best efforts, protection is necessary. The best way to do this is to take out an insurance policy designed for specifically for a property renter such as yourself.
What Does Renters Insurance Cover?
This type of insurance doesn’t just cover your belongings and valuables; it is so much more than that. For starters, did you know you are responsible for any injuries that a person incurs while in your home? Injuries come in various forms, like someone tripping due to a slippery floor or on a loose rug edge. This means that you can be sued in addition to paying for their medical bill. This, of course, is dependent on the nature of the injury and your relationship with the injured party. To be safe from such a personal liability, a renters insurance policy covers these events.
Renters insurance also takes care of belongings you bring with you in your car in the event you take them with you, perhaps for a vacation. Damages to your possessions are also covered whether or not they are under your roof. Therefore, your children can ride their bikes and leave you with the peace of mind knowing that their bicycles are covered in case of damage. Also, this coverage is beneficial if you move and something unexpected happens to your home such as vandalism, fire, or water damage.
For this insurance, you need the services of Skeele Agency, Inc. to point you in the right direction. We also help you obtain coverage for your living expenses should you need to find temporary alternative housing in the event of a disaster.
Renters Insurance Cost
Renters insurance cost depends on the type of policy you decide to take out, with coverage starting as low as $10 a month. This secures your personal possessions inside and out your home, giving you the autonomy to carry around your laptop and other portable possessions without worry. Your damaged possessions and valuables will be replaced by your insurance provider based on the type of coverage you opt for.
This also applies to damage to other people’s property and their medical expenses, which is why it is important to be well informed about your options. Regardless of the policy you choose, obtaining renters insurance is one of the best decisions you will ever make.