When you rent an apartment or a home, your landlord is usually the one responsible for insuring the property against disasters such as fire and other damages. However, this doesn’t mean that all your personal property is covered in that insurance. You should have your own renters insurance in order to provide coverage to your property in case of any unfortunate events of damage. Let’s take a look at what renters insurance covers and why you should get it:

What renters insurance covers

The coverage offered by renters insurance policy includes:

Personal property coverage-This policy offers you the benefit of coverage from theft and destruction or loss of your personal belongings.

Liability coverage- This offers protection in an event where you are sued by a guest who may be injured in your apartment. If maybe a visitor slips down the stairway and gets injured, this policy will help you pay legal expenses or medical bills.

Benefits of renters insurance

Renters insurance is a policy that every renter out there should have. It has numerous benefits in the coverage it offers:

Theft- When your home or apartment gets burglarized, this insurance policy will help you recover your valuables. However, only listed items in the policy will be protected in an event of break-in.

Natural disasters- This renters insurance comes to your rescue in case your property gets damaged because of natural disasters such as tornado, wildfire, or hail.

Unnatural fires or short-circuit damage- Sometimes you may experience electrical issues that lead to damage of your appliances. If you have insured those belongings with a policy, chances are that you will be fully compensated for the damages.

Guest injuries- Sometimes your visitors may get injured or get bitten by your pet when at your premises and they decide to pursue you for medical bills. It’s in such a case like this where this type of insurance can come in handy and help you cover any medical bills that the guest may incur.

Think of it this way: What is the value of your belongings, and how much would you lose in case of disaster? Perhaps it’s a lot than you could imagine. You need to protect your property by getting renters insurance.

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