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Renters Insurance

Understanding Renters Insurance

Renters insurance is property coverage for the belongings of people who live in rented space. It covers damage from things such as vandalism, fire, theft, and natural disasters. Some renters coverage also includes liability, which helps if someone sues you for an injury received in your apartment. Property stolen from your car while parked on the rented property is possibly covered as well.

Renters Need Coverage

Anyone who rents a house or apartment should have renter’s insurance. If you have no belongings, then you might not really need this coverage. But it’s particularly beneficial to renters who have a substantial amount of valuables. Your landlord’s insurance doesn’t cover your belongings. So you’re vulnerable if you don’t purchase your own coverage.

How it Works

You submit a claim to the insurance company when you need assistance. The insurance company will check your claim, and either approve or deny it. You’ll always have to pay a deductible if your claim is approved. You’ll also have to pay a monthly premium to keep the policy active.

Types Of Coverage

Renters insurance typically provides personal liability coverage, loss of use coverage, and personal property coverage. It’s possible that some insurers won’t offer all three forms of coverage, so make sure you know what’s available. Going without renters insurance leaves you vulnerable. The cost of the policy is worth it because it provides valuable protection.






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