Many renters are under the impression that their landlord’s insurance policy will cover their belongings, unfortunately that generally is not the case. Your landlord’s policy covers the building itself, but it may not include your personal belongings, and may not cover injuries sustained within the structure. That’s where renters insurance comes in. Renters insurance protects your personal property in a rented apartment, condo or home from unexpected circ*mstances such as theft, a fire or sewer backup damage – and will pay you for lost or damaged possessions. It can also help protect you from liability if someone is injured on your property. Renters insurance is similar in scope to homeowners insurance, with the exception that it does not provide coverage for the dwelling itself or other structures. If you experience a covered loss in your rented space, renters insurance can help to cover the associated costs. The amount covered will depend on the type of loss that occurred and the amount of coverage you have. There are two types of coverage options under a typical renters policy: Actual Cash Value coverage and Replacement Cost coverage. Here’s the difference between the two: A renters insurance policy offers you coverage for the loss or destruction of your personal belongings in the event of a covered peril such as: Renters insurance may also cover you if: Get more information about what renters insurance covers. Now that you have a basic idea of what renters insurance covers, it’s important to understand what a basic renters insurance policy does not cover so that you’re prepared: Find out more about the benefits of renters insurance and get a quote online today. Also, remember to always make sure to thoroughly read through your policy so that you have an understanding of what is and isn’t covered.How does renters insurance work?
What does renters insurance cover?
What does renters insurance not cover?
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Insurance terms, definitions and explanations are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in individual insurance contracts, policies or declaration pages, which are controlling. Such terms and availability may vary by state and exclusions may apply.
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