With the increased frequencies of claims happening around our city, I thought today’s topic of Renters Insurance would be a great choice. Do you know why you need Renters Insurance?  It is not just something people in apartments need. All persons renting a home or an apartment need this coverage.

Renters Insurance is designed to protect your Personal Property and you against possible Liability Claims.   What does that mean? It means should your personal property be lost, stolen or damaged in a claim you have coverage to replace your property. It also means that if you are at fault for the damages to the rented property the landlord can hold you responsible for the repair bill. For example, you are running water in the tub and the phone rings. You leave to answer the phone forgetting the running water. As a result the bathroom floods causing damage to the walls, floors and cabinetry. You, the tenant, could be forced to pay for these repairs. With your renters policy Liability Coverage, your insurance will handle the claim on your behalf, less your deductible.

Renters policies also provide you with Loss of Use Coverage should be displaced during a claim process. Using the same example above, while the workers are your home repairing the damage you need a place to stay.  This is where the Loss of Use Coverage comes in. Your insurance company will cover your temporary housing to policy maximums while this repair takes place.

There are many examples of how renters coverage can benefit you. What happens if your neighbor accidently causes a fire and the whole building burns down? You have lost everything you own. Now you are left with nothing but the clothes on your back and your memories. How do you start over? You can if you have Renters Insurance.

What if you left your IPad and phone in the car while you run into the store to grab some groceries? You return to find your car window busted out and your personal possessions stolen? Regardless of your coverage on your Automobile, your personal possessions are not covered. If you have Renters Insurance, your stolen items are covered.

For a very low cost you can protect yourself and your family from the unknowns in life.  Having Insurance should provide you with Peace of mind. We never want to use it, but it is great knowing we can if we have too.