What Does Renters Insurance Cover
Renters insurance, also called home renters insurance for house renters, or apartment insurance, provides coverage against two separate kinds of loss. The first kind of loss that renters insurace covers is the loss of your propery or possession from the “named perils” specifically included in your renters insurance policy. If your apartment building burned down or was damaged in a windstorm and you suffered a loss of everything in your apartment the landlord’s insurance would not cover your personal property.
You may think you do not have enough property to bother insuring but when you add up the replacement value of things like your furniture, your home theater, your computer set up, your musical instruments, jewelry, and clothing the total will be much more than probably think and certainly more than you would want to replace out of pocket. Some renter’s insurance policies will even compensate your for temporary living expenses while repairs are being made to your rental house or apartment building.
Liability Coverage Provisions
The second kind of home renters insurance coverage is liability protection. This provision covers you against the money you would lose as a result of injuries to vistors on your property, which in most cases would be any person that comes across the threshold of your apartment door. Depending on your policy, this coverage can include your injured visitor’s medical costs, plus legal and other associated costs should you gat sued.
Keep Good Property Inventory Records
It’s a good idea to inventory all your belongings and use pictures or video to document everything that you own and keep in the apartment. In the event of a loss your good record keeping could make settling your claim faster and easier, and probably for more money too.
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