You may call it renter’s insurance or apartment insurance – it is an insurance policy which covers your property both inside and away from your rental house or apartment.
If you rent a house or apartment, they are not responsible for any theft, destruction, or damage to your personal property, regardless of whether it’s lost in a burglary, fire, severe storm, or flood. While renter’s insurance may not cover all kinds of loss, there are many kinds of loss it does cover.
Renter’s insurance covers the things you own inside your rental home or apartment, such as televisions, computers, other electronics, furniture, personal effects, bicycles, and clothing. Renter’s insurance might also cover things you own in your garage, on your deck or patio, and in your driveway.
Your renter’s insurance policy coverage may also extend to property in your vehicle also. If your laptop or tablet is stolen from your car, it may be covered.
What does Renters Insurance Cover?
Renters insurance may cover losses including:
- Fire or smoke damage to your personal property
- Damage or loss caused by people, such as thefts and burglaries, vandalism to your property, or vehicle accidents
What Doesn’t Renters Insurance Cover?
Renters insurance may not cover:
- Damage caused by subsurface water, natural surface water or flooding
- Business pursuits or professional services you provide from home
- Motor vehicles you own, including boats, aircraft or autos
Renters insurance can save the day when you need it. If there was a fire, theft or a natural disaster, a policy may help cover:
- Replace your personal property, from electronics, furniture, clothing, etc.
- Provide living expenses, possibly including the cost of living elsewhere while your rental home or apartment is being repaired.
- Liability protection, just in case you are held responsible for harming other people or destroying property. For example, if you damage someone’s property, liability protection may help you cover repair costs.
At Verrico Insurance Agency, we can help you build a renter’s insurance plan that meets your needs and budget. Plus you may be eligible for a multi-policy discount if you purchase both a renter’s and an auto policy.