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Renters insurance refers to property insurance that protects tenants who live in a rented dwelling. Coverage is provided by insurance companies in exchange for premiums paid by people living in apartments, single-family homes, and condominiums. Policies provide coverage for an insured party’s personal property as well as liability claims that are not due to a structural problem with the property.
Renters insurance refers to property insurance that protects tenants who live in a rented dwelling. Coverage is provided by insurance companies in exchange for premiums paid by people living in apartments, single-family homes, and condominiums. Policies provide coverage for an insured party’s personal property as well as liability claims that are not due to a structural problem with the property. These kinds of policies also cover living expenses that need to be paid out when someone makes an insurance claim after their unit is damaged. Although renters insurance isn’t a legal requirement, some landlords prefer their tenants to have some type of coverage.
Types of Health Insurance
Are your personal belongings protected?
You might think that your landlord’s insurance covers your personal possessions. However, that only covers the building itself. Renters insurance is the only way to protect your valuables, and it’s much more cost-effective than you’d think.
What your renters policy can do.
There are two parts to renters insurance. The first is property coverage for damage or loss from certain unexpected events. Be sure to check your renters insurance coverage details–there will usually be both an overall limit on the payout and a maximum amount for any one renters insurance claim. Here are a few examples of what can be covered in a renters policy:
- Fire
- Theft
- Lightning
- Wind/Hail