Renters insurance provides coverage for your lost, damaged, or stolen personal possessions. It also provides coverage for injuries to another person that might occur in your rented home or apartment. For example, if someone is hurt in your apartment, and the injury is deemed to be your fault, that person can file a liability claim with your insurance company to cover the costs associated with the injury.
If the injured person chooses to file a law suit against you, your renters liability insurance would pay for your legal defense, up to the limits set on your policy. If you do not have renters insurance, these costs would be your responsibility to pay out of pocket.
Renters insurance provides financial reimbursement to cover a tenant’s lost or damaged possessions as a result of fire, theft or vandalism. It also covers a tenant’s liability in the event that a visitor is injured on the premises. Whether the renters insurance or the landlord insurance pays for the costs associated with the injury will depend on the circumstances of the incident, the location on the premises where the injury occurs, and who is at fault.
Renters insurance can also provide compensation for alternative living arrangements in the event that your rental unit or rented home becomes uninhabitable due to storm damage or an apartment fire.
Let’s Talk About Your Personal Renters Insurance
Reach out to one of our trusted insurance advisors today. We will help find you the right personal renters insurance to fit your needs. You are under no obligation, we just want to give you some friendly advice.