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renters insurance
Just because you don't own the place that you live in, doesn't mean that you don't need coverage for repairs incurred whilst living there. You still need coverage from any unfortunate happenings. Did you know that if someone is injured, or have their property damaged whilst on your rented property, you could still be liable? One of the benefits of renters insurance is that it offers its holders a form of homeowners insurance coverage in the case of liability claims being filed against them. Just because someone hurts themself in your home, doesn't neccessarily mean that you're to blame, and it certainly doesn't mean that you should have to pay.

Many renters don't even get so far as thinking that they are in need of insurance coverage. It is a common misconception that landlord's insurance covers the renters living within their units. Although the landlord's insurance does cover the building itself, it doesn't safeguard your property, or offer coverage in cases of liability suits. In such instances, you are solely resposible for the costs. Don't leave anything to chance, sign up for renters insurance today.

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Renters insurance is pretty much the same as homeowners insurance, with the exception that it doesn't have any kind of dwelling coverage. ( Since a renter doesn't own the property, they have no claim to damages incurred) Renters insurance includes:

  • Contents Coverage: This protects your belongings such as clothes, furniture, etc.
  • Liability: This protects you if you or a family member unintentionally causes damage to someone's property, or injury to their person.
  • Medical Payment: Covers medical payments incurred by anyone injured whilst on your rented property.
  • Additional Living Expenses: Should any unforeseen disaster force you from your rental unit, your bare minimum daily expenses will be covered.

If you rent your home, you should account for all your possessions and try to figure out how much money it would cost you to replace everything you own. This number will tend to be astronomical since most people accumulate possessions through the years. When you compare this rather large number to the cost of a renters insurance policy, it just makes sense to insure your belongings.

* For more information regarding renters insurance, visit www.statefarm.com

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Now that you understand renters insurance, compare it with   HOMEOWNERS INSURANCE

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