4-4-11 154If you are renting a home or apartment, you may think that any damage will be covered by the owner’s insurance. Though homeowner’s insurance will cover structural damage to your living space, it will not cover your belongings and property. To protect yourself if your home is burglarized or damaged, you need renter’s insurance.

You Own More Than You Think You Do

Take a look around your living space. What would it take to replace everything if there were a fire tonight? Imagine your laptop, your television, your clothes, your bed–all gone in one night. Renter’s insurance will give you the money you need to replace the items you lost. A small monthly payment can pay off big when you need it the most.

Liability

If someone is hurt in your apartment, you may be responsible for the resulting medical bills. If a repairman trips and falls on a badly placed rug in your apartment, you are liable. Renter’s insurance would cover such an accident. If you caused a fire in your building, the damage will be your responsibility–renter’s insurance is your financial lifesaver in situations like this.

Displacement

If your apartment or rental home is damaged so severely that it is no longer considered livable, renter’s insurance will cover the cost of a hotel or other lodging. All policies have limits, but if a hurricane stripped your home off the ground, at least you would have the means to cover a temporary place to stay.

Can You Afford Not to Have Renter’s Insurance?

If you think renter’s insurance is too expensive, shop around. You can generally find a policy for an annual fee of about $120. You may even receive a discount on your car insurance if you use the same company for both policies.

More landlords are requiring their tenants to purchase renter’s insurance, but 81 million people who rent their homes are uninsured for their own contents. Individual items can cost more to replace than you think. Even if your landlord does not require it, you should protect yourself financially with a renter’s policy.

Renter’s insurance protects the personal property within your home or apartment much like homeowner’s insurance would. Fire, theft, vandalism, and water damage would be covered, but flood or earthquake damage may cost extra. Your financial interests would also be protected in case of an accident that you might be held accountable for.
If you are a homeowner or a renter who is looking for a insurance restoration company in Florida to cover potential damage to your home, contact us today for a quote.