3 Coverage Components When Getting Renters Insurance

Renters insurance is a type of property insurance covering losses to personal property. It also covers the insured from liability claims. It usually covers injuries that may happen due to the rental's structural problem. Mainly, structural issues are your landlord's responsibility to fix. 
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There is affordable and easy-to-obtain insurance. That's why it's good to get a renter's insurance policy. It will provide peace of mind in case unexpected problems arise. 

What Does Renters Insurance Cover? 
It has three coverage components: liability, personal possessions, and additional living expenses. 

Liability
If someone caused damage to your rented property, you can use liability protection. It covers up to a certain amount if you get sued for an injury incurred by another while in your rented property. Also, it pays for damages that you, your pets, or your family cause to others. 

What's good about this coverage is you can use it to pay for court judgments. If you need to pay for legal expenses, you can ask the agent to activate the policy's liability coverage. 

For the liability coverage, the common policy limit can go up to $300,000. If the liability goes higher, an umbrella policy may be available. You can ask the agent to get a suitable umbrella policy. 

Personal Possessions
As a renter, you can bring as many or as few items to the rental property. It is what is covered under personal possessions. The contents of the rented dwelling are protected against fire. Even theft, weather-related damages, vandalism, and other common household hazards.

It also protects your belongings against losses.  It secures you from damages brought by explosion, hail, riots, and damage. And even by aircraft or vehicles, among others. 

Yet, this doesn't cover damage due to floods and earthquakes. You can add and get flood and earthquake coverage for broader protection. 

Additional Living Expenses
The additional living expenses protect you against incidents not covered under liability. Or personal possessions. If your unit becomes uninhabitable, you will receive money to get temporary housing.

You can use this for hotel bills, temporary rentals, restaurant meals. And other related expenses. The coverage includes expenses while your rented dwelling is under rehabilitation. 

Getting renter's insurance can save you from unnecessary expenses while renting. Remember that your landlord protects their building. But that insurance will not cover your stuff. That's why you need to make sure you have it protected with renter's insurance.

At AllRisk Auto Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (360) 693-4044. You can also request a free quote by CLICKING HERE.