Does Renter Insurance Cover Theft?

Tenants of houses or apartments also have insurance privileges. They may count on their renter insurance for security, especially at unexpected times that may affect their properties. In the event of mishaps, this is what the said insurance could do and what it covers. ​

Its Coverage Types 
Renter insurance should take care of what you own and what you do. It has three  types:

• Personal property
• Liability
• Additional living expenses

Personal property covers the cost of how much is needed to replace or fix your things. Meanwhile, this insurance should also protect you through liability coverage when you accidentally damage someone else’s property. Your insurance may also cover your living expenses if you temporarily leave your place due to a disastrous incident. 

Personal Property Coverage
This coverage is a standard unit of your renter insurance, and it applies to selected risks. It includes lightning, smoke, vandalism, explosion, fire, windstorm, and other types of water damage.   Suppose that your table was damaged by fire. Part of the insurance coverage is to help you pay for replacing them. The costs they will pay should align with your set coverage limits. 

On Covering Theft
One of the most common perils you may experience at home is the risk of someone breaking into your place. If this happens and your renter insurance policy is subscribed to personal property coverages, it may assist you in your stolen goods. The insurance privileges should also apply to stolen things in and out of your rental property.

Setting Up Your Coverage Limits 
Maximizing the perks of this insurance has its limitations. Depending on your situation or preference, you can set your coverage limit, which is the utmost amount your policy will pay for what you lost.  You have to assess the value of the things you have at your house to determine how much personal property coverage fits you.   

Conclusion
The renter insurance may offer you security against theft, provided your insurance policy has personal property coverage. It helps you pay for the replacement of the items you have lost. The amount that they can give you depends on your coverage limits. 

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.