With so much uncertainty, it’s ‘better to be safe than sorry’ has never run more true. If you own valuables, it may be worth looking into renters insurance.
A renters insurance policy is designed to help protect renters living in a house or apartment. A typical renters insurance policy includes three types of coverage that help protect you, your belongings and your living arrangements after a covered loss. Read on to learn how each type of coverage works.
What Does Renters Insurance Cover?
Renters insurance helps cover unexpected events — otherwise known as covered perils. You may not always be able to prevent certain situations spontaneous situations such as a theft and that is where renters insurance comes in. The following are three types of coverages in a renters insurance policy.
|Coverage Type||What It May Cover||What’s Typically Not Covered|
|Personal Property||The cost to repair or replace your belongings, such as clothing, furniture and electronics, up to the limits in your policy||Personal property loss over your coverage limit|
|Liability||Repairs if you accidentally damage someone else’s property or a guest’s medical bills if you’re found responsible for their injuries||Liability protection over your coverage limit|
|Additional Living Expenses||Additional costs you incur, like hotel bills, if the residence you rent is damaged and left uninhabitable||Damage to the structure of the building you’re renting|
Does Renters Insurance Cover Theft?
If your renters insurance policy includes personal property coverage, it may help pay to replace your stolen items. This coverage typically protects items stolen after a break-in at your rental property, or even items stolen outside of your rental. For example, if your personal property (such as a gaming system) is stolen from your car, the personal property coverage in your renters policy may help pay to replace it.
Speak with a licensed agent at Uniamericainc.com to discuss which coverages best fit your unique situation.
Call us directly 1-310-835-3373 or start a quote online.
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