Renters Insurance
Property owners generally carry a standard fire and liability policy, and have additional coverage with “landlord/rental” insurance, but they normally cannot cover the contents or possessions of the resident. The reason that insurance companies do not provide this type of coverage to the owner is because they are “non-owner” occupied properties. Therefore, it is very important for you to have adequate insurance coverage for your contents.
If you think it is not important, sit down and write out a list of your possessions in one column. In a second column, list how much it would cost to “replace” them. You will be surprised how the list can really add up.
Contact an insurance agent if you do not have renters insurance. You can find them in the telephone directory, search the Internet, or ask a friend. The Internet can also provide both information and comparison-shopping. To avoid a loss, acquire renters insurance now.
- Standard Rental Insurance covers the following types of disasters:
- Fire or lightening
- Windstorm or hail
- Explosion
- Riot or civil commotion
- Damage caused by aircraft
- Damage caused by vehicles
- Smoke
- Vandalism or malicious mischief
- Theft
- Volcanic eruption
- Falling objects?
- Weight of ice, snow or sleet
- Accidental discharge or overflow of water or steam from within a plumbing, heating, air conditioning, or automatic fire-protection sprinkler system or from a household appliance
- Sudden and accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, an air conditioning or automatic fire protection system
- Freezing of a plumbing, heating, air conditioning or automatic, fire protective sprinkler system or of a housing hold appliance
- Sudden and accidental damage from artificially generated electrical current.
Depending on the insurance you purchase the coverage will not only pay you for the damage caused to your personal possession but will also cover the cost of housing if you are unable to stay in your regular house, apartment or condo. If your home becomes uninhabitable due to a fire, burst pipes or any other reason covered by your policy, your renters insurance will cover your “additional living expenses.” Generally m that means paying for you to live somewhere else.
Contact your insurance agent as soon as possible to get coverage and protect your personal property.
