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Renter's Insurance

Renter's Insurance

compareaquote renters insurance

When disaster strikes, renters and homeowners suffer the same fate. If you are a renter, you definitely need to seriously consider taking renters insurance. Even though the condo association or your landlord might have insurance that protects their property, you need to be aware that such insurance only covers the building structure and not the property within it.

Imagine losing everything you own in a hurricane storm or flooding; all your furniture, clothes etc. Just like homeowners insurance, renters insurance is meant to protect the tenant from events that might lead to loss or damage of their personal belongings.

What Does Renters Insurance Cover?

Now that you’ve gained a clear understanding of the extent to which your Landlord’s insurance policy covers you let’s answer the one most common frequently asked question_ what does renters insurance policy cover?. 

A renters insurance policy comes in when you and your belongings suffer from the unexpected. Imagine the amount of money you would spend to replace your personal belongings if damaged by a fire, lightning, windstorm, or smoke. Having a renter’s insurance policy can cover the expenses of replacing your personal property that was destroyed, as well as provide for your temporary living expenses when you lose your home.

You might not see how valuable your belongings are to you until they’re no more. Some tend not to acquire a renters insurance policy because they think their valuables do not add to a property to be insured. Apart from your personal properties, renters insurance also protects you against claims made by others. Before you give up on the whole renters’ insurance idea, take a look at some of your valuables and equate it to how much money is lost when they’re destroyed;

  • Jewelryhomeowner's renters insurance
  • Television or entertainment system
  • Clothing
  • Computer
  • iPhone
  • Musical or sporting equipment
  • Furniture

Types Of Renters Insurance Coverage

We mostly have no control over the strange situations we find ourselves in. It’s for this reason that renters insurance policy steps in to provide financial support for you, your belongings, and your living expenses after a covered loss. A renters insurance policy has three main types of coverage categories;

  • Personal Property Coverage

The personal property coverage policy is set to help you recover the cost of your damaged or stolen valuables. Some named perils the policy covers you from include;

  • Fire or lightning
  • Bad weather
  • Theft
  • Vandalism
  • Smoke etc.

It should be noted that a condor or apartment with the furnishing or certain appliances before your moving in falls under your Landlord’s insurance policy. When you accidentally break your possessions or lose them, renters insurance steps in to repair or replace them after submitting proof of purchase.

There is also a term in renters insurance known as Scheduled Personal Property Coverage, simply put as ‘Extra Coverage,’ which allows you to add additional coverage to certain items that are more valuable to you. Certain benefits include adding extra premiums to possessions like sculpture, paintings, watches, musical instruments, and other precious valuables.

  • Temporary Living Expenses

Suppose you’ve gotten this far in this article. In that case, it shows you’re rethinking your decision about getting you and your personal property insured (which is good news). Most renters’ insurance policies cover perils that force you out of your place of residence. This is done by providing money to protect your new home and money for food and laundry.

  • Personal Liability Coverage

Renters Insurance policies have been written to cover you when a person gets hurt at your apartment or when you cause damage in someone else’s home. In a situation where a lawsuit is filed against you or someone is injured on your account, your renters’ Insurance takes care of the legal fees and medical bills. Whenever you decide to have renters insurance, the company discusses the kind of perils its policies cover, how much premiums to pay, and the extent of damage it takes on.

What Isn’t Covered By Renters Insurance?

renters insurance quoteThere’re lots of benefits that you enjoy when you purchase renters insurance. But just like everything else, there is a limitation. It is good to know all these to be prepared to take the necessary steps when the need arises.

Renters Insurance policies like homeowner’s Insurance exclude numerous home disasters from its policies. Therefore, you must be thorough in agreeing to terms with little understanding about what it covers to avoid any form of surprises. In simple terms, damages caused by floods or earthquakes are not primarily covered under this policy; bed bug infestations are also excluded. However, more information has been provided to help you thrive when these unlisted perils arise.

It has been noted that many renters’ insurance policies do not cover expensive items like jewelry, designer clothing, or certain kinds of technology.

You must be asking yourself why I’m still reading this? Not to worry, as this chapter proceeds, you’ll come to know how you can ensure the coverage of your fine jewelry or modern technology under a renters insurance policy.

 A term known as a rider in renters insurance allows you to cover your precious valuables against calamities. You must be sure to review your policy document to understand your coverage limitations while selecting enough coverage for your valuables.

Do I need a Renters Insurance Policy?

geico renters insuranceIf you own something you cherish, which may cost you a significant loss when stolen or destroyed, then yes! You need renters insurance.

Without renters insurance, you’ve got no coverage for the loss or damage of your personal property. Luckily, you can get yourself affordable renters insurance (also called apartment insurance) to help protect you in situations like these; 

  • Your apartment building burned to the ground
  • A burst pipeline damaged the home you’re renting.
  • A thief broke into your apartment.
  • A guest slipped and injured himself in your kitchen.
  • Fire
  • Smoke damage
  • Vandalism
  • Theft
  • Windstorm
  • Water damage
  • Visitor’s injuries

What Personal Items are Covered Under Renters Insurance?

Valuables and conditions commonly known to be covered under renters insurance include:

  • Electronics and appliances (television, computer, etc.)
  • Furniture and clothing
  • Extra expenses if the property is uninhabitable due to a covered loss
  • Accidental damage to someone else’s property
  • Medical expenses and legal fees if someone is injured on your property.
  • Suppose you have a jewelry collection of engagement rings, wedding bands, diamond bracelets, etc. In that case, you may also need special coverage for these along with your renters’ insurance policy. We can help you with a jewelry insurance policy for those valuables if that’s you.

Irrespective of whether you own a house or rent an apartment, a landlord’s insurance policy covers only the building structure but not the possessions or items in it. It is, therefore, necessary that you insure your belongings before a calamity befalls you. The best way to ensure the protection of your stuff is with a renters insurance policy.

How renters insurance can help:

  • Theft: Rental units are prime targets for theft, and burglars are getting smarter about how to break into apartments. With renters insurance, you can smile and sip a cup of coffee when you find out your house has been broken into. Secure you and your belongings from professional burglars with renters insurance.
  • Fire and smoke damage: Although your Landlord’s Insurance might replace your apartment after it burns down, it won’t replace your furniture or other personal belongings. Renters insurance can cover items damaged by fire, smoke, and different situations.
  •  
  • Water damage: Similar to fire and smoke, your renters’ Insurance can cover damage to items caused by water overflow. Your renters’ Insurance covers accidental discharge or overflow of water in your apartment. 
  • Suppose you cannot use your apartment due to covered losses like fire or water overflow. In that case, your renters’ insurance policy will be able to relocate you until the damage is resolved. It may also take up the expenses of a hotel until you’re able to use your apartment.
  • Liability protection: Renters insurance can cover the medical bills of an injury suffered by a person in your home. The policy does not only protect you alone but people who accidentally injure themselves in your home.
Do I Need Renters Insurance If I Don’t Own Much?
progressive renters insurance

progressive renters insurance

No matter the number of valuables you own, renters insurance’s policy has premiums set in a way that it fits the price range of your belongings. Note that there is no fixed price when it comes to renters insurance. The policy is set based on the number of valuables you have.

Even if you don’t own much, renters insurance may be a good idea. Take into account the value of everything you own, such as furniture, clothing, appliances, kitchen tools, and bedding. Could you afford to replace these items if they were stolen or damaged by a fire or windstorm? The personal property coverage in a renters insurance policy may help with those costs.

Creating an inventory of your possessions is an excellent way to help document what you own and how much it’s worth; the Insurance Information Institute (III) says,’ You may find that the value of all your shoes, books, electronics, and other belongings add up. Once you’ve realized what is at stake when your little possessions are lost, you might not doubt the whole renters’ insurance idea.

When you have a clear understanding of how much your belongings are worth, you may be able to determine how much personal property coverage you may need to purchase. The maximum amount your policy will reimburse you after a covered claim is determined by the coverage limit you choose for your property coverage.

What Is Deductible?

This is the amount you agree to pay before your coverage kicks in to pay for a claim.

What are perils and hazards?

In the insurance world, a “peril” is known to be an event or circumstance that results in property damage. Your homeowners, condo, or renters policy contains a list of covered perils, such as fire, lightning, and vandalism. That means your insurance policy will cover the repair, replacement, or rebuilding of your home or property if a covered peril causes damage. A “hazard,” on the other hand, increases the chances of a peril occurring.

Difference between perils and hazards on a renters policy
renters insurance cost

renters insurance cost

In simple terms, a peril causes the loss of your personal property. At the same time, a hazard increases the likelihood of a peril happening. Perils and hazards are not synonymous. They are mistakenly interchanged when discussing home insurance. Lenders have popularized the term “hazard insurance,” which creates confusion when trying to understand the concept of a hazard. let’s clarify with this example;

 a fire begins in a chimney and destroys a home: the peril is the fire, and the hazard is the dirty chimney.

What is hazard insurance?

Hazard insurance, also known as dwelling coverage, describes the part of your homeowners’ insurance policy that protects your home or apartment from various perils. Lenders mainly use the term to underscore the minimum home insurance requirements before your mortgage loan will be approved due to their interest in protecting your home’s foundation and structure.

What does hazard insurance cover?

Hazard insurance protects you and your home against damage caused by covered perils and covers explicitly your home’s structure, including:

  • Roof
  • Walls and flooring
  • Built-in appliances, including water heaters
  • Attached garage

Hazard insurance vs. homeowners insurance

Hazard insurance, or dwelling coverage, is only one part of your overall home insurance policy. Keep in mind that hazard insurance only covers your home’s structure and nothing more. It does not serve as a substitute for homeowners insurance_ which also provides coverage for liability, personal property, and additional living expenses.

What are examples of perils?

Perils comprise events that can cause damage to your home and belongings. Here are the16 types of covered perils (commonly referred to as “named perils”) listed on basic homeowners insurance policies:

  • Fire or lightning
  • Windstorms and hail
  • Theft
  • Vandalism or malicious mischief
  • Explosions
  • Weight of ice, snow, and sleet
  • Falling objects
  • Riots or civil commotion
  • Smoke
  • Damage from aircraft
  • Damage from vehicles
  • Volcanic eruption
  • Accidental water/steam overflow discharge
  • Sudden and accidental tearing apart, cracking, burning, or bulging of an appliance*
  • Sudden and accidental damage from artificially generated electrical current
  • Freezing

Please note that other perils will generally NOT be covered by a home insurance policy. Such perils include earthquakes, landslides and mudflows, floods, termites, mold, and acts of war.

To protect yourself and your belongings against perils like flooding and earthquakes, you may like to consider purchasing additional coverage from your policy or a specialized policy from the government or a private insurance agent.

Named perils vs. open perils

Named perils and open perils refer to the different types of coverage provided in your home insurance policy. When we mention Named perils coverage,” we mean to talk about the specific perils covered on your insurance policy. “Open perils coverage,” on the other hand, refers to all covered perils listed in most insurance policies. Examples of commonly excluded perils are flooding and earthquakes. 

 Remember that you usually won’t purchase an open peril policy under renters insurance. This is because you’ll usually pay more for a home insurance policy with open perils coverage since your home insurance company will be assuming more risk.

Does Renters Insurance Cover Natural Disasters?

Renters Insurance policies do not protect you from damages caused by natural disasters like floods or earthquakes. But there are cases where your renters’ insurance policy may cover certain natural occurrences like volcanoes, hurricanes, or wildfires. As a result, there is no need to relocate from your flood-prone residence. You can acquire an additional flood insurance policy to safeguard your belongings when flooding occurs.

Can Renters Buy Flood Insurance?

According to a statement by the Federal Emergency Management Agency (FEMA), renters may be able to purchase a flood insurance policy to safeguard their belongings from damages caused by flooding. A renter’s flood insurance policy may provide up to $100,000 coverage for belongings damaged by flood, thus, helping pay for the replacement of items like furniture, electronics, and clothing owned by the renter.

 For instance, If you decide to purchase a flood insurance policy, FEMA looks at your community’s participation in the National Flood Insurance Program (NFIP) before said Insurance might be granted. Communities under the NFIP are more likely to gain flood insurance than those from fewer areas prone to flood.  

Factors That Determines The Cost Of A Flood Insurance Policy

The following factors may determine the cost of a renter’s flood insurance policy;

  •  Age of the building
  • Number of stories in that building
  • The property’s flood zone
  • The deductible chosen

 You are likely to find out that flood insurance is less expensive if your rented home is considered at a low to moderate risk of flooding, says Floodsmart.gov. Just as mentioned earlier about renters insurance, your flood insurance policy also excludes the protection of the rented home or apartment. The Landlord’s flood insurance policy covers the expenses needed to replace the building’s physical structure.

Doesn’t Renters Insurance Cover Flood Damages? 

A standard renters insurance policy does not cover flood damages. Your renters’ insurance policy helps protect your belongings from specifically named perils _ namely, a leak in your air conditioner or plumbing of some sort; your renters’ insurance steps in to aid in the repairing of sudden and accidental water damages to your furniture and other covered valuables.

In a situation where you don’t have a flood insurance policy to cover the harm caused by flooding, you’d be forced to replace your damaged belongings directly from your pocket. Suppose it’s not too much to ask. In that case, you can consult an insurance agent near you for some assistance with flood insurance or purchasing from FEMA.

Does Renters Insurance Cover Theft?

The personal property coverage in your renters’ insurance policy helps cover the expenses of replacing your stolen valuables. This coverage typically protects stolen items after a break-in or even items stolen outside your home. For example, suppose your personal property (such as a gaming system) is stolen from your car. In that case, the personal property coverage in your renters’ policy may help take up the cost of a new gaming system.

Personal property coverage is usually subjected to a deductible. This means you’ll have to pay a certain amount of money known as premiums toward the coverage of your items before your policy will be able to cater for the loss. 

Be sure to read your insurance policy thoroughly to understand what may or may not be covered.

Does Renters Insurance Cover Damages By Pests?

When you request renters insurance, the policy does not cover damages by mice, rodents, termites, insects, or bedbugs. Also, extermination costs are not covered under the policy. When pests damage your valuables, it is the responsibility of your Landlord to see through the extermination of said pests. Getting rid of pest infestations like bed bugs is quite expensive and time-consuming hence the reason it’s not under a renters insurance policy. If you’re still persistent, then it can be arranged in the form of additional coverage known as a rider to see through the pest infections.

 Does Renters Insurance Cover Medical Bills?

You’ve probably heard (as mentioned earlier) that renters insurance may help protect your belongings if you rent a house or apartment. You may also be aware that property insurance doesn’t cover your doctor’s visits and prescriptions; you’ll need health insurance for that. But one sure thing about renters insurance is that the policy may be able to provide coverage for other people’s medical-related expenses in certain situations, like when a visitor injures himself in your kitchen.

According to the Insurance Information Institute (III), Renters insurance also includes liability protection coverage, which has two different types of protection. Those coverages are meant for family and guest liability protection.

What Kind Of Coverage Do I Have With Renters Insurance?

When you purchase a renters insurance policy, you are usually given a chance to choose between two types of personal property coverage: actual cash value coverage and replacement cost coverage, which may help protect your belongings in different ways.

Replacement cost coverage mainly helps protect your belongings from the amount it would cost to buy a new one. If you paid $500 for your camera and it’s stolen, a policy with replacement cost coverage would likely provide enough protection for you to buy another camera of similar type and quality in today’s dollars, even if your stolen camera is a few years old.

Actual cash value coverage takes into account depreciation. For instance, suppose you paid $500 for your camera when you purchased it a few years ago. A policy with actual cash value coverage will likely factor in depreciation if it’s stolen. It could provide a lower price than the actual price your item will cost on today’s market. 

Regardless of what type of coverage you have, keep in mind that coverage limits the maximum your policy will pay out after a covered loss will apply. You’ll probably also have to pay your deductible before your insurance policy helps with the rest.

When Do I Need Additional Coverage?

Should I get additional insurance coverage for my high-priced valuables? It depends; some renters’ insurance policies may limit the amount of personal property you can add to be insured. In such cases, you can purchase additional coverage for your expensive belongings like piano, paintings, jewelry, or even a camera that may be exempted. Other policies may not offer a personal property limit high enough to cover your expensive camera along with all your other belongings.

If your valuables are worth more than the maximum coverage your renters’ insurance policy provides, ask your agent if you can raise the limit by purchasing additional coverage. This is known as scheduled personal property coverage. It can be assigned to individual items and groups, like your camera and other critical personal properties.

In addition to providing more extensive coverage for your expensive valuables, scheduled personal property also protects against additional risks, such as accidental loss, according to the Insurance Information Institute (III). You’ll also find that you won’t have to pay a deductible if you need to file an insurance claim for an item you’ve scheduled. All that is required of you is to provide a recent receipt or a professional appraisal to your insurance company for scheduled personal property coverage, says III.

What Is Additional Living Expense Coverage?

Additional living expense coverage is a standard part of most homeowners, condo, and renters insurance policies. It helps pay for the increased costs incurred if you cannot live in your home due to a covered loss like a burst pipe in your apartment or fire caused by faulty appliances.

Suppose a fire or windstorm leaves your home uninhabitable; you would be forced to relocate for a few months while it is being repaired. According to the Insurance Information Institute (III), additional living expense coverage may help pay for costs that exceed your typical expenses, such as hotel bills or restaurant meals. At the same time, you’re unable to live in your damaged apartment.

What do additional living expenses cover?

Additional living expense coverage may kick in if your home is damaged by any of the perils listed in your renters’ insurance policy.

 Some covered perils your additional living expense coverage handles include:

  • Fire and smoke
  • Windstorms
  • Explosions
  • Falling Objects
  • Vandalism
  • Water damage from a burst pipe
  • Weight of snow, ice, or sleet

The coverage may help reimburse you for increased living expenses such as:

  • Hotel or temporary rental fees
  • Restaurant bills
  • Boarding costs for a pet 

How Much Additional Living Coverage May Be Provided?

The coverage comes with a limit, the maximum dollar amount your policy will pay for increased living expenses after a covered loss. You’ll likely find that your policy comes with a certain amount of additional living expense coverage. The amount is typically based on a percentage of another coverage limit on your policy. For instance, if you have a homeowners insurance policy, your additional living expense limit may be a percentage of your dwelling coverage limit, the International Risk Management Institute explains.

You’ll probably also find that additional living expense coverage protects for a limited period, the III says.

Read your policy to learn what types of situations may be covered and how much coverage your policy provides for additional living expenses. Your agent can inform you of any options for increasing your range.

What’s Not Covered?

Additional living expense coverage as an aspect of renters insurance does not pay for damages to your home or belongings. Other coverages like Personal Property and Extra Coverage have been designed to help protect against those types of losses instead.

The dwelling coverage, for instance, helps repair and replace physical damages to your home with a covered peril like a fire or windstorm under a homeowner’s insurance policy.  

We don’t wish for your place of comfort to be destroyed. Still, it is better to be prepared for the unexpected than sitting with your arms crossed, thinking nothing bad will happen. Understanding additional living expense coverage is a step in the right direction.

Does Renters Insurance Cover Your Laptop Or Mobile Device?

Your renters’ insurance policy may help pay for the repairs or replacement of your personal belongings like handheld electronics, including laptops, smartphones, tablets, or personal computers, if they are stolen or damaged by specific causes. So yes, you can put your mind at ease now because renters insurance got your laptops and mobile devices covered.

The personal property coverage in a renters insurance policy mainly helps cover personal belongings damaged or destroyed by covered perils. Perils covered by renters insurance may vary, but they typically include fire, windstorms, lightning, and certain types of water damage. Renters insurance may also help protect against the theft of your belongings.

How Much Coverage Do I Have For My Laptop?

With renters insurance, the amount of coverage you’ll get for your laptop is determined by the personal property coverage limits stated in your policy.

 A limit is a term used to describe a policy’s maximum amount toward a covered claim.

 Knowing your policy limits and how much coverage they provide for your electronic devices and personal belongings is good. Note that you’re required to pay your deductible before your insurance policy reimburses you for a covered loss.

When you purchase a renters insurance policy, you’ll likely have to choose between “actual cash value” and “replacement cost” coverage. The type of protection you choose helps determine how much coverage you’ll be able to purchase.

For instance:

Actual cash value coverage: Takes depreciation into account when determining how much your policy will pay out after a covered loss, such as laptop theft or damage caused by a lightning strike or power surge. Let’s say you spent $800 to buy your laptop or tablet several years ago. Still, as a result of depreciation, your insurance policy won’t be able to cover the whole amount when you file an insurance claim today.

Replacement cost coverage: Cater for the cost of replacing your laptop or tablet of similar make and model in today’s dollars. Premium prices for this coverage may be higher than the cost of actual cash value coverage. Still, you’re likely to have greater protection from the covered perils listed.

In some insurance companies, you may be able to purchase additional protection for a laptop or computer. A local agent can explain what coverage options are to you.

Particular Renters Insurance Terms To Be Familiarized With

What is actual cash value coverage?

This coverage typically covers only the cost to replace items minus depreciation. That means replacing an item may not take up the total cost.

Speak to your representative at Compareaquote.com Insurance Agency to help you understand the concept of actual cash value coverage versus replacement cost coverage to pick what’s right for you.

What’s a policy period for renters insurance?

A policy period in renters insurance is the amount of time the insurance policy is in effect. It makes you aware of your policy_ when it begins and ends. Generally, your policy period has a longevity of 1 year.

What’s personal liability coverage?

This insurance coverage is meant to protect you against claims that others make against you. Depending on your personal assets and individual circumstances, you might benefit from additional liability coverage.

What’s covered by living expenses?

Suppose a covered peril destroys the home, apartment, or condo you rent. In that case, this Insurance helps cover additional living expenses that come with a new home.

What’s covered by personal property coverage on a renters policy?

Personal property coverage helps protect your personal belongings like furniture, clothing, electronics, and other items based on the collectible selected. Additional coverage is required when you own valuable collectibles, specialized equipment, or other unusual items like pianos, paintings, etc.

What is a rider or endorsement on renters insurance?

Riders and endorsements include all the add-ons in an insurance policy.

What is replacement cost coverage?

Replacement cost coverage is there as a supplement to the actual cash value. Most renters’ insurance quotes include actual cash value_ which takes into consideration depreciation when calculating a post-claim payout, not replacement value for your belongings. This could mean you may not get enough to buy a new version of the lost item. This is where replacement cost coverage can help.

What is scheduled personal property?

This is additional coverage for high-value items or special collections. Examples include jewelry, coin collections, sporting goods, specialized electronics, and other valuables.

What is business merchandise coverage?

This additional Insurance applies to people who deal in e-commerce businesses (sell products online.)

What is incidental business liability?

Suppose you have a home business as a small babysitting business. In that case, this Insurance helps protect you against liability claims related to your business.

What is additional coverage for disasters?

Depending on your residence, you may want to look up extra coverage for natural disasters such as floods, earthquakes, or wind and hail. Additional coverage for natural disasters ensures the protection of you and your belongings from unexpected flooding or hurricanes. Not all renters’ policies include coverage for these perils; contact our Insurance Agency agent at compareaquote.com for more information.

Who needs renters insurance?

Suppose you rent an apartment, house, condo, or other living space. In that case, you’re qualified to have a renters insurance policy.

If your Landlord requests Insurance, you can contact us online for an affordable quotation. We’ll send proof of Insurance according to your Landlord’s requirements. Progressive rental policyholders have an average of $24,165 worth of personal property coverage. Your Landlord’s insurance policy does not cover you when you encounter perils like fire or when your valuables get stolen. It, therefore, becomes a necessity that you get you and your belongings protected by having rented insurance coverage. 

Answers to Frequently Asked Renters Insurance Question

Do I Need Renters Insurance If I Live In a College Dorm?

 ‘Some policies limit coverage for belongings while they are away from the policyholder’s home,’ says the Insurance Information Institute. This limitation is known as ‘off-premises coverage.’ In situations where you or your parents’ insurance policy does not include ‘off-premises coverage,’ you’ll need to acquire additional renters insurance policy to ensure your belongings in the dormitory. You can check with your insurance agent to know which of your belongings has off-premises coverage.

Let’s look at this example of limit coverage: if your parents’ policy provides $100,000 worth of coverage for belongings but limits that coverage to 10 percent for items that are off-premises, it may provide up to $10,000 for items away from their home, including belongings you bring to school.

Also, certain items, such as a musical instrument or expensive jewelry, may have coverage limits. Suppose the policy’s limits cannot cover all the valuable things you’ll be bringing to school. In that case, your parents may be able to add scheduled personal property coverage to their homeowners’ or renters’ insurance policy to help cover your valuable possessions.

Do I Need Renters Insurance If I Live Off-Campus?

The answer to the question is yes; the III states that your parents’ insurance policy may not extend to the belongings you may bring with you to your hostel or apartment. It is safe that you buy your insurance policy_ to help replace or repair your belongings if they are stolen or damaged by a covered risk.

 A covered risk, often described as a “peril” in insurance terms, is a cause of damage that is covered by your insurance policy. Carefully read your insurance policy to learn what risks it may be substituted or what may not, like theft or flooding.

A renters insurance policy also includes liability coverage, which may help prevent you from paying out of your pockets to cover someone’s injuries on your property (including your Landlord’s).

The III recommends asking your agent about coverage limits and whether you may benefit from additional coverage for certain valuables.

Hopefully, you and your stuff will be safe and intact while going about your business on and off-campus. Remember to keep a home inventory of your staff to help assist you whenever you wish to file an insurance claim.

Whether you’re in the dorms or sharing an apartment with friends, your local agent can help you choose the coverages you need as a college student.

renters insurance in Georgia

Conclusion

When someone moves to a new renter property (house or apartment), the last thing on their mind is renters insurance. With homes now equipped with so many gadgets, the value of things in your house is high and in case of theft, vandalism etc., You will suffer huge losses and might not be able to replace and it could affect your college or work. So take a minute to understand renters insurance and call us at CompareAquote.com and let us walk you through plan

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