Although renters insurance is usually not required, it is just as necessary to have. Not only will renter’s insurance protect your personal items, it will also give you help with temporary housing and liability protection such as medical expenses for people on your property or a lawyer if you are sued for unintentionally injuring someone.
Renters Insurance provides the necessary coverage that your landlord’s policy simply does not cover. Protect your interests and your financial future by investing in renters insurance; a little goes a long way! Call us at 800.277.0013 and let us help to make sure you’re properly covered.
Understanding Renters Insurance Policy
Renters insurance varies slightly from homeowners insurance because it only covers the insured contents of a home and the insured’s personal liability. As a renter, you do not insure the structure. Understanding your options will help you make smart insurance choices to protect you and your family.
The property insurance section of your renter’s insurance policy protects loss or damage to your personal property.
Take a look around at all of your possessions. How much would it cost you to replace your personal property in the event of fire, natural disaster, or robbery? Besides just your furniture and your clothing, at a minimum you’d have to also replace your dishes, silverware, television, tablets, computer, sporting equipment, and any musical instruments you own.
Liability insurance provides protection for claims arising from bodily injury or property damage that you & your family members may cause to other people. This also includes family pets.
What if someone slipped and fell on your freshly mopped kitchen floor? Or, what if your dog bites someone inside or outside your apartment; the liability portion of your renters insurance usually covers this. In 2012, dog bites accounted for one-third of all the money paid out for homeowners liability claims. Some aggressive dog breeds such as a pit bull, Rottweiler or wolf hybrid, may not be covered.
This provides coverage if someone suffers a minor injury on your property. If a friend or guest requires medical assistance as a result of a minor injury suffered on or near your premises, your insurance company can pay his or her medical expenses with the medical payment to others coverage.
Make sure you know what your landlord’s policy covers and what it doesn’t. Contact HomeServices Insurance Maryland at 800.277.0013 to learn more about renters insurance policies and coverage plans that meet your needs.