Can A Homeowner Buy Renters Insurance?

  1. 1615 POINTS
    Ryan Andrew
    President, The Andrew Agency, Richmond, VA
    If you own your house you need a homeowners policy because Renters insurance does not cover the dwelling. Part of your homeowners policy is personal property coverage which covers your personal belongings any where in the world. Coverage is limited to 10% of your personal property limit if a claim occurs away from your home. For example, you are traveling on vacation and your luggage is stolen. Your house is insured for $500,000 and you have $350,000 personal property coverage. You will have coverage up to $35,000 for your stolen luggage.
    Answered on July 27, 2013
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