What Is Renters Insurance And What Does It Cover?
1615 POINTSview profileRyan AndrewPresident, The Andrew Agency, Richmond, VARenters insurance is a must have for everyone who rents a home or apartment and it's very inexpensive. Renters insurance typically cost between $100 - $200 per year depending on how much personal property coverage you need. Renters insurance will cover your belongings and provide liability coverage. Renters insurance even covers personal property away from your home or apartment. For example, someone breaks into your car and steels your iPad. Most policies limit coverage away from your residence premise to 10% but the example would be a covered loss.Answered on May 13, 2013flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasGreat question! Renters insurance is like homeowners insurance , but for people who rent, and not own. It is designed to provide protection for the cost of replacing your belongings in the event that they were damaged or stolen. Your landlord will have insurance to cover their building, but it will not cover your things, so it is wise for you to do so. It can make a huge difference if something were to happen to your building, and is relatively inexpensive for the blessing that it can be. If you need more information, contact me, I'm happy to help. Thanks for asking!Answered on April 25, 2014flag this answer
14231 POINTSview profileTom SheehanAgency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482Renters Insurance is a type of property and casualty package policy that is available if you are renting the home in which you live. This can of course be anything including a rental apartment, rental condominium , loft or even a single family home. The policy is similar to a Homeowners policy in that it provides coverage for your personal belongings and also liability protection. Unlike a Homeowners policy it does not provide primary coverage for the dwelling in which you live. However, the liability portion would provide you with coverage in the event that you were responsible for damage done to that residence. This is why in many cases, you will be required to show that you have purchased Rental Insurance as a condition of your lease.Answered on April 25, 2014flag this answer
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