Renters Insurance is intended to provide protection for Personal Property (Contents) and personal liability protection to those that reside in but do not own the home.
The liability section of this policy form carries perhaps 15% of the overall cost but in our opinion, it carries 85% of the necessary protection. Especially for those renting in a multi unit building, it is common for negligence claims to arise due to water damage, smoke damage or fire damage to adjacent units or to the building itself. The liability section generally does not have a deductible and gives you first dollar defense up to the policy limits. A tenant could be sued for negligently over filling a bathtub thereby flooding the unit below causing building and contents damage; there have been cases of tenants falling asleep while smoking thereby causing a fire.
The personal property section will cover the tenant's personal contents against Fire, Smoke Damage, Theft, Water Damage and some other covered perils. It is important to note that there are limitations on the value of Jewelry, Furs, Silverware and other valuables; for those that have high valued items, a Personal Article Floater would be needed to provide protection. Also, it is important to understand that the peril of Earthquake is not included on a standard policy but may or may not be available by endorsement depending on the insurance company and State.
For a free quote in California, Arizona or Nevada, please click the following link: http://bit.ly/1jOrK4G
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The liability section of this policy form carries perhaps 15% of the overall cost but in our opinion, it carries 85% of the necessary protection. Especially for those renting in a multi unit building, it is common for negligence claims to arise due to water damage, smoke damage or fire damage to adjacent units or to the building itself. The liability section generally does not have a deductible and gives you first dollar defense up to the policy limits. A tenant could be sued for negligently over filling a bathtub thereby flooding the unit below causing building and contents damage; there have been cases of tenants falling asleep while smoking thereby causing a fire.
The personal property section will cover the tenant's personal contents against Fire, Smoke Damage, Theft, Water Damage and some other covered perils. It is important to note that there are limitations on the value of Jewelry, Furs, Silverware and other valuables; for those that have high valued items, a Personal Article Floater would be needed to provide protection. Also, it is important to understand that the peril of Earthquake is not included on a standard policy but may or may not be available by endorsement depending on the insurance company and State.
For a free quote in California, Arizona or Nevada, please click the following link: http://bit.ly/1jOrK4G