Owner, Arianna George Farmers Insurance Agency, Broomfield, CO
Great question! Most folks know the importance of homeowners insurance, but few people realize all of the benefits and coverage available with a renter's insurance policy. Coverage options differ between insurance companies, but here is a quick list of items that are typically covered:
1. It covers replacing all of your belongings, including furniture, clothes, shoes, tools, laptops, and TVs after a covered loss. (Many people incorrectly assume that if they are renting, their personal belongings are covered under the property owner's insurance policy; in most cases the renter's belongings are not covered under the owner's policy.)
2. It covers medical costs for guests who may be injured in your home. (Perhaps the neighbor sprained their ankle falling off of your step? Wouldn’t it be nice to cover their medical expenses as a courtesy, and not have to pay out of your own pocket?)
3. It gives you liability protection for events you may be held liable for on or off the property. (Maybe the neighbor who sprained their ankle decides to sue you?)
4. It covers additional living expenses, such as a hotel room, and dining out in the event you are temporarily evacuated from your home. (Perhaps a pipe bursts, and the landlord says you have to stay somewhere else for 10 days while they conduct repairs?)
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1. It covers replacing all of your belongings, including furniture, clothes, shoes, tools, laptops, and TVs after a covered loss. (Many people incorrectly assume that if they are renting, their personal belongings are covered under the property owner's insurance policy; in most cases the renter's belongings are not covered under the owner's policy.)
2. It covers medical costs for guests who may be injured in your home. (Perhaps the neighbor sprained their ankle falling off of your step? Wouldn’t it be nice to cover their medical expenses as a courtesy, and not have to pay out of your own pocket?)
3. It gives you liability protection for events you may be held liable for on or off the property. (Maybe the neighbor who sprained their ankle decides to sue you?)
4. It covers additional living expenses, such as a hotel room, and dining out in the event you are temporarily evacuated from your home. (Perhaps a pipe bursts, and the landlord says you have to stay somewhere else for 10 days while they conduct repairs?)