Why having renters insurance benefits you.

While homeowners understand the importance of having the right homeowners insurance, renters don’t always feel the same.  This is because many assume that renters insurance only provides coverage for their personal belongings.  However, this simply isn’t the case.  Read on to learn about all the coverage included in a renters policy.

  • Personal Property Coverage

While your landlord is responsible for the damages that your rental home or apartment sustains, they will not compensate you if your personal belongings are damaged or lost.  Fortunately, the personal property coverage included in your renters insurance will cover the cost of repairing or replacing your damaged possessions.

  • Loss of Use Coverage

What would happen to you if your rental was temporarily uninhabitable due to damages caused by a fire or another major disaster?  Well, in most cases you would have to foot the bill for finding a temporary living situation.  However, if you have renters insurance, then your policy offers loss of use coverage.  This coverage takes care of the costs associated with living elsewhere while your rental is undergoing necessary repairs.

  • Personal Liability Coverage

Stop for a moment and imagine what would happen if someone injures themselves while inside your rental.  If someone slips and falls, gets bitten by your pet, or experiences some other accident, then you might find yourself on the receiving end of a personal liability lawsuit.  Luckily, if you have renters insurance, then the personal liability coverage included in your policy will help you take care of the expenses associated with a lawsuit.

This is why you can’t afford to skip out on the coverage offered by renters insurance.  Interested in learning more about this essential coverage?  If so, then contact the experts at the Scavone Insurance Center in White Plains, New York today.

Leave A Comment