If faced with a fire, theft, or any significant loss tomorrow, would you have the means to replace all your belongings? Discover in just a few minutes how surprisingly affordable renters coverage can be.
What is Renters’ Insurance?
Renters’ insurance is a comprehensive policy that offers most of the benefits found in homeowners’ insurance, including liability coverage. It protects the tenant’s personal property from named perils such as fire, theft, and vandalism. However, it does not extend coverage to the dwelling or structure, except for minor alterations made by the tenant. The responsibility for insuring the building rests with the owner, with no obligation to cover the tenant’s belongings.
How Much Renters’ Insurance Do I Need?
The cost of renters’ insurance and the required personal property coverage depend on the assessed value of your belongings.
To determine your coverage needs, consider the following questions:
- What is the value of my belongings?
- Could I financially recover if everything were lost in a fire or stolen?
- How would I handle a liability lawsuit against me?
And here’s an important note: If you’ve ever wondered, “Do I need renters insurance?” the answer is likely yes.
Contact us to discover more about the renters’ insurance policy that aligns with your needs.