An overview of Renters’ Insurance

Home is your safe space and it has to be protected from various unavoidable damages like fire hazard, vandalism, theft, damage by a third party or more. Even if you don’t own the property it is very important to keep it insured so that you are protected financially during tough times. A reliable Renters’ Insurance policy takes care of you and your belongings inside the house.

What is Renters’ Insurance

Renter’s insurance is a type of home insurance that covers damages to personal property and those occurring from third-party liability claims. A reliable Renter’s Insurance policy protects all kinds of homes ranging from a studio apartment to an entire house and even a mobile home.

What does it cover?

Renters’ Insurance is quite similar to Home Insurance. However, it is good to know what it covers in detail. Here’s a list of a few accidents that are covered. It takes care of losses occurring from the following unexpected events:

  • Fire and Lightning
  • Theft
  • Vandalism
  • Riots
  • Damage by vehicle (not your own)
  • Smoke damage
  • Damage from water-heating appliances
  • Leakage or overflow of water or steam
  • Freezing of plumbing, heating, air conditioning
  • Short-circuit damage caused by electrical appliances

What it doesn’t cover?
Renters’ Insurance mostly covers all losses to property and from liability claims which may be exempted from Home Insurance. However, below are some damages that may not be covered in the Renters’ Insurance policy.

  • Flooding
  • Hurricanes
  • Earthquakes
  • Tornadoes
  • Sinkholes
  • Pests and vermin (including bed bugs)
  • Terrorism and acts of war, including nuclear war

Benefits of Renters’ Insurance

  • Renters insurance provides financial peace of mind
  • It protects you from common liability claims
  • It helps pay the cost for damages done to your belongings like furniture, electronic appliances, clothing, jewelry, etc.

So, make sure your rented home is protected from all kinds of property damages or liability claims with a good Renters’ Insurance Policy. If you are looking for a Renters’ Insurance Policy, get in touch with our insurance agents, and get the best policy today: https://www.exceedinsurance.com/home-insurance/

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