Are You A Renter? Are You Fully Covered?

Are You A Renter? Are You Fully Covered?
October 29, 2020 Shane Paskey

Did you know that when you rent an apartment or home, the landlord doesn’t hold coverage to replace your belongings? In fact, they aren’t even required to. This is on you as a renter to ensure you have adequate protection. So how do you know this? What are the options?

It’s surprisingly a common misperception and an alarming 60% of renters don’t have a renters insurance policy. That’s pretty scary considering that all your material possessions are likely contained within your rental unit. But renters insurance is surprisingly affordable and there are steps you can take to ensure you have coverage to replace furniture, clothing, computers, and other valuables.

But aside from your material possessions. What would happen if someone was visiting your home and hurt themselves? What if they sought damages? Would you be protected? With most renters insurance policies, you would be. Ensuring that your coverage includes liability protection is key to making sure you are protected when unfortunate accidents occur within your rental unit.

What type of damage does renters insurance cover?

A renters insurance policy often provides low-cost coverage for you and your belongings for things like:

  • Fire
  • Smoke damage
  • Vandalism
  • Theft
  • Windstorm
  • Water damage
  • Visitor injuries

What items are covered by renters insurance?

Commonly covered items include:

  • Electronics and appliances (television, computer, etc.)
  • Furniture and clothing
  • Extra expenses if your property is uninhabitable due to a covered loss
  • Accidental damage to someone else’s property
  • Medical expenses and/or legal fees if someone is injured on your property

If you have jewelry like engagement rings, wedding bands, diamond bracelets, etc., you may wish to also consider special coverage for these along with your renters insurance policy. If that’s you, we can help you with a jewelry insurance policy for those valuables.

The team at Lakes Central Insurance is well versed in the unique needs of renters and ready to work with you to ensure you have the right amount of protection at a competitive price.