The Benefits of Renter’s Insurance


If your personal property is damaged or stolen, the one that is often responsible is the renter. Here are four important benefits of Renter’s Insurance.If you are currently renting a home or apartment, one of the benefits you’ve probably noticed is having the peace of mind that if something breaks, it will be fixed by the landlord or property owner. It can definitely save you money if something expensive needs to be replaced like a dishwasher or air conditioner. But what would happen in the event of a fire or break-in? If your personal property is damaged or stolen, the one that is often responsible is the renter. Don’t be left holding the bag. Here are four important benefits of Renter’s Insurance.

Protect your Property

Obviously, the most apparent benefit of Renter’s Insurance is coverage for your property. Many people who rent assume that they are covered under their landlord or property management’s insurance. That is not the case. Their insurance covers their property, not yours. Renter’s Insurance was created to cover things like your clothes, collectables, furniture and electronics. So if these items are damaged in a fire, tornado, etc., you are protected. You are also protected in the unfortunate event that your property is stolen, and we all know how quickly items like computers, televisions and other expensive electronics can add up.

Stay Protected from Gaps in Coverage

Another benefit of Renter’s Insurance is protection from gaps in coverage that other insurance policies don’t cover. If you leave valuables in your car and they are stolen, many people might assume that the items would be covered under their current auto insurance policy. That’s usually not the case. Your Auto Insurance should cover any damage to your vehicle, but you are responsible for the contents within. If you have Renter’s Insurance, your possessions should now be protected. Your possessions can also be covered when you travel, so it could be even more beneficial if your luggage is lost or stolen.

Liability Coverage

Something that people rarely think about is what happens if someone is injured in your rental home or apartment. If you are legally responsible for the injury of one of your guests, you could then be responsible for paying medical costs or other damages. Renter’s Insurance makes sure you are protected in case someone is injured while at your property. Renter’s Insurance can also pay for legal expenses and court costs up to your policy limit.

Coverage for Temporary Living Expenses

What would you do if your rental home or apartment was left uninhabitable due to a fire or weather event? Would you be able to pay for additional living expenses? In the event that your home or apartment is damaged and deemed not livable, your Renter’s Insurance policy may cover temporary living expenses, food and more. It can be a huge perk to have those temporary living expenses covered while you are trying to get all your ducks-in-a-row.

Colonial Keeps you Covered

If you are currently renting and do not have Renter’s Insurance, what are you waiting for? Colonial’s affiliate DuBose & Associates offers Texas homeowners the best coverage possible at the rates they can afford. To learn more about personal insurance coverage, click here, or get started on a quote today. If you would like to talk to one of our talented professionals, give us a call today at 817.390.2300.

 

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