Renters insurance is a smart choice whether your landlord requires it as a part of your lease agreement or not. Bruce Richardson, the trusted State Farm® Agent of Mooresville, IN, recommends it to all renters in the area. A simple cost-benefit analysis and an understanding of what the coverage includes may help you understand why it’s worth the small investment. Learn the basics of these policies below, courtesy of your insurance agent.

Why It’s Worthwhile

Many inexperienced renters make the incorrect assumption that their landlords’ insurance will cover any issues that occur on the property. However, your landlord’s policy will not cover any of your personal property loss, and it won’t cover your liability if you cause any damage to the property.

For example, if you start a fire because you didn’t clean out your dryer’s lint catcher, you will be responsible for the property damage from the fire in addition to all your personal losses. The typical policy only costs $15 a month for full coverage, which is a very small investment for the protection you’ll receive.

What It Covers

The typical policy covers damage from a wide range of natural problems, including fires, windstorms, hail, lightning, and snow. It also covers damage caused by riots, vandalism, explosions, and vehicle accidents.

Damage from the plumbing, HVAC system, and fire sprinklers is all covered under renters insurance as well.  Keep in mind that flooding is not included in this list, and your own intentional destruction or neglect of the property will not be covered either.

The peace of mind you’ll enjoy from a renters insurance policy is well worth the small cost. Be prepared for the unexpected by getting covered as soon as possible. Contact your State Farm® Agent, Bruce Richardson, at (317) 831-3500 to request a personalized insurance quote today. His insurance agency has served the community since 1992, and you can trust they will provide the same great customer service to you as they have for your neighbors.