If you rent a home or apartment, you may believe that your landlord's homeowners insurance policy covers your belongings. Unfortunately, this is not true in most cases. To protect yourself and your possessions, you need renters insurance. If you're not familiar with this coverage, Robert Taylor Insurance in Lorain, OH, explains what renters insurance is and what it covers. This information should help you decide if this coverage is right for you.

What Does Renters Insurance Cover?

Your Possessions

If your house or apartment building should be damaged or destroyed by fire, flood, or another covered disaster, a renters insurance policy pays for the loss of your furniture, clothing, electronics, appliances, and other belongings. It also covers you in the event of theft, wherever it occurs. For instance, if your laptop is stolen from your hotel room while you are on vacation, your renters policy will cover it, just as if it was stolen during a break-in at your apartment.

Liability

If you or a household member—including pets—should accidentally injure somebody or damage their property, your renters insurance policy pays for medical treatments or repairs. So, if your dog bites a passerby or your son hits a baseball through a neighbor's window, you're covered. It also pays for any legal fees that arise out of the incident.

Additional Living Expenses

If a fire, flood or other disaster render your home uninhabitable, your renters insurance pays for any additional living expenses you encounter because of it. Hotel fees, restaurant tabs, laundry expenses, and other costs of living beyond what you normally pay are all covered by your policy.

Medical Payments

If a third party should suffer an injury while on your premises, medical payments coverage takes care of the medical bills. This differs from liability coverage because it pays regardless of fault or negligence on your part.

Clearly, renters insurance protects you against more than just the loss of your possessions. It also protects your future and makes life easier if you should find your home uninhabitable. To discuss coverage options, contact Robert Taylor Insurance. They've been providing high-quality home, life, and auto insurance to customers throughout Northern Ohio for nearly 30 years. Visit their website to learn more about the company or call (440) 277-5191 to speak with an experienced insurance agent.