If you rent a home or apartment, renters insurance is crucial to protect your financial health if your personal belongings get damaged or stolen. Paying for a new bed or TV can be costly, so you want to make sure you’re covered. While some landlords require you to have it, even if they don’t, it’s a worthwhile investment. Here is a quick guide to this type of insurance.

What You Should Know About Renters Insurance 

What does renters insurance primarily cover?

All renters insurance policies offer coverage for your personal belongings. It can also include liability coverage if someone gets hurt in your home and files a lawsuit. Additionally, if you need temporary lodging after an accident involving water or fire and smoke, renters insurance will cover assorted living expenses like lodging and food. 

Will my landlord’s insurance protect me?

When it comes to renting, your landlord’s property coverage will only protect the actual apartment, including wall or counter damage.  However, any personal items within the property will not be covered. There may be exceptions if landlord negligence contributes to property damage, although these cases are often settled in civil court.

Is renters insurance mandatory?

While not required by law, many landlords insist renters have this insurance to reduce their liability. However, even if it’s not required, it’s still worth purchasing. For a relatively small monthly premium, you can be sure that your belongings will be covered if they get damaged.

What are other types of damages that are often covered?

In general, fire, theft, and vandalism are covered by most renters insurance policies. Water damage may be covered, provided that it wasn’t caused by flooding—which requires an additional policy. Damage caused by wear and tear, neglect, or intentional misuse will not be covered in most cases.  

If you’re a renter, Accredited Insurance Group, located in Douglas County, NE, can help you protect your most valuable belongings. They are an independent insurance agency and offer comprehensive renters insurance policies at affordable prices. They also provide a range of other insurance policies, including SR-22 insurance and general liability insurance. Call (402) 334-1780 to receive your personalized quote today. You can also visit their website for more information on their insurance policies.