Whether you own rental property or your own home, you’ll want to protect any assets with rental or home insurance.  It's essential to understand the crossover and distinct coverage areas of each. Here's a closer look at the differences and similarities between the two protection styles.

What's the Difference Between Rental & Home Insurance?

1. Dwelling Protection

In the insurance industry, the term "dwelling" refers to the structure in which you live. Since renters don't own their dwelling, they're not responsible for covering it. Dwelling owners need a policy that will cover the structure in the event of a disaster, like a tornado. With our policy home and rental coverage both cover fire, wind, lightning, hail, and explosion.  The home policy also covers vandalism and offers theft coverage. Our Company also offers protection for detached structures, like sheds.

2. Content Coverage

Protection for contents is a major component of home insurance. In contrast to dwelling protection, content coverage centers on the belongings within the home. If there's a fire, the policy offers assistance to help replace destroyed goods. Our Company does not offer content coverage on rental dwellings.

3. Liability Coverage

Liability protection is a staple of both home and rental insurance. The goal of the coverage is offering financial assistance with any claims of injury that occur on the property. It also covers accidental damage to someone else's property. This aspect of the policy protects the policyholder. 
 

Find the right rental or home insurance policy for your unique needs at Farmers Co-Operative Insurance Co. Since 1938, the company has proudly served the needs of farmers and homeowners across Kentucky. Their experienced team is committed to personable, friendly, and dependable service. Request an insurance quote today on their website or by calling (606) 796-2611.