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One of the upsides of renting a home is knowing you won’t be responsible for damage to the structure if a flood, serious storm, or fire sweeps through the building. However, you’ll still have to replace your furniture, clothes, and any other belongings lost in a disaster, which is why renters insurance is such a valuable investment. Below are answers to some of the most common questions renters ask about this critical coverage.

Frequently Asked Questions About Renters Insurance

Does my landlord’s insurance cover my belongings?

If you rent your home, the property owner likely has coverage to protect the building itself. However, rental property policies almost always exclude the personal possessions of tenants, so you’ll need your own coverage to protect your belongings.

What does renters insurance protect against?

renters insuranceThe standard renters insurance policy protects against a wide array of common threats, including thunderstorms, fires, and theft. However, floods and earthquakes are typically excluded, but you can purchase additional coverage to protect against these highly destructive threats.

Does it include liability coverage?

If a guest trips on a cluttered stairway or your child throws a rock through a neighbor’s window, you could be held liable for the damages. Like home insurance, renters coverage includes liability protection that covers the value of valid claims, as well as any legal costs you incur.

Is it expensive?

Because it doesn’t have to cover the building itself, renters insurance is quite affordable. Costs may increase if you attach riders. Scheduled property riders, for instance, can provide coverage for valuable items like engagement rings that might not be fully protected by basic plans. A pet damage rider will help offset costs should Fido scratch the floors or otherwise damage your rental, but may add to your premium costs.

 

With over 20 years of experience and relationships with some of the best carriers in the industry, Town and Country Insurance Agency is committed to helping renters throughout Augusta County, VA. Their friendly, knowledgeable agents take the time to understand your situation and shop around for policies tailored to your needs. Visit their website for an overview of their products and services, or call (540) 221-2465 to request your free renters insurance quote.

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