Even if you think you don’t own very much, renter’s insurance is a crucial investment that protects you from various unexpected hazards. Unfortunately, as critical as this vital coverage may be, many renters don’t fully understand the benefits or mistakenly believe that they’re already covered by their landlord’s policy. Here are answers to some common questions agents often hear about renter’s insurance.

Answers to Your Common Renter’s Insurance Questions

Won’t my landlord’s policy cover me?

Your landlord probably does have an insurance policy to cover the building itself, but that protection likely won’t include your personal possessions. In fact, most rental property insurance policies specifically exclude the contents of renter-occupied buildings, so you’ll need to purchase your own coverage.

How much coverage do I need?

Most people own more than they think once they include small-value items like dish towels and clothes. To get an estimate of how much coverage you’ll need to fully protect yourself in the event of a total loss, double the value of all of your most valuable items like electronics and personal possessions.

Will renter’s insurance help if my home is completely destroyed?

If your home is a total loss or needs extensive repairs, you may need to stay in a hotel or a furnished apartment until yours is habitable again. Most renter’s insurance policies will cover these costs for you, potentially sparing you from serious financial trouble.

Does renter’s insurance protect against lawsuits?

Like homeowners policies, the standard renter’s insurance policy includes liability coverage that protects you from various lawsuits. In addition to paying victims for valid claims, your policy will also cover the cost of defending yourself against spurious suits.
 

For over a decade, renters throughout Durham and Raleigh, NC, have relied on Superior Insurance to protect them from the unexpected. Their team maintains relationships with a wide range of reputable carriers and are dedicated to giving you better choices. Follow their Twitter for more tips and advice, and visit their website or call (919) 224-8034 to request a renter’s insurance quote from their Durham location. To speak with an agent in Raleigh, call their offices at (919) 790-9699 today.