The primary selling point of renters insurance is its coverage of everything the tenant owns. This is important because the property owner’s insurance only covers the structure itself, not the renters’ belongings. There are many more ways a policy covers a tenant, however. Here are just four examples you might never have considered. 

Unexpected Ways Renters Insurance Saves the Day

1. Theft at Concerts & Festivals

Concerts and music festivals are certainly fun, but they also leave your personal belongings vulnerable. That’s why renters policies protect items away from home as well. If your phone, laptop, or other high-value item is stolen while you’re out and about—including from your car—you can be compensated for the loss. 

2. Accidents During Parties

Much like homeowners insurance, renters insurance has a liability component. That means if a third party is injured at your home, you’ll be covered when it comes to medical expenses and legal fees. Litigation can get very expensive very fast, especially when injuries are significant. 

3. Damage Caused by a Fire 

Even relatively minor fires cause quite a bit of damage. When you rent, only the structure you live in is covered by the landlord’s insurance. That means damage to the walls, ceiling, and floors will be covered, but it will take a personal renters policy to ensure you can be reimbursed for any losses you suffer. 

4. Temporary Living Expenses

In the event a fire or another disaster leaves you without a home until repairs are made, some policies even cover living expenses, including lodging and food costs in many cases. Keep in mind that you’ll only be reimbursed up to a certain amount, so read your policy carefully to determine how much coverage you actually have. 

As a proud representative of Nationwide®, the Phillip Kent Beck Agency provides exemplary customer service alongside its many reliable insurance products. These agents are glad to answer any questions you have about renters insurance, including how high to set coverage limits. If you’re shopping for another product, they can acquaint you with life insurance policies, coverage for the home, car insurance, and even commercial packages suited to small business owners. Residents in Archdale and High Point, NC, are encouraged to call (336) 434-2111 to schedule a consultation. Learn more about liability insurance by visiting them online.