Like homeowners, renters can experience a wide range of accidents—such as fire or theft—that put their safety or property in harm’s way. But since these tenants aren’t candidates for homeowners insurance, they often find that their belongings aren’t protected against these incidents. Fortunately, agencies offer comprehensive, affordable renters insurance plans that can cover these gaps. If you’re leasing a property, here are a few reasons why you don’t want to be without this type of coverage.

5 Coverage Benefits of Renters Insurance

1. Stolen or Damaged Belongings

Theft, fire, or plumbing leaks are all incidents that can put your valuables at risk. Rather than having to pay for their replacements out-of-pocket, your renters insurance policy will cover a wide variety of belongings—such as televisions, computers, jewelry, and furniture—up to a certain limit. To ensure these goods are covered, you’ll provide your agent with a detailed list of belongings and their respective values.

2. Property Damage

The landlord should possess insurance to cover certain types of damage to the actual building. For instance, their property insurance should cover roof repairs caused by severe weather. But if you or one of your guests causes the damage, you may still be on the hook for repair costs. Renters insurance will provide funds to cover these incidents.    

3. Emergency Living Expenses

If the property damage is extensive enough, it may become unsafe for you to continue living in your rented property. Renters insurance policies offer coverage to pay for living expenses that result from these emergencies. For example, they can cover the cost of a hotel, food, and other personal items you may need.

4. Guest Injuries

When visitors are injured on your property, you may be held at fault—even if you don’t own the home or apartment. If you’re found liable, you may be responsible for paying any medical fees that result from the injury. Renters insurance, however, will pay for these costs up to a certain amount, as well as any related legal fees.  

5. Travel Protections

Even when you’re not at home, renters insurance can provide comfort. Specifically, it can cover the cost of replacement if your personal belongings are damaged or stolen during travel.

Although the value of renters insurance is easy to illustrate, many consumers fear that the cost of a policy will be too high. That’s why C.I.S. - Crop Insurance Solutions, LLC is dedicated to helping their clients secure reliable policies that are also budget-friendly. Serving the Dumas, TX, area, this local insurance company will craft a custom plan to fit your specific needs. Plus, if accidents happen, you can count on these compassionate agents to provide dependable claims support. You can learn more about this agency and its products—including home and auto insurance—online. For a quote, call (806) 935-6512 to connect with an English- or Spanish-speaking agent.