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Renter's insurance protects the belongings of a tenant living in a leased or rented residence. It offers some of the same coverage that a home insurance policy provides a homeowner, but the focus of coverage is on the belongings of the policyholder, not the physical structure of the property. To help you better understand the benefits of this type of insurance, below are answers to some of the more commonly asked questions about renter's policies.

Answers to Common Renter's Insurance Questions

What exactly will my policy cover?

It's important to read the fine print on your policy, as coverage can vary from one plan to the next. In general, renter's insurance will reimburse you for the costs of your belongings if they are damaged or lost because of a fire, theft, vandalism, or certain natural disasters. It may also cover expenses if you need to live away from home while smoke or water damage is repaired.

insuranceMany policies include some amount of liability protection; for instance, if someone falls in your residence and suffers an injury, they can file a claim with your provider. Be sure to check policy limits, as there are always caps to the amount of coverage the insurer will pay.

Who should have renter's insurance?

Any renter can benefit from the safeguards—and peace of mind—afforded by this kind of coverage. A policy is especially critical for those who have valuable items like electronics, antiques, or artwork. But even if you don't many high-dollar possessions, consider the cost of replacing all or most things in your home. It's likely a substantial amount. Renter's insurance premiums are a small price to pay in comparison.

Is renter's insurance required by law?

In Florida, there is no law requiring renters to carry insurance coverage. However, some landlords will include a provision in the lease that stipulates that all tenants hold active renter's insurance policies. If you sign a lease with this provision, you’re contractually obligated to carry the required coverage.

Does renter's insurance only cover items in my apartment?

No, and this is one of the distinct advantages of a renter's policy. Most plans cover your belongings no matter where they are. For instance, if you're on vacation and an item in your possession is stolen or damaged, or if an item is stolen or damaged while kept in a storage unit separate from the residence, many policies will cover the cost of replacement.

 

To explore your rental plan options, consult an insurance professional. Seeman Holtz in Palm Beach County, FL, offers a variety of policies to suit the needs of any renter. They also provide home, business, life, and auto insurance solutions. Request a quote by calling (800) 991-3592 or visiting their website.

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