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Whether you rent a home or an apartment, it’s important to protect your belongings from unseen events or damages. Renters insurance is a policy you can tailor to your specific needs to provide the coverage you need for yourself, your belongings, or the property you are renting. To determine if you could benefit from renters insurance, learn below what this policy covers and how it differs from homeowners insurance.

What Is Covered by Renters Insurance?

Renters insurance policies offer the flexibility you need to get the coverage that is customized for your particular living arrangement. While homeowners insurance focuses on the structure of the home and the belongings, renters insurance is designed to protect the tenant. Depending on what you want or what your landlord requires, there are typically three coverage variations you can select, including personal property, liability, and additional living expenses.

Personal property coverage offers protection if your property is damaged or stolen. This type of policy can be adjusted based on how much coverage you will need and may limit payback amounts for items like jewelry or a coin collection.

Liability offers protection in the event you accidentally damage someone else’s property, or if a guest is injured at your residence. This coverage can help you pay medical bills if you are found responsible for their injuries.

Policies, including additional living expense coverage, protect you if your property is damaged or uninhabitable. This policy can pay for some or all of your hotel costs, ensuring you don’t incur any additional charges.

What Are the Benefits?

renters insuranceThe largest benefit of renters insurance is having protection for the unexpected, typically at a low monthly or yearly premium. Whether it’s stolen or damaged property, this coverage will help you replace your belongings for considerably less than your out-of-pocket costs. Additionally, you remain protected if someone is injured in your home, helping cover medical bills that can continually add up.

 

If you are looking for assurance that you’ll be protected if damage occurs, talk to the professionals at A Better Choice Insurance Agency in Concord, NC. With more than 25 years of experience, you can get the renters insurance policy you need to safeguard your property and belongings. Learn more about their services by visiting them online or calling (704) 782-2073.

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