When you are leasing an apartment or house, protection for yourself and your belongings is necessary. Having renters insurance is the best way to safeguard yourself for the duration of the lease agreement, especially because the landlord’s insurance policy will not cover you. Below are several aspects that this policy will cover.

Why You Should Purchase Renters Insurance

1. Damage

If something damages your belongings, renters insurance can compensate you for either the cash value or replacement cost. For example, fire, wind, tree damage, and more can all devastate property, but your insurance policy will make sure you can replace everything. Because the policy covers your possessions, this can also include items that you are borrowing or renting inside the home unit, such as textbooks. In addition to item damage, renters insurance also covers anything that you may break inside the rental that belongs to the owner, such as the walls.

2. Injury

Injuries happen, but when they occur on your property, you may be liable for the medical bills. If you or someone else gets hurt in the home, renters policies will cover up to a certain limit, which usually ranges from $1,000 to $5,000 for medical costs. It may also cover legal fees if the injured party files a lawsuit. Some plans also provide coverage if your dog bites someone on or off the property. Check with your provider to find out if they include this clause.

3. Theft

Someone breaking into your apartment is devastating and inconvenient, especially if you are a student who loses a computer. Having insurance will offset the costs of the break-in, including stolen items and any damage that the burglar may cause. This is essential coverage to have, as the landlord’s policy likely will not replace your items.

4. Off-Premises Items

Renters insurance policies also cover items that are not on the premises. If you are traveling and someone steals your luggage or breaks into your hotel room, you can claim anything that is lost or destroyed. Policies also typically cover items in your vehicle. However, off-premises clauses often only include a percentage of your total coverage, so check with your agent.

If you need renters insurance in Cincinnati, OH, call Stautberg Financial Group. The family-owned insurance agency brings more than 30 years of experience to every client throughout the Tri-State area, whether they are looking for life and health insurance or auto and property policies. The insurance agents can walk you through options to find the best coverage for your needs. Call (513) 821-6300 to schedule an appointment. Visit them online for more information about their services.