Renters Insurance policies are designed to cover you in the event of covered loss to your personal property and protect you in the event you are responsible for injury or property damage to others in your rented Apartment, Home or Condo. Now, you can apply for free online insurance quotes from more then one insurance company. An estimated 75% of Renters do not have renters insurance coverage. Landlords and complexes are now requiring Renter’s Insurance as a condition to rent.
Suppose you have visitors to your apartment and someone slips on a wet kitchen floor and breaks an arm? Who is responsible for the medical costs? In most circumstances you. Renters insurance in general provides “named peril” coverage, meaning the policy states specifically what you are insured against.
Renters Insurance may cover
Repair or replacement of your personal property damaged, destroyed or stolen as the result of various types of peril — fire or lightning, windstorm or hail, explosions, smoke, vandalism, theft, damage by glass, electrical surge damage, and water-related damage from home utilities, and more. If your home is made unlivable by one of these perils, Renters insurance will pay for the associated expenses (cost of a temporary residence, meals eaten out, etc.). Coverage is usually limited to a percent of the total value of the policy. Renter’s insurance can even cover you for personal possessions that don’t happen to be in the apartment at the time of the loss.