Renters Insurance

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Renters Insurance

Basically, renters insurance acts as a homeowner’s insurance policy for those who rent their place of residence. Whether you live in a condo, apartment, house, duplex, etc., renters insurance can protect you and your assets. Having renter’s insurance can help devoid costs of damages should anything happen to a rental property that you are living in.
Doesn’t My Landlord’s Insurance Cover Me?
NO! Do not make the mistake of assuming your landlord’s homeowners insurance will cover you and your assets.

A landlord’s policy covers only the physical structure of the rental property, not your belongings. If the person who owns the building has rental insurance, they will be protected from costs to them should something happen to the building, but they are not responsible for covering your belongings.

Additional Coverages

Personal Liability

Your landlord’s insurance does not cover your personal property. A renters policy covers your personal belongings such as your cloths, stereo, furniture, television, bicycle and other items.

Renters Insurance protects you against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and water damage from plumbing. It covers your responsibility to other people injured at your home, includes legal defense cost if you are taken to court.

Condo Coverage

You will need two separate policies to protect your investment. Your own insurance policy will provide coverage for your personal possessions, structural improvements to your unit and additional living expenses if you are the victim of fire, theft or other disaster listed in your policy. You would also get liability protection. A “master policy” provided by the condominium association. This will cover the common areas you share with others in your building like the roof, basement, elevator, and walkways for both liability and physical damage.

Condo Coverage

You will need two separate policies to protect your investment. Your own insurance policy will provide coverage for your personal possessions, structural improvements to your unit and additional living expenses if you are the victim of fire, theft or other disaster listed in your policy. You would also get liability protection. A “master policy” provided by the condominium association. This will cover the common areas you share with others in your building like the roof, basement, elevator, and walkways for both liability and physical damage.

Flood Insurance

A form of insurance designed to reimburse property owners from loss due to a defined peril of a flood. A flood policy protects you from flood

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