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Why you need Renter’s Insurance 101

Mar 15, 2020 | 0 comments

FOR IMMEDIATE RELEASE:

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Contact: Amanda Edmunds
nI & E Insurance Agency

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www.getinsurancequotetoday.com

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732-295-5584 
nineagency@gmail.com

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What is Renter’s Insurance?

nRenter’s insurance issues coverage for lost, damaged or stolen personal property. Additionally, it covers injuries that occur in your rented home or apartment and liability. n

What Does Renter’s Insurance Cover?

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nThere are three different coverages that are included under the renter’s insurance umbrella: liability, personal property, and additional living expenses. Liability coverage refers to a tenant’s liability for any injuries that occur in a rented residence.nLikewise, personal property coverage includes financial reimbursement for a tenant’s lost or damaged property in the event of theft, fire, or vandalism. Finally, additional living expense coverage applies to any additional costs one might incur in the event that your rented residence is damaged or uninhabitable. A standard HO-4 policy also reimburses you for loss or damage of your belongings in the event of:n

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  • Fire or lightningn
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  • Windstormn
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  • Explosionn
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  • Riot or civil commotionn
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  • Smoken
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  • Aircraft damagen
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  • Volcanic eruptionn
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  • Vehicle damagen
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  • Ice, snow or sleetn
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  • Sudden electrical current damage
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  • n Falling objectsn
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  • Sudden, accidental damage of plumbing, heating, air conditioning, automatic fire-protective system, hot water systems, and other appliancesn
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nRenter’s insurance does not cover you in the event of earthquakes or floods, because many companies offer separate flood insurance policies.n

How Does Renter’s Insurance Work

nIn the event of damaged or stolen objects, you must file a claim. If your claim is covered, your insurance company pays for the damages or lost items up to a specified limit.n

Why Do I Need Renter’s Insurance?

nWhile renter’s insurance isn’t legally required, certain landlords may request that you acquire it. Only 37{087d17640603a337667256787b24190956b30259a6495194059f124d228c56a4} of renters carry a policy despite it being a worthwhile investment. In the event that you are robbed or lose your things in a disaster, renter’s insurance covers what you’ve spent years accruing.nLooking into a renter’s insurance plan? Reach out to I & E’s experts. We will make sure to provide you with a plan that suits all of your needs and meets your budget.