Most Frequently Asked Renters Insurance Questions – Answered

Most Frequently Asked Renters Insurance Questions – Answered

Renters insurance provides you the same basic coverage as a traditional homeowners’ policy without covering the structure of your home. Most renters’ policies include some form of liability coverage as well as coverage for your personal possessions. There are many common questions about renters insurance. Talking to a reputable agent is the best way to get answers.

Why Is Renters Insurance So Important?

Protecting your personal possessions with a sufficient insurance policy is the best way to ensure you are compensated if your items are lost, damaged, or stolen. You will receive the compensation you need to replace your items without having to start over from scratch. It also covers you in case you damage the renter’s possessions.

Is My Landlord Responsible for Any Type of Damages?

In most cases, your landlord is only responsible for the structure you live in. They may be responsible for damages to your property if they were aware of an issue but did nothing to correct the problem. If the cause of the damage was the result of your landlord’s negligence, your insurance company may pay the claim but will seek compensation from the landlord.

Is Renters Insurance Expensive?

Renters insurance is not as expensive as most people think. The renters’ policy covers a specific amount of liability as well as the amount of money it would cost to replace your possessions. Keeping an itemized list of all your valuable belongings is the best way to make sure you have sufficient insurance coverage in place.

Does renters insurance cover anything beyond my personal belongings?

Your insurance can protect you in certain unpredictable situations where your home or apartment may be damaged by factors beyond your control. It’s better to discuss with your insurer on this and to learn about coverage limit, in case such a benefit is provided.

When you have questions about renters insurance, the agents of Steve Wilks Insurance Agency have the answers you are looking for. Understanding where your landlord’s responsibility ends and yours begin will allow you to choose a renters’ policy that will provide you with the most beneficial coverage for your needs.