You may have heard someone ask you, "Why do I need renters insurance? Wouldn’t my landlord’s policy not cover me?" Whether a seasoned renter or renting an apartment for the first time, you need renters insurance. Why? If you want to find more, contact Great Southern Agency located in Tomball, TX. We can break it down for you.
Typically, you aren’t required to carry renters insurance by law, but some landlords may expect you to buy a policy to live in their building. But whether required or not, it’s a good idea to purchase renters insurance because it covers you in the following areas.
Personal property coverage
Think about how much money you have put into buying your clothing, electronics, and furniture. Quite substantial, right? Now imagine what fire or theft could do to your personal stuff. But because perils can’t be eliminated 100 percent, renters insurance protects your valuables when the worst happens. In case of damage, your renter’s insurance replaces your personal belongings up to your policy limit.
Covers medical costs for injuries suffered by third parties while on your property. It also covers legal fees if the person goes ahead and sues you. Additionally, liability coverage covers damages you might have caused to another person’s property.
Additional living expenses
If your apartment becomes unlivable, and you have to seek temporal accommodation (maybe a hotel), your insurance covers expenses you incur for living somewhere else.
There is a common misconception that your landlord’s insurance covers you. This notion isn’t true. Your landlord’s insurance covers the building and not your or your personal belongings. That said, anyone renting a condo, apartment, or townhouse should get renters insurance because of the wealthy benefits it has.
Renters insurance in Tomball, TX
If you want to purchase coverage, we can provide a quote. Need more information on renters insurance? Please contact Great Southern Agency for more insight.