When you rent your home, you get to avoid the expenses and frustrations of ownership. When something goes wrong, the burden falls on your landlord to correct it. While you are not responsible for your rental unit itself, you are responsible for protecting yourself and the things you own. Renters insurance is coverage for your personal belongings and liability when things don’t go your way. Whether you are renting your first place or leasing the home of your dreams, you need insurance so long as you live in a rental property.
Renters Contents Coverage and Loss of Use
Renters contents coverage is protection for your personal belongings if they are damaged or stolen due to a covered event. Many different named perils are typically covered, including:
- Fire
- Inclement weather (i.e. wind, hail, lightning)
- Theft and vandalism
- Accidental water damage (i.e. burst pipe)
- Falling objects
- Weight from ice and snow accumulation
- And more
You are only responsible for your deductible – an amount you choose to pay toward the cost of your claim. Your insurance company will reimburse you for the rest of your covered belongings, from the big things, like your furniture and wardrobe, to the little stuff, like your favorite vase. It can also help you cover the cost of temporary shelter and food while your rental home is being repaired.
Everyone needs contents coverage, regardless of how much or how little you own. If you have lived in the greater St. Louis area for very long, you know the weather can change at the drop of a hat. If a storm blows through and damages your apartment complex, what would happen if the damages were too severe for you to continue living there? Could you afford to find temporary housing at a moment’s notice? What if your rental house were broken into and all of your electronic and valuables were stolen? Could you afford to replace them? These are just a couple of scenarios in which your renters insurance could help cover your loss.
Renters Liability
Our renters insurance also includes liability protection, which assists you in covering your financial obligations if you are accused of negligence that results in another person being injured or suffering property damage. You can be held financially responsible for incidents that occur inside or outside your rental home. For example, if your children are playing in the backyard and one of them pushes another neighbor’s child off the swing set and they break their arm, or your dog digs up the apartment complex landscaping, liability insurance helps cover the ensuing costs. Most expenses are covered, including:
- Medical payments
- First aid expenses
- Property repairs and replacement
- Legal defense fees
- And more
Remember, you cannot rely on your landlord’s insurance to protect you. Your landlord’s coverage is designed to cover the house or apartment itself – not you or your belongings. Furthermore, you will be expected to pay for any damages to the property that you are responsible for. Make sure your renters liability insurance has you covered.
If you rent a home in St. Peters, Kirksville, or anywhere throughout the Midwest, let Mid Rivers Insurance assist you in building a policy that is specifically designed to cover you and your belongings. We can shop and compare rental insurance rates from multiple companies until we find a policy that meets your coverage needs and budget. Call us today to request your free renters insurance quote. We look forward to serving you soon.
