What is Covered Under Renters Insurance?

If you are renting a home, you should know that your landlord’s insurance does not cover anything that you bring into the home. In other words, your furniture, your appliances, your clothing, and anything else of value that you have in your rented home is not covered by insurance. This also means that when a disaster strikes, your landlord can get the house repaired under his or her policy but your losses will not be reimbursed.

This is the main reason why renters are encouraged to get renters insurance. If you like your stuff and want to be able to replace damaged items without burning a hole through your bank account when disaster strikes, this insurance policy is a must. What exactly does renters insurance cover?

What your renters insurance can cover is dependent on the kind of policy you have. The coverage type you get will determine what kind of financial aid you will get when something happens to your home. To give you an idea, here is what each coverage type is and what to expect from each one:

• Personal property coverage – This covers any property you have that needs to be replaced or repaired. Whether your items are lost to a fire, water damage, or theft, this policy will reimburse you the cost of the items lost. The amount you will be able to get should you lose everything in a disaster such as a fire is dependent on the coverage limit of your policy.
• Liability coverage – This covers any repair costs you may incur should you damage any part of the home you are living in. If the fault for the damage is placed on your shoulders, chances are, your landlord will not use their insurance policy for the repairs but rather, will have you shoulder the expense for it. This is where liability coverage comes in handy. It can also cover medical expenses if a guest is injured in your rented home and you are found at fault for such injuries.
• Additional living expenses coverage – This covers any expenses you may incur should you find your rented home is uninhabitable after a disaster. This can cover your hotel bills and other expenses that come with the need to stay out of your rented home while it is being repaired

If you are renting a home in Houston or Cypress, Texas, you should take out renters insurance for your belongings. The company to trust with this kind of policy is Low Cost Insurance Texas. Aside from renters insurance, we also have auto insurance, homeowners insurance, and business insurance.

For all your insurance needs, contact us at 281-612-7178 and we will give you a free policy review as well as an overview of what insurance policies will best suit your needs.