When renting an apartment, condo, or home most people think their liability and possessions are insured by their landlord. The truth of the matter is that the insurance your landlord has does not cover personal belongings of their tenants or the personal liability coverage needed by all renters. When you rent somewhere to live, your landlord has one responsibility insurance wise - himself. The landlord has insurance to cover his or her interests, in this case, the property itself. If there is a fire in a home you are renting, the landlord is insured for the building, not your belongings.
How do you make sure that you have coverage for your things? Easy! Get a renters insurance policy! Renters insurance acts as a homeowners policy for those who rent their place of residence. This means that the same types of loss covered by homeowner's insurance, such as fire, theft, vandalism, and water damage, are protected for wherever you rent.
Another perk to purchasing a renters policy is if you are named in a law lawsuit, this coverage is there for your defense. Also, if there was an injury on your premises, your renters policy would cover up to a certain amount of the costs required to defend yourself.
How much does all of this cost? Well to be accurate, you would need to call us at Ross Insurance Agency and we would be happy to do a quote for you. In general these types of policies are not expensive. Maybe $100-200 a year depending on the amount of coverage you decide to purchase. Another perk is that starting a renters policy with the same company you have an auto insurance policy with could save you money on your auto premium!
Taking action in protecting your assets is something that we not only recommend, but would be glad to help you with Please don't hesitate to call our office and talk to one of our agents today. Don't make the mistake of thinking that you are protected - make the move to guarantee that you are and don't have renters remorse.