And what about those who rent? If you’re a tenant, there is a different type of insurance you can avail that’s called renters insurance. Continue reading for all the details about renters insurance.
Let’s first explain what exactly renters insurance is. Renters insurance provides protection against covered losses. Examples of losses that are covered comprise lightning, wind or hail, fire or theft.
There are two kinds of renters insurance which are property insurance and liability coverage. Property coverage is for loss of usage, liability is for medical expenses as well as liabilities. If there is anything else you’d like included in your policy the insurance company may assist you.
Renters insurance is different from home or homeowners insurance by the fact that it does not include your house, but rather your personal items inside such as clothes, furniture and computer. Insurance for loss of use is designed to cover additional costs you might incur as a result of the loss of your home rental.
For more information on renters insurance, take a look at the above video!