Why You Need Renters Insurance

Here's why securing renters insurance is in your best interest.

If you are renting a home or apartment, then you might assume that your landlord is responsible for insurance.  While it's true that your landlord must secure insurance coverage for physical damages to the property, this is where their obligation ends.  Therefore, it is up to each individual renter to secure coverage to protect their personal belongings and liability.  Fortunately, this is where renters insurance comes into play.  Here are some of the important things that renters insurance will do for you.

• Protect Your Belongings

Renters insurance policies are designed to protect your personal belongings from damage or loss.  For instance, if some of your possessions are stolen during a break-in or damaged during due to a water leak, then your insurance would pay to repair or replace them.  This coverage extends to a variety of belongings, including clothing, jewelry, furniture, electronics, and so on.

• Offer Personal Liability Coverage

If someone injured themselves while inside your rental or, if you accidentally caused injury to another person, then you would have a serious personal liability issue on your hands.  Fortunately, renters insurance offers coverage to address third-party medical costs and even provides coverage for your legal expenses should the injured party decide to sue.

• Cover Additional Living Expenses

If your home or apartment is temporarily uninhabitable due to a covered peril, then your renters policy will offer coverage to help you address your additional living expenses.  For instance, your insurance will help you pay for things like hotel stays, restaurant bills, and other costs associated with living away from your rental until it is properly repaired.

These are some of the reasons why you need renters insurance.  Do you need help securing this coverage?  If so, then contact the experts at the Scavone Insurance Agency Center LLC in White Plains, New York today.