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Maheu Insurance Blog Article

 

Why is Renters Insurance Important?

Posted by admin VIP    04/23/2012 12:31 PM

apartment1.jpgMany renters may be unaware that their personal belongings will not be replaced in the event of an unforeseen incident that destroys them, if they do not have the right protection. A Renters Insurance policy is just that.

Your landlord probably has insurance on the building that you live in, though this policy will only cover the landlords property and the building itself. So what about your property? 

A renters policy will cover you for such things as a building fire, theft, vandalism, or if the building suffers water damage from a broken pipe. These are just some of the unfortunate events that can happen and Maheu Insurance has an affordable solution so that you can be protected.

Along with your personal property, a renters policy (sometimes referred to as apartment insurance) also offers liability coverage and medical expenses for bodily injury to another person while at your residence. It can also cover your legal defense in these matters if the situation arises.

Another benefit to having renters insurance is that you will not become homeless if your rental unit becomes uninhabitable for a covered loss. A standard renters policy includes "loss of use" coverage. This coverage will pay for your temporary relocation and the additional living expenses that go along with such a move (including but not limited to laundry, clothing and meals) up to the limit of this coverage on the policy.

When shopping for renters insurance, make sure you are receiving all of these coverages. A good place to start is with the same agent that carries your auto insurance. Sometimes you will receive a discount on your auto insurance if you package them together. 

To calculate how much renters insurance is adequate for you, create an inventory of your personal belongings, including electronics, clothing, appliances, tools, sporting & music equipment, jewelry, furniture and anything else you own and calculate the replacement cost of these items.

After purchasing a policy, store this inventory in a safe place away form your unit so the replacement of your items will be easier.

It's nice to have peace of mind knowing that the things you have worked hard for are safe.              

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