What does renters insurance cover?

Renters insurance is, no doubt, one of the most overlooked but valuable pieces of financial protection you can get as a renter. In the last few years, renting has been on a significant increase but a survey by Nationwide in 2014 revealed that 56 percent of renters who fall between the ages of twenty-five an thirty-five do not have renters insurance. However, this may be a result of the various renter’s insurance myths or just the fact that most renters do not understand what they stand to benefit and what exactly a renters insurance covers. So what does a renters insurance cover?

Personal property

With a comprehensive policy, a renters insurance will cover costs that go into replacing your personal belongings like electronics, furniture, jewelry, clothing, and appliances. With a basic renters insurance, you will be reimbursed for the loss of property in case of disasters like fire and lightning, explosions, windstorm and hail, riots, theft, vandalism, volcanic eruptions and much more.

Personal liability and medical bills

A good renters insurance from a reputable firm like Familia Insurance Agency covers costs that you may incur in situations where a visitor is injured while at your apartment. This also includes cases where your dog or cat bites them. In such instances, your policy ought to include medical coverage that covers injuries without a lawsuit getting involved. For more information, feel free to contact Familia Insurance Agency with its offices in Kissimmee FL

Temporary living expenses

In some cases, your residence may be damaged to a point it is not habitable anymore and you are forced to look for alternative means. In such a case, a good renter’s insurance policy ought to cover the costs of a temporary place of residence. This may include full compensation right from hotel bills to food costs.
Apart from these, a renters insurance may also cover other losses you may not have expected like credit card forgery and other items stored elsewhere as long as they were part of the cover.