What Is Renters Insurance?

If you have rented a condo in Kissimmee, FL, you might be under the impression that your landlord has an insurance policy covering the entire property and its contents. Well, that is wrong. Most landlords only cover the structure, and they do not have a policy that covers damages or risks faced by their tenants. This is the main reason why Familia Insurance Agency is encouraging tenants to get renters insurance. 

What is Renters Insurance?

A renters insurance policy is structured to protect your personal properties in a rented condo if you experienced unexpected occurrences such as loss of possessions, sewer damages, possible fire outbreaks, and theft. This type of insurance can also come in handy if a person is injured in your condo. 

As you can see, you can easily confuse renters insurance with homeowner’s insurance. However, the renter’s insurance policy is limited in that it does not cover the structure but the contents inside the rented room. That is why you should not depend on your landlord’s homeowners insurance to cover your belongings. 

How Does Renters Insurance Work?

If you experience risks on covered items in your rented room, the insurance policy will cover all the associated costs. The amount of compensation will depend on the level of your coverage and the loss you have experienced. Some standard coverage options you can get in renters insurance include replacement costs and actual cash value coverage. 

Do You Need Renters Insurance in Kissimmee, FL?

As you can see, your landlord’s homeowners insurance does not cover your belongings in rented apartments. It is upon you to get renters insurance and cover your belongings against possible risks. Familia Insurance Agency can help you get a personalized policy that will protect your belongings against fire, theft, and even natural disasters.