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What Is Renters Insurance Really All About? Renter's insurance is protection intended for anyone who rents an apartment, home or other live-in dwelling. Purchasing renter's insurance can protect you against the risk of fire, theft, windstorms, falling objects, smoke, and vandalism. Another important aspect of renter' insurance is that it protects you against liability in the unlikely event that someone meets harm or injury in your home. While it is true that your landlord more than likely holds insurance on your residence his insurance normally only covers the actual building you reside in. The burden of replacing your personal property lies on you. The landlord's insurance definitely will not cover any legal responsibility for injury or damage to a guest or their property. In many cases rental insurance may even provide for the cost of a legal defense. It is also important to make sure you are aware of the different types of coverage and that you provide yourself with adequate protection. Personal property coverage protects the assets in your home such as your furniture and clothing. It also provides protection for those things you may have with you while traveling or away from home. Loss of use coverage pays for living expenses when an insured loss prevents you from habitation of your home. This includes food and shelter for the duration of time while your home is being repaired or replaced for up to two years. Inflation coverage routinely augments the amount of your insurance coverage as cost of living expenses increase. » Discuss it » Continue Reading »
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