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Every year, thousands of people move into a new apartment, condo, or rental home in our area. However, few realize the importance of taking out a renters insurance policy.
If you are one of these renters and are on the fence about purchasing coverage, here are three important facts to consider.
Renters Insurance Fact #1: Your Policy Includes Liability Coverage
One overlooked fact about renters insurance coverage is that most standard policies include a provision for liability coverage. This means that if a guest becomes injured while visiting your home or as a direct result of your actions, your renters insurance policy would help pay for their medical bills and any associated legal fees if you are sued. In certain circumstances, pet bites are also covered under this section of your policy. Liability coverage is important to have, as it protects your financial well being if an unfortunate event occurs.
Renters Insurance Fact #2: Your Belongings Are Covered Anywhere in the World
Most people understand that a renters insurance policy covers their personal belongings while inside their home or apartment. However, this type of coverage goes far beyond by protecting your items anywhere in the world. This means that if you are traveling and something is stolen from your luggage, you have coverage. It also means that if you accidentally leave your cell phone, laptop, or other item in your vehicle and it is stolen, you are also covered. This extension of coverage is especially important for those who go on vacation often or travel for work.
Renters Insurance Fact #3: You Might Get a Discount for Having Coverage
Another important fact to consider about renters insurance is that you might get a discount for having coverage. Many insurance carriers offer a special incentive for having a renters policy with the same company as your auto policy. And some Florida landlords and apartment complexes even give tenants a percentage off of their rent for having renters insurance. Of course, whether or not you qualify for these discounts is determined by your exact situation.
While these three facts are definitely important benefits, there is much more to what renters insurance entails. For more information or to receive a no-obligation quote, please contact our team at McCormick Insurance Inc. today.