Why you should have Rental’s Insurance
While many property owners do have Florida homeowner s insurance, that often doesn’t cover you or your personal belongings when you rent a unit from them. They may not require you to carry a renter’s insurance policy of your own, but here are some things to consider, before making your decision.
1. Rental’s Insurance is Inexpensive.
For one year, the average cost of Rental’s insurance is just $187. While that number may be adjusted according to your location, the value of your belongings, and other factors, it’s still an affordable way to ensure peace of mind.
2. Your Personal Property Will Be Covered
This means your insurance company will cover the cost of having your items replaced in the case of damage or theft. Even if your belongings aren’t very valuable, isn’t it better to know you’ll have help in replacing them in the event of an accident or burglary?
3. Your Visitors Are Protected
Most renter’s insurance policies cover medical expenses and legal fees in the event a guest is injured, while visiting your apartment. Even though they’ll only be covered up to the limit on the policy, that can be as much as $100,000 worth of coverage on some policies. The coverage can even be increased, if you’re willing to pay a larger premium.
4. Your Coverage Goes With You
Most policies will cover your belongings, even when they’re not in your apartment. This means they’re covered, while being transported in your car or when you take your clothes and jewelry with you on that trip to the Cayman Islands. As long as your policy covers the type of damage that occurred, your insurance company will cover the losses.
5. Additional Living Expenses
Suppose your apartment becomes uninhabitable as the result of damage covered by your policy. In that case, you’ll be able to receive assistance in paying for temporary housing, food, and other necessities.
To learn more about renter’s insurance, contact Riemer Insurance Group, a member of Hallandale Florida Insurance Groups. By speaking with a professional and experienced broker, you can learn more about the benefits of renter’s insurance and your specific coverage options.