Renter’s insurance is designed for those who rent their homes or apartments rather than own them. Renter’s insurance is differs from homeowners’ or auto insurance in that it only covers personal possessions inside the walls of your rented home. Landlords ordinarily will have a policy that provides coverage for the actual structure within which you live. Should an accident, fire, or individual destroy any of your personal belongings, then this is the kind of insurance that will help to reimburse you for any lost or damaged personal items.
Should some kind of covered loss occur, you then file a claim and an adjustor will contact you to get a fair settlement. Depending on the policy, different items are covered at varying rates and percentages of an assessed replacement value. You can add items to your policy in order to cover a large amount of jewelry or electronics that you own in the premises.
You can get a wide range of coverage with this kind of policy. You can obtain coverage specifically for jewelry or electronics such as computers. There are policies that offer small deductibles yet still cover the full replacement value of items. Also, and quite importantly, a renter’s insurance policy can also provide coverage if someone were to hurt themselves while inside your apartment. Keep in mind that this insurance is so important there’s a possibility that the landlord may mandate you to purchase it. And, finally, the priceless peace of mind that this insurance affords a renter is unquantifiable. Talk with an insurance professional today for more info on renter’s insurance.