When you rent a residence, having renters’ insurance is a must. It protects you in a number of ways, and it can ruin you financially if you don’t have this coverage. If you need renters insurance, contact us today at Jim Boyce Insurance in Matthews, NC.
Renters’ Insurance for Your Belongings
Unlike home and condo insurance, renters’ insurance does not cover the building or unit that you live in. The landlord has to insure it and is responsible for fixing it after a disaster or calamity. However, like those policies, renters’ insurance covers the belongings that you have inside your home. If a serious incident should happen that ruins, or destroys, your possessions, your renters’ insurance will pay for you to replace them. This is important coverage for every renter, and no renter should be without it.
Coverage for Your Liability
It is possible for a guest in your home to have an accident or get sick and for you to be found liable for it. This can mean lawsuits and huge legal and medical bills that you would be responsible for. However, renters’ insurance comes with coverage for that liability. If someone does get sick or injured in your rented home, your renters’ insurance liability coverage will pay for those bills up to the policy’s maximum so that you don’t have to.
Insurance for Your Standard of Living
If a serious incident like a disaster or other tragedy were to occur and your rented home was left uninhabitable, you will have to live somewhere else while it is being fixed. Renters’ insurance can help in this situation as well. It pays for you to move out and to live elsewhere while the landlord has the rental fixed. This keeps you at a higher standard of living instead of forcing you to stay in a ruined home.
If you don’t have renters’ insurance yet, call us at Jim Boyce Insurance in Matthews, NC.