Unexpected Perks of Renters Insurance You Probably Didn’t Know

Renters insurance can be an essential investment if you’re a tenant in someone else’s apartment, house, condo or other dwelling. While it’s typically your landlord’s responsibility to insure the building itself, including its walls, roof, foundations and plumbing and electrical systems, you’ll likely want to retain renters insurance to cover your own belongings, as well as for some other perks you may not have expected.

What Can Renters Insurance Cover?

When thinking about renters’ insurance, your mind might first go to coverage for your personal property. As you likely know, landlord insurance does not extend to the contents of your rental, such as electronic devices, furniture and clothing. However, beyond this largely understood coverage, many standard policies may also include the following:

• Coverage for off-site belongings—You may not realize that even personal property not physically in your home can be covered by renters insurance. For example, if your phone is lost or stolen while you’re out and about, you may be eligible for aid.

• Personal liability coverage—Renters insurance also typically includes financial protection for other parties’ losses if you’re at fault. This could mean that if a guest is injured while visiting your home or you accidentally damage someone else’s property, your policy could insulate you from out-of-pocket expenses.

• Additional living expenses coverage—Although your landlord is generally responsible for maintaining their rentals, repairing or remediating a damaged unit may take time. If you have to temporarily move out due to a covered incident, your policy may help manage resulting costs, such as finding alternative accommodations and putting your belongings in storage.

We’re Here to Help

At Fast Insurance in Apache Junction, Arizona, we’re well-versed in the world of renters insurance and can help you understand its various facets and coverages. Contact us today to learn more about your options or compare personalized quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.