One of the requirements of owning a home under a mortgage is home insurance, but did you know that as a renter, you should also have insurance? In many situations, when renting a home or apartment, insurance is not a requirement. However, it is inexpensive, and it is a financial tool to help protect you and your belongings. Here are just a few reasons why renters in Orleans, IN should talk with Busick Insurance Agency LLC about obtaining renters insurance.
Liability coverage protects you against the legal responsibilities of paying for damages should someone get injured while visiting you in your home or apartment. For instance, if you have a guest that slips and falls in your home and needs medical treatment, your renter’s insurance will protect you against the liability of covering the cost for their treatment. Renters insurance will also protect you up to the limit of your liability should the person choose to sue you in court.
Coverage When Unable to Stay in Your Home
Should there be a natural disaster or other force that makes your home unlivable during repairs, your renter’s insurance will cover the cost of the expenses you incur while staying somewhere else during the renovations. The amount of coverage varies from policy to policy. So, it’s important to talk with your provider about your specified requirements and the amount of coverage.
Should someone break into your home and steal your belongings, without insurance, you are responsible for the cost of replacement. However, with renters insurance, the cost of replacing your personal belongings will be covered. Your insurance provider will request a list of all valuables in your home, so be sure to keep a copy of this in a safe place, so you will know if damaged or stolen items are covered in your policy.
Although your landlord is responsible for the repairs of any structural damage, such as damages caused by the weather, they are not responsible for the cost of damages to your personal belongings. Renters insurance is an inexpensive way to ensure you will not be out hundreds of dollars to replace damaged or stolen items should a disaster occur or damages caused by intruders.
Residents of Paoli or Orleans, IN that are interested in the purchase of renters insurance should contact Busick Insurance Agency LLC.