Have questions about renter’s insurance? We have answers.
If you rent a house or apartment, you should know that if you don’t acquire renters insurance, you’ll be leaving yourself (and your belongings) exposed to significant risks. Many renters are shocked to find out that their landlord is not responsible for their personal possessions if they’re stolen or damaged.
Fortunately, this is where renter’s insurance steps in. Should a peril occur (such as fire, theft, a natural disaster), renter’s insurance provides financial support to repair and replace your belongings, as well as liability coverage for when someone is injured visiting your home. In essence, your belongings and possessions are covered!
Find out more about renter’s insurance in our FAQ below!
What is covered? Most insurance policies cover personal belongings: furniture, clothing, jewelry, electronics, and appliances, but only up to your policy limits. Be sure to update your inventory list of all of your personal possessions along with their estimated value to be fully reimbursed for any losses.
Do I need additional protection? Standard policies may limit coverage for valuable items such as jewelry, furs, coin collections, musical instruments, and expensive sporting equipment. For these, you may need a separate policy or a rider.
When am I covered? Your policy will note if you are covered in losses such as theft, fire, smoke, explosions, and water damage from leaking pipes. Storm and flood coverage may vary, but typical renter policies do not cover damages from flood and earthquakes – a separate rider must be purchased.
How much liability coverage do I need? Renter’s insurance typically provides liability protection that pays for the cost of defending you in court, only up to the limit of your policy. (Are we a broken record yet?). Therefore, make sure that your limit is not too low before purchasing the policy.
For the right insurance to protect your belongings and finances, secure the right renter’s insurance policy today! Contact Young Insurance to get started on your Burbank, California policies today.