Renter’s insurance is for occupants who do not own the property but want to protect their own personal belongings, carry liability insurance to protect their assets and also want to protect themselves if they are forced to relocate due to a covered loss. It is important for renters to note that the property owner’s Dwelling Fire Insurance does not cover their items if damaged or destroyed. Key coverage points:
- Replacing personal belongings inside the dwelling due to a covered loss.
- Provides temporary relocation assistance if you need to stay somewhere else while your rented residence is being repaired due to a covered loss.
- Protect your personal assets if you are found liable. Examples: Your child throws a baseball breaking a neighbor’s window or you accidentally leave the bathtub running overflowing and causing damage to the rented home.
- It can also extend to your means of transportation, covering items stolen from your car or a stolen bike subject to your deductible.
It’s important to note that this is a very high-level view of Renter’s Insurance. Most policies have many additions or endorsements that can be added to enhance your insurance policy to fit your needs. At EPB&B, our account managers are proficient in each company’s insurance policy and are here to help you find the right coverage.