The Benefits Of Renter's Insurance

Personal Property

Personal property is anything belonging to a renter in the home or apartment they live in. It’s tangible property such as their clothing, furniture, and electronics. A renter’s insurance policy covers these belongings up to a certain limit. All renters are required to set that limit within their policy when choosing a policy. For example, a renter with a large rental home and many expensive items might choose a much larger and much more valuable policy than a young couple just starting out with secondhand furniture. This coverage allows the renter to collect payment for the damaged property inside the home if an unexpected event occurs, up to the stated limit. If the value of the items in the home exceeds what the policy covers, the renter will not receive money to replace the items or repair the extra damage.

Continue to reveal how loss of use coverage works in renter's insurance.