If you’re renting a home and think that Homeowners insurance will pay for loss or damage to your belongings, think again.
A Homeowners policy covers the structure of a dwelling and lot, not the contents of the home. As a renter, you’ll need Renters insurance to cover your possessions.
Here are more tips about this coverage:
- Because your possessions are worth only a fraction of a building’s structure, a Renters policy will cost much less than homeowners insurance.
- If you have a roommate who carries a Renters policy, find out if it covers your belongings.. Chances are that you’ll need to buy your own insurance.
- When you’re considering the amount of coverage, be sure list everything you have: appliances, rugs, and furniture (even hand-me-downs) Replacing a flat screen TV, refrigerator or bed. can get pricey.
- Don’t assume that you can avoid a natural disaster Remember, anything can happen to anyone at any time. It’s far better –and less expensive — to be safe than sorry.
We’d be happy to provide you with help (including a sample inventory of household contents) to choose a policy that can protect your precious possessions, at a price you can afford.