The Ins And Outs Of Renters Insurance

​Not only can homeowners get compensated for damages to their property and belongings, but renters can as well. If you need to relocate temporarily for a few months or years, one way to lessen your worries about living on someone else’s property is through renters insurance. It is similar to homeowners insurance but more affordable. 

What is Renters Insurance? 
The main reason to get such insurance is to ensure that your personal belongings will be covered if damaged or stolen. As a tenant, you will be saving yourself from more unexpected costs. These types of financial protection below may be included in your renters' insurance policy.

Types of Renters Insurance
You may or may not have these included in your policy, so it’s best to know them so you can ask them specifically from your insurance provider. 

Personal Property Coverage
If your personal belongings get stolen off the property or damaged, this type of insurance may just take care of it. Gadgets like your laptop, furniture, and cookware can be covered depending on your policy’s limit. If you want to include your roommate’s stuff in the coverage, add them to your policy.

What else can be added to this coverage? You can add riders to your renters' policy since not all items can be covered. Here is what most people add to this type of insurance.

Pet rider 
Adding a pet damage rider to your policy may cover medical expenses when your pets accidentally hurt somebody.

Earthquake rider 
If renting at an earthquake-prone location, you may add this rider to your policy since natural disasters like this aren’t covered by your renters' insurance.

Scheduled property rider 
Adds expensive items that exceed your policy’s limits.

Liability Coverage
This coverage protects you if you cause someone harm or cause damage to a belonging while you are at your rented property. Medical expenses due to injuries that happen at your property may be reimbursed. It may also include injuries that you cause outside your property. But make sure they file their health insurance before you pay for their medical expenses. 

Conclusion
No matter how comfortable you get at a place you only lease or rent, circumstances will still need extra measures. Taking a good inventory can help you save time when filing a claim. You’d be surprised how much is covered with your renters' insurance. Be sure to ask your insurance agent all about it. 

At Arnold Insurance Agency, LLC, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We will go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (318) 965-5953 or Click Here to request a free quote. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!