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Renters Insurance

Renters Insurance Protects Your Belongings

Even if you don’t own a home, you can still have insurance for your personal belongings. If you rent, then you can purchase renters insurance. This policy offers protection if you live in a rented home.

Homeowners insurance covers your home inside and out. But renters insurance only covers personal property. Your landlord or property owner provides insurance on the actual home or apartment. You’re only responsible for your things inside the property.

The policy provides money to replace personal belongings that are destroyed, damaged or stolen. The policy will also pay temporary living expenses if your dwelling needs repairs.

If your plan offers replacement value, then it pays what it costs to replace your items. If you choose actual cash value, then the policy pays what the items are worth. You will also have a deductible and a premium.

Renters insurance also provides liability insurance. This is beneficial because it protects you if someone who is injured on your property decides to sue. In addition to legal fees and damages, the coverage will also help pay medical expenses for guests injured in your home.

You might think your personal belongings don’t have much value. But if you lose everything, you’ll see how expensive it is to replace it all. This is why renter insurance is recommended. Losing your belongings is bad, and being unable to replace them makes it worse.