Renters insurance is a way of protecting the property that you are living in. Whether you are living in an apartment, condo, or single-family home, this type of insurance is available in order to protect your possessions. It is an easy form of insurance to get and is also one of the most affordable types of insurance in today’s market.
While the homeowner or association is going to pay for insurance on the home or building, the insurance will only provide coverage for things that happens to the building. This can include plumbing issues, drywall issues, fire damage, and other items. Break-ins or issues individual to your unit may not be covered.
The association’s insurance is not going to cover anything having to do with your particular unit or your property. If there is damage to your couch as a result of a drip from another unit, the insurance is not going to cover it. It may cover the carpet, but nothing that you actually own. This means that you will need to obtain coverage on your own and that comes in the form of renters insurance.
There are different levels of coverage with renters insurance. Much of it has to do with the value of items within your home. If you have a lot of expensive furniture and belongings, you will want a higher amount of coverage.
Renters insurance not only covers damage from storms and accidents, but also break-ins. If someone breaks into your apartment when you’re not home and steals your TV, renters insurance can help you to replace that TV by filing a claim.
Some homeowners and apartment buildings require tenants to obtain renters insurance, while others do not. Whether it is required of you or not, it is to your benefit to obtain the coverage. Call Glass Thompson Insurance today and let us begin shopping for affordable renters insurance on your behalf.