Insurance to protect your property isn’t just for homeowners. If you are living in a rental you can purchase renters insurance to protect your belongings if they are damaged in a covered loss. Many people in rental properties may not be aware that the property owner’s insurance doesn’t cover their personal property if it is damaged in a fire or other covered loss. That is why it is important to contact an insurance agent and ask about buying renters insurance.
Renters insurance is typically much less expensive than homeowners insurance but check with an insurance agent to meet your specific needs. If you choose to buy renters insurance, it is important to keep a list or inventory of your personal belongings. Your insurance agent can explain what is covered under the terms of your policy and assist you with the inventory process.
Typically, property like furniture, clothing, firearms, and jewelry can all be covered. Many landlords will require renters to purchase fire legal liability coverage, which is included in renter’s policies. Fire Legal Liability Coverage is coverage of a tenant’s liability for damage by fire to the rented premises (including garages) the tenant occupies.