Renters Insurance Protects More Than Just Your Possessions

If you are renting your home or apartment, you may think you don’t need insurance coverage. You might look around your apartment and think you don’t have much stuff or that nothing will ever happen to your building. The truth is, having insurance as a renter is important. Listed below are a few protections provided by a renters insurance policy (including some you may not usually think of).

Personal Property. The number one thing that comes to mind when most people think of renters insurance is their stuff. A renters insurance policy provides coverage for your belongings anywhere in the world. Additionally, extra coverage can be purchased to cover your things at the amount you’d pay to replace them instead of the value they have at the time of loss. 

Liability Coverage. This coverage protects you in case of a lawsuit. If someone is injured or you are held responsible for damages, renters insurance can assist in paying for legal expenses and damages.

Medical Payments to Others. If a guest gets injured in your apartment, renters insurance will help pay their medical expenses.

Loss of Use. If something were to happen to your apartment building and you couldn’t live there until repairs were made, what would you do? With a renters insurance policy, you are protected from some of the additional living expenses you incur as a result.

Optional Endorsements. Along with the standard coverages provided by an insurance policy, you can purchase additional coverage for certain items by endorsement. Some of the popular coverages are Identity Fraud Expense and Personal Property Replacement Cost.

While these coverages are subject to specific limits, they provide significant value no matter who you are. Imagine trying to pay for these things out of pocket! It is important to remember that your landlord’s insurance does not protect you or your belongings.

Join the 20,000+ renters who trust Acuity with their renters insurance. 

*subject to terms and conditions of the policy