Plenty of landlords are making renters insurance a requirement these days. Before you think about trying to skip out on this important coverage, think again. Renters insurance covers much more than you realize.
When Someone You Know Sues You
We never want to think about someone we care about suing us, but it happens all the time. When your friend trips on a broken tile in the kitchen, slips in your bathroom, or gets a chunk bitten out of their arm by your dog, your renters insurance may cover you. It’s not just for lawsuits, either. The liability part of your renters insurance will pay your friends medical expenses and property damage, too.
When Your Car Gets Broken Into
It always happens the one time you forgot to lock your door or when you had to park in a different spot for the night. Your car is damaged and your laptop and other personal property is stolen. Renters insurance may cover the loss of your personal property, even though it wasn’t in your apartment.
When There’s a Fire
Check your lease. Your landlord might have added a clause that says fires from short-circuit damage - like when you plugged too many things into an outlet - are their responsibility. But it might also say it’s your responsibility. Either way, your renters insurance will pay to replace your property and, if necessary, damage to your house or apartment.
When You Accidentally Flood the House
Maybe you broke a window and it rained before you could it get fixed. Maybe you left the faucet running and forgot about it - until you saw water running down the hallway. Either way, you caused accidental damage to your home. It wasn’t intentional but it might be expensive. Renters insurance has you covered.
When You Can’t Stay in Your Home
A lot of things can happen at any point. A fire could destroy your house. A big storm could take the roof off. Either way, you might not be able to live in your rental for weeks. Renters insurance can include additional living expenses - like a hotel stay - until your home is livable again. The last thing you want to think about when you're dealing with a disaster is how you're going to afford a hotel stay.
Make sure you have a renters insurance policy that covers you when life happens. Contact us at Charlotte Insurance. We’ll go over your policy or get you a quote for a new (and better) one.