Your Guide To Property Insurance

3 Things You Should Know About Your Renters Insurance Policy

If you are renting an apartment or a house, you might be wondering if you need to get renters insurance. Some landlords require it while others do not, so in some cases it is simply up to you. As a general rule, you should always carry renters insurance. Here are some reasons why.

1. You Need To Protect Your Personal Belongings

The main reason that most people think of when they consider renters insurance is coverage over their personal belongings. If something were to happen to your house -- like it was vandalized or there were a house fire -- you would be out all of the belongings and property that you lost. If you had a renters insurance policy, you could file a claim and receive restitution for all of those lost items.

Many people have thousands of dollars worth of belongings in their house. Consider your electronics, furniture, musical instruments, art, décor, and so forth. All of these things are not covered when you rent unless you have a renters insurance policy from a company like Willie Swims Ins Agency, Inc.

2. You Could Be Sued

Just because you are renting doesn't mean that you won't be sued. If something were to happen on your rented property, and it was your fault, like you didn't shovel the driveway on a snowy day and a mail delivery man slipped and broke his back, you could be held liable for that. A lawsuit like that could break you financially, which is why liability coverage is so important.

When you get renters insurance, it will usually include liability coverage in the case that you are sued. It will help to pay for damages that you are found responsible for up to a certain amount. You never know if or when you will be sued, which is why it is better to be prepared.

3. Moving Insurance

One thing that many people do not know is that your renters insurance can help to give you coverage during a move. Many policies offer insurance on your belongings while they are in transit. This means that if your moving truck is vandalized, wrecked, or if things are damage or broken in the process, you could access your renters insurance to get help replacing or repairing those items. Not all insurance policies offer this coverage, so make sure you check -- or opt for additional coverage if you need insurance while moving.

By understanding these things, you can see why it is so important to always carry renters insurance.