Renters often overlook or underestimate their need to protect their belongings and liability because they think they either have to own their home to obtain coverage or think their landlords insurance policy will cover them.
Both these assumptions are wrong. As a result, Renter's Insurance is the #1 lacked coverage that is available today.
Renters insurance offers basically the same coverage provided under a standard homeowner policy for your contents and liability protection. The property portion covers your belongings for the cost to replace or repair that has been damaged, destroyed, or stolen under a covered peril within the policy either located at your place of residency or when you are traveling.
Liability portion protects you in the event you are held liable if someone suffers an injury or damage to their property because of something you did or did not do and a lawsuit is filed against you.
Renter's policy can also provide additional living expenses in the event you are forced out of your residence due to a covered loss and need temporary living elsewhere.
Other coverage such as scheduled valuable items can also be added to cover higher valued items and possessions such as jewelry, fine arts, your golf clubs.
You can also obtain coverage for any additions or alterations you may make to the residency that the landlord is not entitled to cover under their policy.