Do You Need Renter’s Insurance?

Condo, apartment, house – renter’s insurance is there to protect your belongings.

When you rent a property, you, not your landlord, are responsible for your personal belongings if they’re stolen or damaged. Renters insurance can provide financial aid if your personal property is damaged in a named peril such as fire or theft, as well as providing liability insurance if someone is injured when visiting your home.

If you’re not convinced that you need renter’s insurance, here is a breakdown of renters’ insurance basics!

Coverage
Most insurance policies cover personal belongings, such as furniture, clothing, jewelry, electronics, and appliances, but only up to your policy limits. Be sure update your inventory list of all of the personal possessions along with their estimated value. Your policy should note what losses it covers, such as theft, fire, smoke, explosions and water damage from leaky pipes.

Additional Coverage
Standard policies may limit coverage for such valuable items as jewelry, furs, coin collections, musical instruments, and expensive sporting equipment.

Liability Protection
Renters insurance typically provides liability protection that pays for both the cost of defending you in court and court awards. Note that it will only financially aid you up to the limit that is set on your insurance policy. Therefore, make sure that your limit is not too low before purchasing the policy.

Additional Members
Spouses and immediate family members of the same household will automatically be included in the policy. However, a roommate has to be specifically named in the policy to be covered.

Save Costs!
Who doesn’t want to save money on renters’ insurance? You should consider insuring your car with the same carrier as this often leads to eligibility for a multi-policy discount.

Be sure to contact All Nevada Insurance for a renter’s insurance policy that best suits you and your apartment in Las Vegas, Nevada.