by Remy Lacanaria
Posted on 2019-06-26 12:52:55
What is renters insurance? It is an insurance, to protect your belongings in case of fire, theft, or damage that every renter/s should have. It is also called the HO4.
Do renters really need the renters insurance? Read along, and you will know, why it is important to have a renters insurance.
Renters insurance not only covers the protection from fire, theft or damage, but it can also help you to cover damages that is caused by negligence. Renters insurance covers the following:
1. PERSONAL PROPERTY
Renters insurance policy offers protection for your belongings in case there is a power surges, fire, water damage, theft, vandalism, and other events that is out of control.
2. LOSS OF USE
Your policy also covers your living expenses in case you must leave your home after an accident. Say a tree crashes through your roof and the place needs repairs before you can live there again—loss of use will cover a hotel, food, and any other expenses you incur during that time.
Your liability coverage pays for bodily injury and property damage caused by negligence, like if your dog gets loose and bites the neighbor's kid and he has to get stitches. If it is an expected o intended bodily injury, you will not be covered for negligence.
There are also other types of coverage, like, if your visitor suffers an injury in your home,your policy's medical payments to others will cover medical bills. If you want to know more about renters insurance, click here.