Reasons why you can’t afford to skip out on renters insurance.
If you are renting a home or an apartment, then you might think that you can get away with not having insurance. However, this isn’t the case. While it’s true that your landlord is responsible for insuring the physical structure of your rental property, that’s where their obligation ends. They have no responsibility to protect your personal belongings or personal liability. This is where renters insurance in Lancaster, California, comes into play. Still not convinced that you need renters coverage? Then consider this.
- You May Have No Choice
In many cases, landlords will require tenants to show proof of renters insurance before agreeing to rent to them. This is because property owners want to avoid any confusion regarding who is responsible for covering what. For instance, many landlords will require renters insurance to ensure that they cannot be held liable for any property damage or liability issues that their tenants run into.
- It Protects Your Belongings
Renters insurance is designed to provide coverage for your personal belongings. If your possessions are damaged or lost in a covered peril, then your renters insurance will cover the cost of repairing or replacing the affected items. This coverage applies to a wide variety of belongings, including furniture, clothing, electronics, and so on. Please note that your renters insurance may place coverage limits on high-value items, such as jewelry, fine art, antiques, and so on. To secure protection for these items, you may have to secure supplemental coverage with a renters insurance endorsement.
- It Provides Liability Coverage
Standard renters insurance policies offer personal liability coverage. This coverage offers protection if someone is injured on your rental property, if you or a member of your household accidentally cause third-party injuries or property damage, or if a pet causes third-party injuries or damage. Not only does this insurance cover the cost of the affected party’s medical treatment and/or property repairs, but it also covers your legal fees. Because the expenses associated with personal liability claims can easily exceed tens of thousands of dollars, having renters insurance ensures that you don’t fall into financial ruin.
These are some of the reasons why you need renters insurance in Lancaster, California. Do you have additional questions about your renters coverage? If so, then contact the experts at John E. Peakes Insurance Agency for the assistance that you need today.