Do Renters Need Home Insurance?

​If you are thinking about securing yourself with insurance as a renter, it may be overwhelming as there are many possible options. Though there are many, protection from risks is still its goal.

Home insurance is applicable; however, this is already applied and is only crafted specifically for the structure itself and not much for you and your assets as a tenant. Let's learn more about this here.

How Home Insurance Can Help Renters
Your basic home insurance is for the general protection and coverage of your home or building for damages such as:

• Fires, storms, or other disasters
• Earthquakes
• Theft

Your home insurance indeed is helpful, but as a renter, there are other terms and policies more catered to your standard of living and may be required directly before you start renting.

The Proper Insurance For Renters
Individuals need to secure renters insurance should their landlord or property management advisor requires it. This way, you have a proactive solution for damages and liabilities as a tenant. Sometimes known as tenant's insurance, this may ensure that you are protected as you occupy a leased house or apartment, whether for the short term or long term.

What Renters Insurance Offers
This renters insurance may comprehensively address your basic needs as a renter and protect you should there be a need for a covered loss. 

Here are some of the exclusive terms in a renters policy not found in basic home insurance:

1. Personal Liability
   As a renter, you must be protected from legal liability for accidents and injuries. With this clause in your renters' insurance, you are covered for the costs and damages if it happens. 
   
   
2. Loss of Use
   If the place you rent becomes inhabitable, your insurance can compensate for the living expenses you may require as you wait to renovate or repair your place.
   
   
3. Medical Protection
   If you are injured due to unexpected circumstances while in your rented place, it is possible that your insurance policy can assist in reasonable expenses in your bill, easing your burden.
   
   
4. Personal Property Damage
   Your personal belongings and contents are protected should they be damaged or stolen while in your rented space. With the conditions stated in your policy, damages can be covered.

Conclusion
Renters insurance is what you need for better leasing and renting experience. The terms exclusively found in your renters' insurance policy may be adjustable either way.  Having both insurances secured and working together is better than just having one. Home insurance for a protected property structure and renters insurance for your benefit. 

At Black and Associates Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (509) 464-0058. You can also request a free quote by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!