Renters Insurance Information
If you rent your home, you can help cover yourself and your belongings with renters insurance. There’s no telling if or when a costly incident could occur, but with renters insurance, you can help ensure you are protected financially.
What Does Renters Insurance Cover?
Renters insurance typically includes the following three components:
1. Personal possessions coverage may help replace or repair possessions damaged due to a covered event, such as theft or fire.
2. Liability protection coverage may help cover lawsuits for bodily injury or property damage for which you or your family members are responsible. Your policy may also include no-fault medical coverage, which may help pay for medical bills if someone is injured on your property, regardless of who is at fault.
3. Additional living expenses coverage may help if you cannot live in your home temporarily due to a covered incident, such as a burst pipe.
Some examples of perils typically covered under renters insurance include:
How Renters Insurance Works
When you obtain a renters insurance policy, you will generally be required to pay a premium (e.g., monthly or annually) in exchange for coverage. When an incident occurs that you think your policy should cover, you can file a claim with your insurance provider, and they will decide if they will cover the costs of the claim per your policy.
How Renters Insurance Claims Work
The claims process varies based on many different factors. The following are the basic steps for filing a renters insurance property loss claim:
1. When something happens that you believe your policy should cover, you can file a claim with your insurance company.
2. In the claim, you will compile as many details about the incident as possible, including photos and videos, if applicable. Be ready to work with an insurance claims adjuster who may contact you for more information.
3. If the claim is approved, your insurance provider will reimburse you for the damage minus any applicable deductible.
Additionally, if a third party files a liability claim against your insurance, they can typically initiate the process and work with your insurer to receive payment.
How Much Renters Insurance Do I Need?
Renters insurance is not mandated by law; however, your landlord may require a minimum amount of coverage. You should also consider how much your possessions are worth, how much you can afford to pay out of pocket if an incident occurs and whether you need any specific coverages, such as flood insurance for renters.
Renters Insurance Quote in Dublin, OH
If you want to learn more about renters insurance, contact ProtectALL Insurance. Our agents are committed to helping you get the coverage you need.