Renting a Home? Why You Need Renter’s Insurance

Homeowners aren’t the only ones who need insurance protection. As a renter, you can benefit from renter’s insurance to protect your personal goods. Your landlord’s insurance is designed to protect his structure, not your personal possessions. With renter’s insurance from High Favor Insurance in Birmingham, MI, you can protect your personal property against theft or unforeseen disasters. Here’s what a renter’s insurance policy can do for you.

Covers Damage or Loss of Personal Goods

If your personal goods are stolen or damaged in a major disaster, your renter’s coverage would help pay to have them repaired or replaced, according to the type of coverage you have and the limits on your policy. You can’t predict when disasters will happen but you can be prepared with insurance protection.

Renter’s insurance covers all manner of goods, from furniture and electronics to clothing, jewelry, artwork, appliances and more. If you own expensive goods, consider replacement cost coverage as it covers the cost of replacing your goods if they’re stolen or totally destroyed in a covered peril.  

Renter’s insurance protects your goods at home, in your car or even when you travel. If your luggage is stolen while traveling abroad, you can make a claim under your renter’s policy.

Provides Liability Protection

Renter’s insurance comes with liability coverage to protect you against lawsuits if someone were to have an accident on your property. If a friend slips and falls down your stairs and you’re found at fault, you could be held liable for injuries he sustains in the accident. Liability coverage pays for medical costs of accidental injuries so you don’t have to cover these expenses out-of-pocket. It also covers legal fees if you’re sued for damages.

To learn more about renter’s insurance options and costs, contact High Favor Insurance located in Birmingham, MI.