Why Renters Insurance is Necessary

Often a person renting property is not aware of his or her obligations as a renter when they reside in a rental property. Many believe that the home owner has sufficient insurance to cover the building and they have no liability. Your landlord’s home insurance policy does not cover losses to your personal property if there is a disaster or event in which:

  • The house or apartment was burnt down in a fire and you lost all your belongings;
  • All your belongings are lost in a burglary;
  • A house guest slipped and injured himself or herself while visiting you;
  • Your rental apartment or home sustained water damage.

If the tenant has no renters insurance, he or she would have to pay for damages from their own pockets. Affordable rental insurance policies are available that pay for such damages and provide coverage from such calamities and risks.

Before you purchase renters insurance you have to make an inventory of your personal belongings and keep them at a safe venue away from your leased property. List any valuables and other personal effects like: clothing, furniture, jewelry, sporting equipment or musical instruments, televisions and entertainment equipment, computer, iPods and other valuables.

Renters insurance will provide you a description of those natural disasters, accidents and other situations for which you can claim compensation for losses. These conditions which you are insured against are termed as “named peril”. Renters insurance can typically protect against the following “named perils” in the policy:

  • Fire
  • Lightning
  • Wind
  • Smoke
  • Theft
  • Malicious mischief or vandalism
  • Accidental water discharge

Depending on your policy a number of other perils can be included. The coverage of renters insurance also extends to covering medical expenses for anyone that is injured on your property and are not living with you.

Renters insurance offers a tenant peace of mind. In the first 6 months of 2011, insured losses incurred in the US due to such freak events as tornadoes, wildfires and thunderstorms was a staggering $17 billion. Many of those affected by such events are tenants. This type of coverage allows the tenant some compensation for losses in personal belongings caused by a number of named perils. Renters insurance is affordable. Why take the risk in losses to your property? Protect your belongings and personal liability to others by buying adequate renters insurance. Canton, MI residents can find affordable rates at local insurance firms.

Renters Insurance Canton, MI – If you are looking for attractive rates for renters insurance, Canton, MI residents should contact America One Michigan Insurance Group for details.

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