When you are moving into your new place, it is common not to be thinking about insurance. You are all caught up in the overwhelming job of getting it all inside, and trying to find new homes for all your stuff. But all that stuff you own and love needs to be protected.

You may be thinking that the owner of the property has insurance so you are fine. And I am sure your landlord is carrying insurance. But that most likely covers the building only. You stuff, and any accidents that may happen in your place won’t fall under that plan, so it is time to start checking into renters insurance coverage.

The Basics of Renters Insurance Coverage

There are a lot of plans out there. Each will have some differences, but there are some pretty basic things that all plans tend to cover. Some of the first things to come to mind are fire, smoke damage, busted plumbing, burglary, vandalism, and tree limbs falling from storm or snow. Some maybe less common things, also generally covered are damage caused by a vehicle or aircraft, an explosion, riot or civil disturbance, lightening, and volcanic eruption. This list is not universal, so remember to ask your agent about what all your renters insurance coverage entails.

Renters Insurance Coverage and Where You Live

There are certain place around the world, where certain weather patterns, and natural disasters are more common than others. Personally, I live in the south-east United States, we are quite familiar with hurricanes. And they have the potential to do a lot of damage to not only the structure of a building, but to the things inside. Most insurance plans don’t cover damage brought on by a natural disaster like that. When you are looking into your insurance coverage, be sure to ask about it. Often getting coverage for hurricanes, tornadoes, earthquakes; is a separate policy you have to add on to the basic plan.

Renters Insurance Coverage and How You Live

Like car insurance, many home and renters insurances give incentives for extra safety measures. Sometimes the simple one time purchase of a fire extinguisher or an extra smoke alarm can bring down your insurance rates. It is possible, since you are renting, that the landlord would help with the cost of these things as it would likely help their insurance rates as well.

Remember also that most insurances cover injuries to guests in your home. If they trip down a flight of stairs or something equally unlucky. It may be possible you have a dog. Dogs can be great protectors, but consider what type of dog you have. Some insurance companies won’t help you if you own a breed of dog known to be aggressive. Make sure you find out what your renters insurance coverage says.

All in all there are a lot of things to consider when looking into renters insurance. Ask your agent questions. That is why they are there. They can talk you through what is best for you and your situation. And if you know anyone else who is renting, it is always good to talk to someone who has been through it. They can probably help steer you towards a good company, or are at least be able to steer you away from a bad one.

What you don’t want to happen is to neglect the issue. Once that storm hits, or your best friends significant other trips down the stairs, it will be too late. Take the time now to do a little research, and save yourself the nightmare that is to come. You will sleep easier.

Tagged with: • • • •

Filed under: Renters Insurance Coverage • Renters Insurance Policy • Renters Insurance Rates

Like this post? Subscribe to my RSS feed and get loads more!