PBA Tip of the Day brought to you by Justin Simons, Agent with State Farm Justin R Simons Agency, Inc (623) 551-3700.
Purchasing renters insurance is a smart move. While a Rental Dwelling Policy covers the building itself for the property owner, a Renters Insurance Policy covers the personal belongings of the tenant and also provides liability coverage for certain types of bodily injury or property damage. Purchasing renters insurance with coverage for personal property is a smart move. But, most tenants won’t purchase it unless a landlord requires it.
Renters insurance protects the renter. In many cases, the insurance a landlord carries covers only the building. Personal property loss or damage, caused by theft, vandalism, or fire are typically not covered by the landlord’s policy. Without renters insurance, the tenant may have to bear the financial burden of a loss to their personal property.
A renters policy might:
Compensate you if your belongings, like a bike, a laptop, or a television, are lost, stolen, or damaged.
Protect against liability claims from a guest injured while in or near your rental.
Cover your personal property, like your cell phone, clothes in a storage unit, or laptop left in your car, regardless of where it’s located. For more information, contact Justin today!
The information in this article was obtained from various sources not associated with State Farm®. While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. These suggestions are not a complete list of every loss control measure. The information is not intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. Nor is it intended to effect coverage under our policy. State Farm makes no guarantees of results from use of this information.