Orlando | Sarasota | West Palm Beach
If you rent a home or apartment a landlord’s policy covers the building, but it doesn’t cover what’s inside. That’s why it’s highly recommended you have renters insurance (sometimes referred to as tenant insurance) to protect your space and your belongings in the event of an accident.
What is Renters Insurance?
Renters insurance is designed for people who rent, whether it’s a house, apartment or dorm. It can protect renters and their belongings in events like a break-in, burglary, fire, severe storm and more. While it isn’t legally required, some landlords may require their renters to have it. A typical renters insurance policy includes liability coverage in the event the home becomes unlivable.
Talk to a specialist today for a customized quote
Leave your information and we will call you back.
What is Covered with Renters Insurance?
- Your personal belongings: Clothing, furniture, electronics, tools, and appliances whether they’re in your home or with you when you travel, they’re covered.
- Personal Liability: If someone is hurt in your home, your renters insurance coverage could help cover their medical bills and legal fees if a lawsuit follows. Your renters insurance policy may also help cover you for accidental damages you cause to someone else’s property.
- Loss of Use: If your home is damaged, by fire for example, and you’re unable to live in it while repairs are being made, renters insurance will provide additional living expenses for you and/or your family to stay in a hotel for the time being.
- Credit cards: If your home is broken into and someone steals your credit cards, debit cards, or checks then makes unauthorized purchases, your renters insurance policy may pay up to your selected policy limit.
If you move into another apartment or home, your insurance coverage will transfer with you. Let your insurance agent know about your move as soon as possible. You will typically be covered in your new home for up to 30 days.
What Doesn’t Renters Insurance Cover?
Renters insurance may not cover:
- Your vehicles, including boats and aircraft
- Water damage whether caused by flooding or underground water
- Damage caused by earthquakes and landslides
- Any business and professional services you may provide from home
- Animals in your home. You can add pet insurance for any injuries they suffer.
What is the Average Cost of Renters Insurance?
The average cost of renters insurance is quite affordable. However, it varies and it depends on the coverage and deductible you select. To get a good idea of how much coverage you need, you should add up the cost of your belongings. These are other factors that can affect your price:
- Location: An area with fewer crimes reported typically means a lower cost
- Your space: People renting an apartment typically have lower rates than those who rent a condo or home because theft is less common.
- The number of units in your complex: More units in your building or complex often means a lower price.
How Do I Get Renters Insurance?
If you’re interested in finding the best rate for adding renters insurance to your policy, contact Signature Insurance Group today for a free customized quote! Our agents are standing by and ready to discuss your insurance needs.Back to Homeowners Insurance
Renters Insurance in Longwood FL, Melbourne FL and Venice FL
Serving the Entire State of Florida