Types of damage and loss usually covered by renter’s insurance

Some people do not understand the need for renter’s insurance. Although it seems like just another bill that you will never use, don’t overlook it too quickly. Renter’s insurance will protect your property from damage or loss if named perils occur. There are about 16 types of perils covered by renter’s insurance.

It is 50% more likely that a renter will have items stolen from their home than a homeowner. With a statistic like that, it would seem like every renter would protect himself. However, only one out of three apartment renters have insurance. When your possessions are stolen from your home, it can be costly to replace them. With renter’s insurance, if a theft occurs, your personal property will be covered.

Vandalism or malicious mischief is extremely common. Sometimes done by accident, it can be costly to replace items that have been damaged or lost due to vandalism.

Even when you think it will never happen to you, a fire or lightning damage can happen. As your home is being rebuilt, renter’s insurance can offer temporary housing. This is just as important as replacing any possessions that were lost or damage.

Smoke can be more damaging than fire in some cases when it comes to possessions. Replacing items can be a costly venture. Renter’s insurance offers added protection.

Weather during certain seasons can be damaging to your property as well. Windstorms, hail, or weight from ice, snow, or sleet can cause you to lose some of your property.

Depending on the area you live in other natural disasters, such as volcanic eruptions, explosions, or falling objects can affect your home as well. Renter’s insurance will protect your property from damage or loss if any of these perils occur.

Unfortunately people can cause damage to your property in your rental home as well. Riots or civil commotions have been known to cause losses as well. Your policy will protect against this type of peril. Even damages cause by aircraft or vehicles will be covered within the renter’s insurance policy.

Even accidents can happen in the home. Accidental discharge of water, freezing of the plumbing, heating, or other pipes, sudden or accidental tearing apart of heating, cooling, or fire-protective systems, or sudden or accidental damage from artificially generated electrical current can occur. If any of these types of perils occur, your renter’s insurance policy will protect your property.

Renter’s insurance will also provide liability protection. This covers injury to another person when they are on your property. If you need to pay for a legal defense in this case, your insurance policy will help cover expenses. It will also include coverage for medical payments of people who are injured on your property but do not live with you.

If you ever questioned whether renter’s insurance was necessary, you now have your answer. If any of these perils occurred in your home, this policy will offer protection for your property as well as your liability.