Renters Insurance: What Does It Cover and How Does it Work?

Renters insurance is designed for those who rent a house or apartment as their home. Renter insurance has three main coverage elements: personal property, liability and additional living expenses. It’s important to consider coverage to best protect your home from costs due to unforeseen losses or accidents. Our agents at Peachstate Insurance are here to help you determine the best coverage options for your home.  

What Does Renters Insurance Cover? 
There are three main areas of coverage that are associated with renters insurance. These different types of coverage include:  

• Personal property can help cover the costs of repairing or replacing your belongings. Belongings may include clothing, furniture and electronics up to your policy’s limit.
• Liability can help cover repairs if you accidentally damage someone’s property or can help cover someone’s medical bills if you’re held responsible for their injuries.
• Additional living expenses can help cover costs such as hotel bills if you cannot live in your rental property due to incurred damages.  

Renters insurance will not cover all losses and damages, so be sure to speak with an agent before getting started with coverage.  

How Does Renters Insurance Work?  
If an incident occurs with your property, you must file a claim to receive coverage. Before filing a claim, it’s helpful to know some common tips that may ease your filing process, such as: 

• Contact your insurance agent as soon as possible to report a claim.
• Protect your items from further damage by talking to your agent about any emergency repairs that may be needed.
• Answer any questions about the damage and ask any questions you may have about the process.
• Discuss your policy’s coverage and limits with your agent to understand what applies to your situation.
• Document damaged items in writing and take photos or videos of the damage before repair work begins. 

Get Started With Coverage Today 
At Peachstate Insurance, we know the stressors that come with owning or renting a home, which is why we are here to help you find the best coverage options for your home needs. Contact an agent for further information or get started with renters insurance coverage.  

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Don’t hesitate to contact your insurance professional for further information.