Renters insurance (renters insurance) provides financial protection against loss or destruction of personal belongings when you inhabit a rented dwelling, whether a house or apartment. Although your home may feel embarrassed if you are the victim of a robbery or is affected by a fire, their personal belongings are not protected or covered by insurance owner’s home. And since the vast majority of cases do not give renters insurance coverage for the building or structure housing, but covers their own belongings, this is usually relatively inexpensive.
In general, renters insurance provides compensation for damage to the contents of the housing effects of fire, smoke, vandalism, theft, explosion, winds and storms (Hurricane) and water damage, except in the case of flooding, as in the homeowners insurance ( homeowners insurance ), it must be purchased separately.
As in the case of homeowners insurance, renters insurance also provides liability coverage to policyholders. This coverage includes legal defense costs or payments due for damages caused by you, other members of your family or your pets against third parties. And even if this damage occurs in another different from his rented residence, such as place while you are on vacation.
Renters insurance also provides funds for additional living expenses elsewhere while occupying the house at that time is being repaired due to an accident included in the coverage. Most policies reimburses the difference between regular living costs and additional costs they may incur for a limited time or maximum amount.
- Renter’s policies allow you to choose between two types of coverage:
- Replacement cost of the property: Pay the price to replace your damaged, lost or stolen with similar products without the use or deduct depreciation have been accumulated while in his possession, up to a maximum amount of your policy items.
- Actual value of the property: Pay the amount to replace their damaged property, lost or stolen, minus the amount corresponding to the depreciation.
Generally, insurance policies tenants have ceilings applicable to items such as jewelry, art collections, antiques, electronics, computers, etc. If you have these belongings and exceed the limits of your policy ask your agent to quote an annex the policy for those items. An annex or floater is a separate policy that provides additional valuable belongings safe and gives coverage against those who may suffer damage that are not included in the original policy, as would be accidental loss of these valuable objects.