When you are a renter rather than a homeowner, you may think that you don’t need to have renters insurance. You may even think that your landlord will take care of you. They won’t. Their insurance covers their building, not your possessions. At Peninsula Underwriters Insurance Agency in Gainesville, FL, we strive to share our knowledge with all of our customers and to answer any questions they may have about renters insurance.
As renters, content coverage is probably the main thing you think about when you consider the benefits of renters insurance. But there are other types of coverage that are equally as important, specifically liability and loss of use coverage.
What coverage does renters insurance provide?
Content coverage
Content coverage protects your possessions at home and when you travel with them. You have options when it comes to the type of coverage you choose. Do you want to replace everything you have? The replacement coverage is what you need. If you don’t want to replace everything, then the actual value will work for you.
Liability coverage
Liability coverage is what protects you from the result of legal action taken against you. Someone can be injured at your rental at any time and if they decide to sue, it could end up with quite a large judgment. If you don’t have a lot of spare cash hanging around, this insurance can be a lifesaver.
Loss of use
Loss of use is exactly what it sounds like. Your rental gets damaged by a covered peril and, for a time, you have nowhere to live. Loss of use coverage will help pay for a place to lay your head and help with meals. This coverage is really important to your overall comfort.
Contact Peninsula Underwriters Insurance Agency in Gainesville, FL, with your renters insurance needs.
