Renting your home comes with a lot of perks. You can let someone else worry about property insurance and taxes, as well as many major maintenance jobs. However, there are some risks involved with renting. At InsPeak we are all about educating our clients and future clients in Arlington, TX on their insurance needs. Let’s look at 3 common risks for renters.
If you are a victim of a burglary in your rented home or apartment, you will be responsible to pay for any property of yours that is lost or damaged. The property insurance held by your landlord will not cover your personal belongings.
During a fire, the renter’s personal property will not be replaced or reimbursed by the landlord. The only thing covered under the landlord’s property insurance will be the property that they own.
During a natural disaster such as a tornado, earthquake, or hurricane, any of your personal belongings damaged or lost will not be covered by the landlord’s insurance.
What Can Renter’s Do?
If you rent your home, you should consider renter’s insurance. This type of insurance policy will protect your personal belongings in the event there is a burglary, fire, or natural disaster.
You can talk with an insurance representative to learn about how much renter insurance you will need. This amount is often based on the value of your personal belongings. The representative will be able to help you assess the value of your possessions in order to create the appropriate policy for you.
If you would like to learn more about our services, or if you are interested in renter’s insurance products, please contact us at InsPeak serving Arlington, TX and the surrounding areas.