Are you a renter? Maybe your kids are renting an apartment?

Do you or your kids have renters insurance?

What does renters insurance cover?

If your personal belongings get damaged, destroyed or stolen while you are renting, a renters insurance policy will cover your loss as it pertains to your personal belongings. Renters coverage also can cover liability for injuries to others or damage to their property that may occur in your rental.

What type of personal belongings does rental insurance cover?

A renters insurance policy usually has a personal property coverage to replace your belongings, such as your clothing, furniture, electronics and other personal items. If you experience a fire, water damage, theft or vandalism, a renters insurance policy will be your best alternative for a renters insurance loss.

Renters insurance also can assist you with loss of use/additional living expenses. If your current dwelling is unhabitable, having a renters insurance policy can be put to good use. A policy can help cover the costs of temporary housing and other living expenses you may incur while not being able to reside in your own home.

What if a friend, or loved one is injured while in your rental? A rental insurance policy includes liability coverage. This coverage can help cover medical expenses, legal fees and other costs that may be associated with a liability claim.

While a rental insurance policy covers several areas, there are a few it does not cover. Damage to your personal belongings from a flood or earthquake and damage from pests and mold are typically not covered in a standard rental insurance policy. Damage to the structure of the building is also not included. In this scenario, the landlord would be held responsible. Damage caused by your own negligence is also not covered in a rental insurance policy.

A renters insurance policy is a serious consideration for people who are renting an apartment or condominium. Parents of young adults going to college should also consider getting a rental insurance policy if their student is living off campus and renting an apartment, house or condominium.

How much does a rental insurance policy typically cost?

The average cost of a rental insurance policy is $23.00 per month. Prices can vary based on factors including coverage limits, location, deductibles and discounts. Renters insurance is not required by law but it certainly comes in handy should you have a loss during your time renting.

For more information on renters insurance and what it covers, please call our Altamonte Springs insurance office at 407-644-9991. We would be happy to meet with you and discuss how much renters insurance you need.