A renters insurance policy is designed to protect the personal property of a tenant. While most property owners will have a homeowners policy or commercial insurance for the actual building, that policy does not cover personal items belonging to tenants.
What’s covered under renters insurance
While the exact coverage can be different depending on the carrier you choose, most policies provide several standard features. As a renter, your belongings would be covered up to your limit if the items were destroyed by a covered event. Fire, storm damage and theft are the common events.
Coverage normally includes personal liability protection. This protects you from a lawsuit if a guest is injured in your residence. Medical payments for injuries to guests are included up to your chosen limit. If you, or a family member, damage someone else’s property, it is also covered under your liability protection.
Most policies will provide you with coverage for additional living expenses (ALE) if your current residence is destroyed and unlivable. ALE pays the difference between your regular expenses and those you incur for temporary shelter.
Purchasing renters insurance in Murrieta and the Southern California area is well worth the low cost, likely less than you pay for two movie tickets a month. Contact Stromsoe Insurance Agency and let a professional explain all of the benefits of renters insurance to you.