Many renters can fail to purchase renters insurance because they may think their landlord’s insurance policy can cover the loss of their personal property. Unfortunately, most landlords may not have coverage that extends beyond the building itself. This may mean that if the building and all contents were destroyed, you could be responsible for replacing all your personal belongings. Renters insurance in Indianapolis can benefit you in many ways.
Renters insurance can assist with replacing items that may be stolen if someone breaks into your home or apartment. It may also cover replacement of items stolen or lost while vacationing.
Fire and Water Damage
Items damaged or destroyed in a fire may be replaced if you have renter’s insurance. This can include clothing, furniture, jewelry and any other items that were your personal property. Items destroyed or damaged by water because of busted pipes or leaks can also be replaced. However, some policies can have limitations that may exclude water damage caused by the resident.
If your home or apartment is destroyed or rendered uninhabitable due to a covered incident, it can be costly to relocate on short notice. Renters insurance in Indianapolis can help you with the cost associated with moving to a temporary location.
Damages and Injuries to Others
If you are responsible for damage to someone else’s property or injury to another person, renters insurance can cover your liability. It can also pay for any legal fees if you are sued for such injuries or damages.