If you have just moved into your first apartment, now is a great time to purchase renter’s insurance. If you have never looked into rental insurance before, it is important to understand what it covers before you start shopping for rental insurance. Rental insurance can be broken into three major categories – liability, personal belongings and additional living expenses.
The first area that rental insurance covers is liability. If anyone is hurt on your property and needs medical assistance, you are not on the line. Your rental liability insurance will cover anyone who is hurt on your property. If you are ever served with a lawsuit from someone claiming to be hurt on your property, your liability portion of your insurance will cover any lawsuit expenses.
The second area rental insurance covers is personal belongings. You can insure all the belonging inside of your apartment. If someone breaks in and steals anything inside of your apartment, your insurance will pay for the replacement cost of the items. If your apartment catches on fire, your insurance will pay to replace all the items inside of your house.
You may be surprised at how much everything you own is worth. Just sit down and start to make an itemized list of all of your belongings. You may be surprised to learn that most people have at least $20,000 worth of personal belonging inside of even a small apartment. That is a lot to replace unexpectedly. If you have insurance, you will not have to replace it on your own.
The third major component of rental insurance is additional living expenses. If something happens your apartment is damaged and unlivable, your insurance can help you out. They will pay for you to live in a hotel until your apartment is livable again.
The three main components of rental insurance are liability coverage, personal belonging coverage and living expenses coverage. Make sure that you cover yourself and purchase insurance. Coast Auto Insurance Services Inc. can help you find the best rate on renter’s insurance. They have been serving customers in California for the past 37 years. They can help you find the best rates and the best coverage possible.
