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IF YOU HAVE RENTER’S INSURANCE, DOES IT COVER WHAT YOU THINK IT DOES?

Posted by Toby Ferrel on March 28, 2019
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AND IF YOU DON’T HAVE RENTER’S INSURANCE BECAUSE YOU THINK YOU DON’T NEED IT, PLEASE RECONSIDER.

 

If you don’t have a renter’s insurance policy, you may end up being personally liable not only for loss of your property, or damage to rental property, but also for any injuries that may occur to any person who visits your rental home.

 

Tenants often make the mistake of believing that the owner of the property they are renting has insurance, and that insurance will cover whatever happens during their tenancy.  That’s just not true.

 

First, even if the owner has insurance, that policy generally does not cover anything owned by a tenant regardless of what caused the loss.  In other words, even if you lose everything, you’re likely on your own.

 

Second, you may be personally liable if someone is hurt during a visit to your rental property.  Again, you may believe that it is the owner who will be liable – but that is not necessarily so.  Your renter’s insurance should also provide you with general liability coverage to protect you from a lawsuit by an injured person.

 

Renter’s insurance is relatively inexpensive and is a great way to protect you, your assets and the way of life you’ve built up.  If you don’t have renter’s insurance yet, please contact us at 239-455-1003; e-mail us at info@collierleerealestate.com.

 

Of if you’d like to contact an insurance agent today, please feel free to contact one of our friends:

Belinda Malolli at Allstate: 239-593-4433

Mike Ryba at Pro-Active Insurance: 239-514-1141

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