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Renters Insurance - Whats Covered?

The question on many renters minds these days is renters insurance whats covered? Almost all insurance companies that insure homes insure renters as well. But there is still quite a bit of confusion among consumers as to renters insurance whats covered.

Basically, all of your personal belongings are covered. Most insurance agents will ask you for a list of your belongings, along with the estimated value of each item. Now, when you make this list, you do not need to list each item separately. Some items can be listed as one item, such as clothing – unless you have thousand dollar business suits, in which case your agent might want you to list each separately. But in most cases, you would write ‘clothing’ on your list, with an estimate of how much you spent on the clothing that you have.

Many landlords now require renters to carry renters insurance. This protects the landlord in the event that you do any damage to the rented property. For example, if you get mad and put a hole in the wall, or if your dog scratches up the door, your renters insurance policy will cover the cost of the damages, and the landlord won’t have to worry about taking you to court to collect that money.

In the event that your rented home is left uninhabitable due to a variety of events, your policy should pay for the expense of temporarily staying in a hotel while repairs are made. Different policies have different types of benefits. It is important to speak with an insurance agent to find out what is available, and what type of coverage you need for your belongings.

Renters insurance is available in different amounts of coverage. It is important that you purchase the insurance coverage in amounts that suit your needs and cover all of your belongings. It is also important to note that most renters insurance policies do not cover floods or earthquakes. If this is a potential problem in your area, you can purchase separate policies to protect you in the event of these two disasters.

Again, speak with your insurance agent to find out more about renters insurance whats covered in your specific area, and for your specific situation.