Renters Insurance

There are many benefits to obtaining renters insurance in Florida, whether your landlord or property manager requires it or not. It can offer tenants peace of mind that their belongings are financially covered if an unforeseen event damages them.

What Is Renters Insurance?

Renters insurance is a policy between you and an insurer that may cover liability situations and your personal possessions in your rented space. If an event such as a fire or theft damages the items in your home, you may be reimbursed for them based on the details of your chosen policy. Unlike homeowners insurance, a renters insurance policy does not typically include coverage for the structure itself, but rather the contents within the buildingonly your personal contents. Additionally, renters insurance can help pay for third-party losses you’re responsible for, such as a guest slipping within your unit.

What Does Renters Insurance Cover?

A renters insurance policy typically offers the following coverages:

• Personal property coverage—Items such as clothing, electronics, and furniture may be covered by renters insurance if they are damaged in a covered incident, up to policy limits. It’s a good idea to keep an inventory and document your possessions.

• Liability coverage—If a visitor to your home is injured or their property is damaged by you, your renters insurance policy may cover the resulting expenses, including potential legal fees.

• Additional living expenses coverage—If a covered event makes your home uninhabitable temporarily, your policy may cover arrangements such as temporary housing or meals.

Why Is This Coverage Important?

Unless your property management company or owner requires renters insurance, you may think it’s an unnecessary expense. While you might live in The the Sunshine State, Florida is no stranger to adverse weather or other unfortunate incidents. You may be required to obtain rRenters insurance, but it can be a small price to pay for the comfort of not having to repair or replace your belongings out-of-pocket if they are damaged or you lose them in a covered event.

Maranatha Tax & Insurance Agency can help you find your ideal renters insurance policy. Contact us today for a quote or to evaluate your current coverage.