If You Rent, Do You Need Insurance?

Renters face the same risk as homeowners in cases of disasters striking their dwelling. Your landlord or condo association may have insurance, but this only protects the building, not your things in it. A renters’ insurance policy provides protection for your personal property, such as furniture or electronic equipment in case of fire, theft, smoke, vandalism, windstorms or other catastrophes.

Take inventory
To ensure you are compensated for any belongings you lose, you should inventory all of your personal belongings. Your inventory should list each item, its value and serial number. Photograph or videotape each room, including closets, open drawers, storage buildings and your garage. Keep receipts for major items in a fireproof place.

Liability protection is also standard with most renter’s and condo policies. This means if someone in your unit slips and falls, you’re covered for any costs, up to your liability limit. If this person sues you, you’re covered for what they win in a court judgment as well as your legal expenses, up to your policy’s limit.

For more information on Renters ‘Insurance call your local Stonebraker McQuary Insurance Agency.