Although the homeowner’s insurance provides coverage for the structural losses to the house, it does not include the tenants items stored inside the property. Therefore, having comprehensive renters’ insurance is extremely important to protect your personal belongings from any sort of damage.
Here are some of the benefits that you can have by investing in a renters’ insurance policy:
Protection From Theft: In case someone breaks into your home, the landlord will not be responsible for the damages. Renters’ insurance will help to recompense for the stolen items that have been listed in the policy and meet the coverage limits.
Protection From Natural Disasters: Damage caused to your rental home due to natural disasters such as hailstorm, tornado, flood, wildfire etc. will be covered in the renter’s policy. However, the property owner cannot be held liable to pay for repair or compensate for any loss.
Protection From Unnatural Fires: Homeowners insurance usually does not cover the damages caused due to the negligence of the tenants, such as electrical issues or short-circuit. In such cases, you will be responsible for the damage to the rental house as well as your own belongings. If you live in an apartment building and the fire spreads to your neighbor’s dwelling, you may also need to pay for their losses.
Protection From Guest Injuries: When a guest suffers an injury in your home due to your negligence, you may be held liable for their medical bills, alost wages and other monetary losses. These may include incidents like falling on a loose step, slipping on a wet tile floor or being bitten by your pet. Renter’s liability insurance provides coverage for all such expenses in case your guest sues you to claim compensation for his sufferings.
Protection From Self-Caused Damage: In most cases, landlords are not responsible for the unintentional losses incurred due to the tenant’s negligence. For instance, if you did not repair a broken window, which damaged the furniture during rain or ignored a leaky pipe which caused flooding in the house. Renters’ insurance will help to cover the costs of repairing or replacing the spoiled stuff listed in the policy.
We, at Shawn Camp Insurance Agency, Inc., provide affordable renters’ insurance in Killeen, TX. For more information, you can call us at (254) 526 – 0535 or visit our insurance agency at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542.
