Renters Insurance Information
​You have many things that are very important to you, starting from your clothes and furniture and ending to your sound system, sports gear, and computer. Of course, you want to make sure that everything you’ve worked for and owned is not at risk.
What Does Renters Insurance Cover?
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Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing subject to the limits and deductibles you select.
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However, renters insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.
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Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.
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Renters insurance also protects you and your family members against bodily injury and property damage liability claims and any litigation that may result subject to the limits you select.
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​In addition, you can select medical payments coverage which will pay for medical expenses incurred by a visitor who is injured at your residence regardless of fault.
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For a small additional premium, you can choose to carry full value coverage on your personal property, which ensures that you will be paid the full replacement cost of items that are damaged or stolen without deduction for depreciation.
Decide How Much Insurance You Need
Calculate the cost of your belongings that you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory if you ever needed to file a claim. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away from your home.
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