BIBERA INSURANCE

Renters Insurance

Moving into a new rental space is exciting, but you should take time to think about renters insurance to protect your belongings. Some landlords require this coverage. The main reason to have the coverage is so that you’ll be in a better position to replace possessions if they’re ever damaged or come up missing.

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Replacement Coverage

Renters insurance protects you in four main ways: it pays for personal property damage, personal liability, additional living costs, and medical bills. If a fire burns down your apartment, your coverage may pay for temporary lodging at a hotel as well as for the replacement of damaged items. The personal liability coverage helps you if you cause damage to your landlord’s property. The medical coverage pays for individuals who are injured in your rental space.

Liability Limits

Even though each insurance agency crafts its own policies, most renters insurance policies are designed to cover $30,000 in personal property damage with liability coverage up to $100,000. Whatever your policy limits are set for, they can be adjusted to fit your needs.

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