Though Tennessee law doesn’t require renter’s insurance, it’s essential to understand why you would want to have it to protect you, your belongings, and your visitors. Though some landlords require it, renter’s insurance remains overlooked by many, who might assume their landlord’s insurance covers them. Anthony Lancaster Insurance Inc. can help Memphis, TN area renters navigate this important coverage.
A landlord’s property insurance will protect their house, apartment, or duplex. The renter’s insurance covers any personal property and other liabilities. To maximize your own protection, here’s why you might want to think twice before skipping it.
It Covers Personal Property Loss
Your personal property refers to items like clothing, furniture, electronics, luggage, and jewelry. Renter’s insurance protects against personal property losses from various perils, including fire, explosion, theft, and vandalism.
Personal property and belongings will also be protected if you are traveling. Even if the items are in your car or purse while you are away, the policy will apply to them.
It Covers Certain Liabilities
Standard renter’s insurance policies include liability coverage if someone gets injured in the home. The insurance will cover any court judgments and legal expenses to the policy’s limit. It will also cover medical costs for non-residents and guest injuries.
It Can Cover Additional Living Expenses
If one of the perils makes the residence uninhabitable, then the renter’s insurance can pay for temporary, additional living expenses, including food, laundry, and hotel parking. Policies vary about the amount and duration they will cover for this.
For a thorough review of what a renter’s insurance policy covers, talk to an experienced insurance professional about discounts, deductibles, and coverage limits.
We Are Here To Help!
Contact the experts at Anthony Lancaster Insurance Inc., servicing Memphis, TN for your renter’s insurance policy needs.