Answering Your Renters Insurance Questions

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Answering Your Renters Insurance Questions
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• You may not own your own home, but that doesnt
  mean that you dont own all the valuable items
  inside it, which is when renters insurance comes
  into play. With coverage that varies from
  replacing personal property if it gets broken or
  stolen, to protecting you from identity theft,
  this insurance can be hugely beneficial for
  tenants of rented properties.
• What are the coverage limits for renters
  insurance?
• Each policy will have its limits, or the maximum
  amount that the policy will pay you should you
  have any personal property or liability losses.
  Knowing the basic coverages will enable you to
  make a better decision about which type of
  coverage would work best for you

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• Personal property coverage
• Despite what you may think when you first cast
  your eyes over your personal belongings, they
  probably have a greater value than you might
  imagine. If your personal property becomes
  damaged by such events as a fire or a flood/leak
  (such as from plumbing or a cooling system), gets
  stolen or is broken by power surges (as may
  happen to electronics and appliances), then your
  personal property coverage ensures that youll be
  able to return any damaged items to normal, or
  replace them.

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• Liability coverage
• If a guest in your home (irrespective of who they
  are) has an accident while staying with you and
  requires medical intervention, then you may be
  found responsible for that accident and therefor
  for their medical expenses. Depending on the
  nature and severity of the injuries sustained,
  the medical bill could be a significant one, and
  this type of policy helps to provide you with
  financial protection against covered claims and
  lawsuits that may be brought about by the injured
  party. Just as is the case should the personal
  property of a guest become damaged or broken by
  your personal activities, your children or your
  pets while they are in your home. Some of the
  costs covered by this policy include acts of the
  insureds pets, claim and defence expenses,
  liability to others and negligent acts of the
  insureds children.

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• Loss of use coverage
• If your rental property becomes damaged by such
  events as a fire or a flood and you can no longer
  reside there, then most renters insurance
  policies will reimburse you for hotel stays and
  other associated costs.
• Optional coverages
• Having a renters policy that fits around your
  specific needs and lifestyle is essential, and
  most have options for add-ons that can protect
  pets, home businesses and expensive collectible
  items, for example.

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• What about roommates?
• Unrelated people living in your rental property,
  such as roommates, can complicate the coverage,
  and theyre personal items are not usually
  automatically covered unless theyre specifically
  listed on the policy. That said, each state has
  their own rules when it comes to these cases, so
  it would make sense to check such matters
  directly with your insurer.
• Insurance coverage is easy when you know what to
  look out for and are clear on what level of
  coverage you want. However, renters insurance
  can be just as confusing as any other type of
  coverage, so be sure to talk things over with
  your provider before you sign up for anything.

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• We Insure Miami was founded on the principle that
  every individual and business, big and small, has
  assets and valuables that need to be protected
  and insured against forces outside of our
  control. We offer Homeowners, Auto and small
  business insurance in miami. Our agents
  understand that you work hard every day to
  protect your car, home, business and family. WE
  are passionate about Insurance and passionate
  about serving you. If you are looking for
  homeowners or business or car insurance in miami,
  contact us for a quote or a complimentary review
  of your insurance policies.