The number of renters is on the rise as the number of homeowners is falling. While 95% of homeowners have home insurance, only 37% of renters have renters insurance. As a renter, you may believe your landlord has insurance that will protect you and your possessions. You would be wrong. He only has insurance to protect his building. Your possessions are not his concern. At Cary-Wheeler & Associates Inc. in Richmond, VA, we are an independent agency with more than 35 years of experience. We believe every customer has different insurance needs, and their policy should reflect that.
As a renter, most of what you own in the world may be located in your apartment or rental home. If suddenly it was all gone, how would you cope? Would you be able to replace everything with the money you have in savings? If not, then apartment insurance is worth considering. Apartment insurance includes several types of coverage, and all of them are beneficial.
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One of the primary reasons for getting renters insurance is to provide for the replacement of your possessions. This includes items you may have with you when you travel away from your home. You have a choice of actual value or replacement cost.
Loss of use
When a covered peril damages your rental, you may need a place to stay for a day or two or even a few months. If you have this type of coverage as part of your renters’ insurance, you will get money to help pay for a roof over your head.
Liability
If you think as a renter, you are safe from being sued, think again. If someone is injured while visiting you or by a member of your family, you could be facing a lawsuit. Liability coverage is a protection everyone can use.
Contact Cary-Wheeler & Associates Inc. in Richmond, VA to find out more about renters insurance.