Renters Insurance: Does It Have You Covered?

Every year thousands of homeowners and renters in the United States find themselves displaced due to natural disasters such as hurricanes, fires and floods.  In addition, more thousands are displaced by not-so-natural disasters caused within their own household or by a neighbor.  Some of these not-so-natural disasters stem from accidental cooking fires, careless drivers and extensive water damage caused by inadvertent running bathroom or kitchen water.

As far and few between as these incidents may seem, they are much more common than you may think!

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While you would need to consult your landlord and lease for specific details, generally speaking, your landlord’s insurance will cover repairs to the property, but not your belongings or the cost of living elsewhere if you have to leave during repairs. (Your landlord is only responsible to you if he was aware of unsafe conditions and didn’t fix them in a reasonable time frame.)

The good news is, that for roughly $300 a year, a basic renter’s insurance policy will cover about $50,000 in property damage!

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Intrigued? Read THIS article by Real Simple magazine for information on what other disasters are covered by Renters Insurance and the loopholes to watch out for.

Contact your auto insurance company for details on their Renter’s Insurance rates, or, receive quotes from several insurance companies all at once by visiting a site such as InsureMe.com.