When you’re renting out a Sacramento property, it’s important that you do everything you can to ensure the investment is properly insured. Your own insurance policy can be relied upon to protect you from liability, catastrophes, and loss of rent. 

Your s need protection, too, and that’s why it’s a good idea to require renters insurance. 

Renters insurance is an affordable and easy way to bring resident’s protection and peace of mind. It’s important that residents buy their own insurance to cover their possessions as well as any risk that can come from accidents or disasters. 

Understanding Renters Insurance: A Definition

Renters insurance will usually include liability coverage, protection for a resident’s personal belongings, and sometimes coverage for additional living expenses in case the rental property becomes temporarily uninhabitable. 

Accidents can and will happen, and if there’s damage done to a renter’s possessions or someone gets hurt while they’re visiting, renters insurance can reduce a resident’s overall risk and cost. This type of coverage applies to all renters, whether they’re leasing a single-family home or a unit in an apartment building. 

Coverage Provided by Renters Insurance

The most important benefit to most residents who purchase renters insurance is the coverage provided for their personal property. If a pipe explodes and water damages furniture or a tree falls through a window and takes out some valuable electronics, the renters insurance policy will cover the cost to replace or repair those things. 

Many residents assume their landlords would cover those replacements, but a landlord’s insurance policy will not cover those items. Under a landlord policy, liability and the structure of the home is covered; a resident’s personal property is not. So, residents need a renter’s policy to make sure they don’t suffer a major loss if something happens at the home. 

The renters policy will also cover liability. If a resident accidentally leaves a stove on and burns down half the kitchen, the renters insurance will cover the repairs that are necessary. This will save the resident from a lot of out-of-pocket expenses, protect his or her security deposit, and provide some relief to the landlord. It also provides help with expenses if that fire requires a resident to move into a hotel for a few days while the damage is repaired. Everyone is afforded some extra peace of mind when a renters insurance policy is in place. 

Renters Insurance is Affordable