Renters insurance is a policy that is used to protect a renter’s liability, as well as their belongings inside a rented home or apartment in Georgia or South Carolina. Since renters don’t need to take full responsibility for the damage to the outside structure of the building, they need a policy that is slightly different than homeowner’s insurance. Many renters believe they are not responsible at all when renting and opt not to pick up renters insurance. It’s important to know that a landlord’s insurance is designed to protect the landlord – not the renter.
Renters insurance is broken into two parts. One part protects you and the second part protects the things you own. If someone sues you because they were injured on the rented property, having insurance for yourself can be helpful since lawsuits are expensive. An additional benefit to having renters insurance is that it helps to provide you with additional living expenses should you need to be out of your rented home while it is being repaired. This portion is usually based on a percentage of the property value. Just like homeowners insurance, renters insurance won’t cover certain disasters. Earthquakes and floods aren’t covered under homeowners insurance and usually aren’t covered under renters insurance. In Georgia and South Carolina, flooding can be an issue, so it’s a good practice to consider the options. Our agents can assist you with identifying the coverage that you need.
A renters insurance policy will typically last 12 months to match the length of an average lease. Since renters insurance protects belongings, it’s vital that coverage match the number of belongings that you own. Conducting an inventory similar to one that would be completed for homeowners insurance can be helpful in determining how much coverage is needed.
Contact Covenant Insurance today and let us provide a quote for your renters insurance.
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