Too many Arlington, TX renters rely on their landlord’s insurance to cover any losses faced due to fire, water damage, theft, and more. Unfortunately, as a landlord’s policy is geared toward protecting themselves against loss, many renters find themselves in trouble when tragedy does strike.

Here at Rickey McGill Insurance Agency, we want to be sure that you are taken care of, too. So, we designed this quick guide to help you understand the basic renter’s insurance options you have available to you.

Liability

Renters’ liability insurance is similar to auto liability coverage. If someone is injured on your property and you are responsible for it, or if someone else’s property is damaged and you are at fault, renters liability insurance may help cover the expenses up to your policy coverage limit.

Personal Property

Personal property coverage may help cover expenses of repairing or replacing personal objects if the damage or loss is due to a covered event. Personal property includes your possessions such as clothing, furniture, electronics, jewelry, and so on.

Your coverage is based on the value of that property and what you are covering. As we continuously purchase new things and the value of our possessions can increase or decrease, it is important to update your policy regularly. Otherwise, the amount of coverage you have may not be enough to help cover expenses you incur due to loss or damage.

Loss of Use

Should your residence be uninhabitable for some reason, such as a fire, loss of use coverage can help cover transportation to another location, hotel bills, and more. While your landlord likely has property insurance, there is no guarantee that his or her coverage will take care of living expenses for you should you have to stay elsewhere.

It is best to have your own protection in place so that you are not left out in the cold if the worst happens. You can later consider asking your landlord for help or even filing a lawsuit, but you must first be sure you have somewhere to stay in the meantime.

Renters insurance is a critical step in protecting yourself in the face of tragedy. Let Rickey McGill Insurance Agency of Arlington, TX help you get the protection you need.