Most people believe that their landlord’s insurance will cover them in the event of an accident or theft, but this is not always the case. Our renter’s insurance at Rickey McGill Insurance Agency in Arlington, TX, is designed to protect tenants from financial loss if their personal belongings are damaged or stolen. The following are scenarios in which your policy would provide coverage.

1. Damage Caused by a Neighbor

You are not responsible for damage caused by another tenant in your building, but their landlord’s insurance will not cover the repairs. If a fire starts in your neighbor’s apartment and spreads to yours, damaging your belongings, your renter’s insurance would step in to help pay for the repairs.

2. Water Damage

Landlords are responsible for maintaining the property and ensuring that it is up to code, but they are not responsible for damage caused by your negligence. For example, if you leave the water running and flood your apartment, your landlord’s insurance will not cover the repairs. However, your renter’s insurance would cover the damage to your personal belongings.

3. Theft

Your landlord’s insurance will not cover your belongings if stolen, but your renter’s insurance will cover the loss. It is important to remember that there is usually a deductible that you would have to pay before your policy kicks in. Hence, choosing a policy with a deductible that you are comfortable with is important.

Find The Right Tenants Insurance Policy to Protect Your Belongings

No one likes to think about the worst-case scenario, but it is always better to be prepared. If you are a renter, ensure you are protected by obtaining a renters insurance policy. At Rickey McGill Insurance Agency in Arlington, TX, we can help you find the right policy for your needs. Contact us today to get started.