It’s always a great idea to purchase a renter’s insurance policy if you live in a rented home. The group of coverages provided in your policy will protect you and your possessions. Sharp Insurance & Financial Services renter’s insurance will come in handy in the event of injuries in your home or break-ins.
Personal property coverage
Replacing your personal belongings after a break-in or unexpected damages can be very costly. This policy is used to protect yourself financially in case of perils such as fires or theft. Be sure to know the maximum amount your personal property damage coverage will reimburse because the coverage may not protect every item in your household.
This is another typical component of a renter’s insurance policy. The coverage will protect you from making out-of-pocket payments in case you are found liable for causing injuries to other people or damaging their properties in Ashland, KY. For example, if a guest slips and falls in your home, the coverage will cover the medical bills resulting from the sustained injuries.
Additional living expenses
When you rent a house in Ashland, KY, you typically have a place you can comfortably call home until the expiration date of your lease. But, if your home is damaged by a disaster such as fire, you will have to live in a hotel and perhaps spend more on food than you would in your apartment. The additional living expenses coverage will help you cover for those additional costs. It is advisable to read the terms of your policy carefully to be sure about the maximum amount of money you can be compensated for with the additional living expenses.
You will likely be required to pay a deductible before your renter’s insurance policy kicks in. In most cases, the lower your renter’s premiums, the higher the deductible may be for every covered loss. Your premium and deductible can be adjusted by your insurance agent depending on your specific needs and budget.
Protect your personal belongings and yourself financially with renter’s insurance when living in a rented home. For more information on renter’s insurance and tips on how to choose an affordable package, contact us at Sharp Insurance & Financial Services today.