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Renters Insurance Policy Protects More than Your Personal Property While You Rent - VA, MD, DC

- Monday, March 02, 2015

Many, if not all, people can have the false impression that their landlord’s insurance is providing them with full protection from personal property and liability in the case of a loss due to fire, injury, robbery, and other events. In fact, a lot of renters find out about this often too late that they are left caught off-guard by such situation. So before anything unfortunate happens in the space you are currently renting, it is imperative that you have a renters insurance in place.

You should consult a licensed insurance professional to ensure that you have an insurance policy that has a comprehensive coverage. Renters insurance policy in VA, MD, DC protects the contents of your home as well as the people who enter it. Purchasing this insurance reduces your risk of financial losses as you are being protected for liability due to injury and personal property damage.

Whether you like it or not, you need to have a renters insurance to compensate for the belongings that have been stolen or damaged including the visitors who got injured while staying inside your unit. Most landlord nowadays ask this as one of your requirements in renting a space. They only want to pay for a policy that covers their insurable interest which pertains to just the structure itself. So anything within the four walls of your unit is considered your financial responsibility.

If you plan to rent a space, then make sure you include a budget for your renters insurance. Let a licensed insurance professional tailor-fit a policy based on your specific requirements so you can maximize the value of your money. For more details, contact TriState Business Insurance.