Your landlord likely has purchased an insurance policy to protect the building where you rent space. However, your personal property and personal liability against accidental damage caused by you are not included in the landlord’s policy. That is why it is imperative to secure a renters insurance for your business (in Fairfax, VA and throughout Virginia, Maryland, and DC).
Your renter’s policy does not stop when you leave your current home. So your personal belongings are covered when you go on a vacation or when you find and move to a new place to rent. It also protects your valuable possessions against theft, fire, or any unwanted and unexpected event in your life.
The comprehensive coverage of your renters insurance does not only protect you and your personal belongings alone. This means that you also get covered if you have caused an accidental or unintentional damage to a property of someone who happens to be living in the adjacent room at your building. And if in case someone gets injured while staying in your rented home, the cost for the hospitalization also gets compensated. In worse case scenarios where that someone files a lawsuit against you, such policy also provides certain coverage up to your medical and liability payment limits.
To know how much your renters insurance policy could cost as well as how much claims and cases it could compensate, consult a licensed professional from TriState Business Insurance.