Understanding Renters Insurance

If you are renting in Reno, NV, you may have heard about renters’ insurance. If you have questions about this common and affordable type of coverage, here are the answers from Hinman & Associates Insurance.

What is Renters Insurance?

Renters insurance is a policy that you can buy to cover the possessions that you keep in the home or apartment that you rent. Even if you don’t own a home, replacing all of your belongings if there is a fire or robbery in the place that you live can be very expensive. Just consider all the electronics, jewelry, and collectibles in which you’ve invested money, as well as your furniture, clothing, and other essentials. Do you have cash in hand to replace all of that if your rental unit had a fire? Renters insurance will help pay to replace your things if something terrible happens at your rental unit.

Isn’t My Landlord’s Policy Enough?

Of course, your landlord probably has a homeowner’s policy, especially if he has a mortgage. However, his policy for your rental unit only covers repairs to the structure itself. So, if a storm tears the roof off of the home, the landlord’s policy will pay to replace the roof and repair the damaged interior. However, his policy will not cover your things that are in the home. That’s why you need a renters insurance policy. If there is a storm, fire, or burglary, you will want to replace the items that are damaged or stolen, and a renters policy can help you do that.

If you have questions about renters insurance or you wish to purchase renters insurance in the Reno, NV area, you can contact Hinman & Associates Insurance. We will be glad to answer your questions and get you set up with a policy that will protect your possessions if something terrible happens at the home that you rent.