Renters Insurance in Lawrenceville, GA
If you’re renting your home, it’s important to understand that your landlord’s property insurance likely won’t cover your personal belongings or liability risks. As a tenant, you may want to purchase a renters insurance policy to help protect yourself and your possessions if a covered peril damages your unit.
How Does Renters Insurance Work?
Renters insurance may help protect tenants if their personal belongings are damaged or destroyed by events such as fire, theft, storms, or other covered perils. Depending on your policy, reimbursement may be based on either the replacement cost value or the actual cash value of the damaged items.
What Does Renters Insurance Cover
Renters insurance typically includes the following types of coverage:
- Personal property coverage may reimburse you for repairing or replacing your belongings if they are damaged or stolen due to a covered event, such as fire, theft, vandalism, hail, or certain types of storms.
- Personal liability coverage may help cover medical expenses or legal costs if someone is injured in your rental or if you accidentally cause damage to someone else’s property.
- Additional living expenses (ALE) may cover the costs of temporary housing, meals, and other necessities if you are forced to leave your rental due to a covered loss.
Consult with your insurer if they offer these coverages and additional riders.
How to Obtain Renters Insurance
If you’re in the market for renters insurance, Paramount Insurance & Multiservice, LLC is here to assist you. Contact us today to to explore your options or request a personalized quote.