Am I Covered By My Landlord’s Homeowner’s Insurance?

homeowners insuranceIf you’re renting your home, you’ve probably heard about renter’s insurance. Yet, many of those who rent choose to forgo purchasing this important insurance. Usually the error is due to misconceptions about homeowners insurance or the false belief that you don’t need insurance.

In order to keep his premiums as low as possible, it’s likely your land you’d be looking for a new place to live on top of owning nothing but the clothes on your back.

Another concern is injuries on your property. When you own your home, your homeowner’s insurance covers your liability for injuries that occur within your home or on your land so on, you could be sued for damages. Without renter’s insurance to pay for your liability, you might end up with a hefty judgment that you are required to pay.

Renters insurance is a good place to start if you want to protect yourself. However, go over your renter’s insurance policy carefully to be sure it covers everything you had in mind. In some instances you need to add extra coverage for liability, antiques, valuable jewelry, and so on. Talk to your licensed insurance broker about your policy to be certain it is adequate to meet your needs.

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