RENTERS COVERAGE FAQS

QUESTIONS THAT CONCERN YOU:

Is my coverage adequate?

• Is it the right coverage?
• What does all the technical insurance speak mean, anyway?

DO I NEED RENTERS INSURANCE IF MY LANDLORD HAS INSURANCE?

Yes, to insure your stuff. Your landlord’s insurance policy only covers damages to the building, not replacing your personal property or covering your relocation costs, should you need to move out.

I DON’T HAVE MANY VALUABLES. DO I STILL NEED RENTERS INSURANCE?

Look around your home. Imagine how much it would cost to replace every personal item you have. Can you afford to do that? Probably not. You want to consider renter’s insurance.

RENTERS INSURANCE DEFINED

These definitions can help minimize confusion.

PROPERTY

Renters insurance provides coverage for damage to your personal property. Property Coverage is on a named-peril basis, which means that only losses resulting from causes listed in the policy are covered, subject to limits and exclusions.

LIABILITY

Liability Insurance covers you when you’re legally liable for someone else’s bodily injury or property damage resulting from an accident or negligent acts by you or household members - on or off-premises. Included are:

• Costs to resolve claims or defend lawsuits brought against you
• Destructive acts by your pet/s both on and off your property. However, a pet with a “vicious” history may be excluded from your coverage.

MEDICAL PAYMENTS

Pays medical costs for people injured at your residence (other than residents of your household), regardless of who’s liable.

ADDITIONAL LIVING EXPENSES

If a covered loss makes your home unfit to live in, it covers additional living expenses up to 24 months (depending on the policy type).

OPTIONAL COVERAGE-RENTERS

There is also optional coverage to consider. Understand all your choices so that you can make the right ones.

FLOATER POLICY

Provides extra coverage for specific items like art, jewelry, collectibles, and more - stuff that has a little more value and falls outside the limits of your renter’s policy.

REPLACEMENT COST

Contents-replacement cost is available to repair or replace lost or damaged items without deducting their depreciation.

IDENTITY SHIELD®

Assists in the resolution and coverage for losses due to identity theft credit and public-records monitoring and identity or travel documents replacement.

When you have an insurance need, call Debbie Baskin at (901) 476-9977.

It’s all part of our commitment to getting you back where you belong in the event of an unfortunate incident.

Click here for Renters Coverage Review  (PDF format)