Tenants or renter’s insurance is essential insurance coverage for renters. Should a fire or other loss occur, your landlord may have coverage on the actual building, but that coverage does not extend to your property or possessions.
Leonard Insurance can provide the special protection needed in one, low-cost package that covers the following protection:
Personal property coverage
Renters insurance provides protection for your furniture and personal possessions – at home or away from home. This personal property coverage is also called contents coverage since it insures the contents of your apartment. You determine the value of your property and the renters premium is based on this amount. Leonard Insurance can help you determine the amount of personal property coverage that’s right for you.
Personal liability protection
In the event that you are sued, your renter’s personal liability protection helps to cover the associated legal costs and related damages. Most renters policies provide $300,000 (minimum) of financial protection against liability claims and lawsuits brought by others for accidental bodily injury or damage to their property:
- while in your apartment
- caused by your personal activities
- caused by your children or pets.
Liability protection also includes medical payments coverage. For example, typical policies will pay up to $1,000 per person — regardless of your legal responsibility — when an accident involves bodily injury to others. Higher amounts of coverage are available.
Additional living expenses
If you are forced out of your apartment by a covered hazard, typical coverage pays you up to 20% of the contents coverage for necessary additional living expenses (hotel, meals, laundry, etc.) while your damaged apartment is being repaired.
A deductible is the amount of loss you agree to assume before your insurance coverage takes over. The higher your deductible, the lower the cost of your policy premium. The deductible applies to property losses only. Liability protection does not require a deductible.
Optional property coverages
You may require special coverages for your individual needs, which can be purchased separately. For example, Valuable Items provides higher limits and worldwide protection for special property such as jewelry, silverware, fine art, furs, cameras, firearms, musical instruments, and home computers for an extended variety of losses.
This is not intended to be a complete description of coverage. Leonard Insurance can provide you with the coverage which suits you.