How many times have you turned on your television and see an apartment building destroyed by fire, and the tenants lost everything because they were uninsured? Most apartment complexes and landlords only have insurance that covers the damage to the actual dwelling, leaving your personal belongings vulnerable. Renter's insurance in Florida isn't required by law, but it is legal for your landlord or management company to expect you and other tenants to have renter's insurance as terms of your lease agreement. At Reinas Insurance Agency, we always advise residents to purchase renters' insurance because it protects against financial loss if a covered peril damages your property.
What is renters insurance: Also known as tenant insurance, it is property insurance that provides coverage for a policy holder's belongings, liabilities, and possibly living expenses in case of a loss event.
Do I need renter’s insurance? You can determine this by asking yourself these questions:
- How much is my personal property worth?
- How can I afford to replace my personal belongings if they barely destroyed or stolen?
- How do I pay a legal representative to defend me if I caused property damage or bodily injury if you are sued?
What does it cover? It made up of three different categories, namely:
- Personal property: It covers for the cost of repair or replaces your belongings such as electronics, clothing, and furniture in case of power surges, fire, vandalism, theft, and other events out of our control.
- Personal liability: It protects you from paying out of pocket for individual costs if you are found legally responsible for injuries to other people or damage their property.
- Additional living expenses: Additional cost you incur like hotel bills or additional food expenditure if the residence is damaged and left unhabitable
Are you a resident in Florida? And you are unsure of the renter's insurance to acquire to suit your needs and budget? Call us or visit our Reinas Insurance Agency website and start your insurance journey with us!