So Your Landlord Is Covered – What About Your Insurance?
If you live in a house or apartment that is owned by a landlord, then you need renters insurance in Clark, East Brunswick, Edison, New Jersey, Union, West Orange, Westfield, Woodbridge NJ.
Why? The reasons are simple.
Your landlord is compelled by law to have home insurance, but that probably only covers for the house or apartment itself. This means that you are “left in the open”; if any of your household items, belongings, clothes, furniture, documents, or technological items are lost, stolen, flooded or caught in fire, you risk losing them forever. This is why it is vital for you to make sure that you and your lifetime savings are covered in case of damage, break-through, and so on.
Homeowners versus renters insurance
The main difference between a homeowners’ insurance and renters’ insurance is that the first offers coverage for a building AND its belongings, while the second allows you to recover the value of the items you lost as a result of your landlords’ property being damaged.
Popular myths about renters insurance
Renters insurance is expensive. False. Renters insurance covers for your goods, and at the same time it provides liability for accidents coverage. Its costs are calculated together with your insurance agent and can be tailored to your needs, starting from a basic coverage package and going up.
Renters insurance is useless to people who have few belongings. False. The policy will cover for your belongings, no matter how numerous and no matter how valuable. A common misconception is that, if you don’t have a lot of belongings, you are not “expensive”. The truth is that a lot of people have no idea how much their belongings are worth. This is why it is important to realistically evaluate your belongings and have renters insurance to make sure you are covered for all of them at their net worth.
For more information about renters insurance contact an insurance representative from American Insurance in Clark, East Brunswick, Edison, New Jersey, Union, West Orange, Westfield, Woodbridge NJ.