1. What types of personal property are typically covered by renters insurance?
What is Personal Property in Renters Insurance?
Renters insurance is a great way to protect your belongings from theft, fire, and other disasters. One important part of renters insurance is personal property coverage, which covers and helps you replace the items in your rental home, apartment, condo, or trailer in the event of theft, vandalism, or natural disasters.
What Does Personal Property in Renters Insurance Cover?
Personal property in renters insurance is designed to cover items that you own and which are inside your residence, such as:
- Clothing and Accessories
- Furniture
- Appliances
- Electronics
- Sports Equipment
- Tools
- Stereos
- Jewelry
- Paintings
- Collections
The amount of personal property coverage that you can get may be limited, depending on your policy and the items that you are insuring. Generally, most policies offer $10,000 – $30,000 in coverage for your personal property.
What Isn’t Covered By Personal Property in Renters Insurance?
Personal property in renters insurance does not cover pets, vehicles, or any property that is owned by a tenant’s landlord, such as built-in appliances like refrigerators and stoves.
Additionally, most policies exclude coverage for items that are rare or of great value, such as antiques, jewelry, and artwork. You may be able to get additional coverage for these items, but there may be an added cost.
Do I Need Personal Property in Renters Insurance?
Renters insurance is not required by law, but it is strongly recommended that you get renters insurance to protect your belongings in case of theft, vandalism, or natural disasters. Personal property in renters insurance is an important part of healthful coverage and should not be overlooked.
If you’re looking for more information on personal property in renters insurance, contact your insurance agent today for answers to any questions you may have about protecting the items in your rental home.