Will you be renting a home or apartment in 2020? The landlord may require purchasing renters insurance. Having a solid foundation of what this insurance is all about can save you from major losses if a disaster happens to strike.
Damage to the property is protected by homeowners insurance. A standard policy would protect the personal possessions of the homeowner, but this is not the case for the landlord who may rent the property and their personal possessions. For example, if the home or apartment were to be destroyed by a fire, the policy would likely provide coverage for the structure.
There are several protections included with renters insurance which include coverage for personal property, extra living expenses, and liability. Liability provides protection should you should a person or property sustain injury or damage, including injury because of a household pet. If the leased home or apartment is lost and you have to stay elsewhere for a period of time, extra living expenses would protect you.
Policies may have their differences, but in the case of wind damage, fire, smoke damage, an accident, or robbery, most tenants will be safe. Like the standard homeowners insurance plan, most renters insurance plans do not cover floods.
This information is provided by Miami insurance lawyer Alonso & Perez, LLP. Our areas of practice include insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you. Para mas información sobre reclamo de seguro, por favor llamenos.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.