Renters Insurance Information
While you may rent your home and not own it, you’re still responsible for what happens inside your dwelling. The unexpected expenses of an injury or property damage can cause stress and financial hardship.
Renters insurance typically provides liability and property damage coverage. The liability portion of your renters insurance policy helps protect against claims of third-party bodily injury or property damage that you or another person listed as insured on your policy may cause. It can also help pay for medical bills if someone has an injury in your rental.
What Coverage Options Are Available?
Two personal property coverage options are available with renters insurance: replacement cost value or actual cash value. If you insure at replacement cost value, you can replace your purchased belongings at today’s prices. If you opt for the actual cash value, you can get the replacement cash value minus depreciation at your loss.
Some renters insurance policies may also pay your temporary living costs if you need to move because of a fire, severe storm or another insured disaster. Your policy may cover hotel bills, temporary rentals, restaurant meals and other living expenses. At Niceville Insurance Agency, we can discuss what’s included in your policy.
How Much Coverage Do I Need?
Your renters insurance policy premium depends on the value of your belongings and what you want to insure. There is no standard coverage since it’s usually optional, but you want an appropriate amount of coverage to protect your belongings. It’s a good idea to inventory your personal belongings, adding up the value of everything you’d want to replace if damaged or stolen. If possible, record model numbers, dates and places you purchased items and take photographs or videos of your items. Keep a copy at another location.
Renters insurance typically doesn’t cover floods, earthquakes, or routine wear and tear. You may need additional insurance coverage for flood and earthquake damage depending on your location and needs.
Obtain Peace of Mind
Locally owned and operated, Niceville Insurance Agency can help you with renters insurance that gives you the protection you need. We proudly serve our Florida customers, with our efforts concentrated in Okaloosa, Walton and Santa Rosa counties, as well as our Gulf Coast customers in Niceville, Crestview, DeFuniak Springs, Destin, Fort Walton Beach, Freeport, Mary Esther, Miramar Beach, Navarre, Santa Rosa Beach and Shalimar.
Call us at 850-729-2131 to get the insurance you need for peace of mind.