The homeowner has property insurance covers the structure of the home in the event of fire or storm or other unforeseeable incidents. The homeowner property insurance does not cover the tenant’s personal belongings. Obtaining renters insurance protection for your personal property when renting a single-family home, condo, villa, or townhome is important. Requiring renter’s insurance is usually on a lease agreement. Renters insurance is required under JAT Property Management LLC.
Generally, renter’s insurance covers theft, fire, sewage backup (it happens if the property is on septic tank) plumbing problems if a pipe broke and damaged the furniture and other personal belongings.
Renters insurance may even protect you in the event of a fire. A fire damaged the property in which requires you to move and live in a temporary location until the property is remediated.
A renter’s insurance policy also typically includes:
- Personal liability coverage — in case you are found legally liable for bodily injury or property damage to someone else in the event of an accident at the property.
- Personal property coverage – even when you are traveling and away from home.
- Additional living expenses – when you cannot stay in your rental because of a claim.
Typical cost of renter’s insurance is anywhere from $15 to $20 a month depending on the coverage.
Contact me to obtain additional information on renter’s insurance and brochure.