If you rent, your landlord is responsible for maintaining your home’s structural integrity and functionality. However, you’ll need renter’s insurance to cover your personal belongings. While renter’s insurance pays for damage to your clothes, electronics, and furniture, it may not cover all situations. The team at Affordable Insurance Inc. in Mountain Home, AR, can walk you through available policies to explain what they cover and what they don’t.
Landlord Responsibilities (Not Yours)
Your landlord is responsible for maintaining the building or home in which you live. That means they have to carry insurance on the physical building, including common areas and hallways. Therefore, the renter’s insurance doesn’t cover the physical structure. So, this isn’t something you’ll typically have to worry about unless you’re responsible for damage to these areas.
Sidewalks and Lobbies
If your guest slips and falls in the lobby or on the sidewalk, your renter’s insurance won’t cover their medical bills. However, this is most likely the property owner’s responsibility.
Pets and Insects, Oh My
If your pet hamster escapes and chews through the wiring, your renter’s policy will probably not cover the damage. If a sudden insect infestation damages your new TV, your policy may not cover that either. Discussing this type of event with an experienced agent is important so that you know your policy won’t pay for any pet or insect damage.
What About Natural Disasters?
Typically, the landlord is responsible for structural damage caused by floods, earthquakes, and mudslides. Because every policy is different, you may want to talk to your agent to better understand your renter’s insurance coverage.
Are you wondering what coverage you need while living in a rental? Contact the team at Affordable Insurance Inc. in Mountain Home, AR, to obtain renter’s insurance or to enhance your existing policy.
