How Does Renters Insurance Work?

Renters insurance is meant to protect renters and their belongings. It can also be known as tenant insurance. Renters insurance provides coverage for a guest’s injury, burglary, and theft. A renters policy has many different uses but mainly consists of three different types of coverage.

You’ll agree that none of the situations is within your control. No matter how much security facilities you install in your home, criminals may find their ways around it because they also study security installations to find out their loopholes. Also, even if you succeed with the security of your rented apartment, an accident can occur while guests are in your home. Any of your visitors can slip and fall. He or she may decide to sue you for that.

Now, let’s talk about each type of coverage and what they cover. Renters insurance is pretty universal and doesn’t change much, whether you’re in Richmond or Glen Allen, VA.

Personal property

This policy type may cover the repair cost or the replacement cost of your personal properties like your electronics, furniture, and clothing after a burglary or theft. However, it has a limit. It will only cover your loss to the extent of the limit. You’ll have to bear the cost of the rest.


If you mistakenly damage someone’s property, this policy will come to your rescue. A good example is when you accidentally leave any of your faucets open, your sink overflows, and water seeps into the apartment below yours. You are legally obliged to fix the other tenant’s apartment.

With this policy, you won’t need to pay the bill from your pocket. Also, if you damage your guest’s property or cause an accident that results in injuries, you can fall back on this policy to fix the damaged property or pay their medical bills, depending on what the situation is.

Additional living expenses

If your rented apartment or rented residence is damaged and you have to live in a hotel until it is fixed, this policy will pay for your additional living expenses, including your hotel bills.

Conclusively, you need to bear in mind that the payment is to your policy limit. For more information on renters insurance, contact Everett Insurance in Glen Allen, VA.