Renters insurance is a line of insurance that helps renters to mitigate the risk they face of a peril damaging or destroying their rental unit. In the US, only about 40% of renters carry renters insurance. At Everett Insurance in Glen Allen, VA, we want to make our customers and all renters aware of the significant risk they are taking without any protection.
In Virginia, no law requires renters to purchase renters insurance. But, that does not mean your landlord or management company won’t require you to have it. Read your lease carefully to ensure that you get insurance if required. Even if you are not required to have renters insurance, it is something you should consider having. It offers several different types of protection.
As a renter, much of what you own is likely in your rental. Would you be able to replace everything if it was lost to fire? If the answer is no, that would be a challenge. It would be best if you had another way to replace them. The most obvious is to have renters insurance. It is affordable and, depending on the kind of content coverage you choose, can provide the funds you need to replace your property.
Liability insurance protects you and your assets from something that may have gone wrong. Someone could be injured at your home, have medical bills, and decide to sue. That could result in a judgment against you.
Loss of use
If your rental is damaged so severely that you can no longer live there, you need the money to stay at a hotel and, if necessary, get a short-term rental. This coverage can be a lifesaver.
Contact Everett Insurance in Glen Allen, VA to learn more about renters insurance.