A Guide to Renters Insurance

Renters insurance provides coverage to those who rent their home in Huntington Beach, CA. The landlord is responsible for the insurance for the structure itself, but is not responsible for the contents of the unit. This is where renters insurance comes in. If disaster strikes, the landlord’s insurance will help pay for repairs, but any possessions will have to be covered under a renters insurance policy.

Standard renters insurance will reimburse policyholders for the loss of belongings from 16 specified events. Some of these covered events include fire, windstorm, explosion, smoke, theft, or vandalism. Renters insurance will not cover any damage from floods or earthquakes, and if you want coverage for these events you will have to get a separate policy.

Besides protecting belongings, there are some other things that renters insurance covers. It provides some liability insurance if someone is injured in your home. Not only does it cover injuries, but it also covers damage that you and your family accidentally cause to others. It will cover both legal representation if there is a lawsuit and the damages that are awarded to the other party. In addition to liability, renters insurance will also cover additional living expenses if your home is destroyed in a disaster. This covers hotel bills, restaurant meals, and some other costs.

There are two types of policies that are typically offered. A replacement cost policy will pay for the actual cost to replace the items and doesn’t take into consideration any depreciation. Actual cash value policies will take into account depreciation, so you will receive less for your items. However, these policies are typically cheaper. An agent at Western Republic Insurance Services can help you determine which policy is right for you. You will also need additional coverage for any valuable possessions, such as jewelry.

Contact Western Republic Insurance Services, serving Huntington Beach, CA, to get a quote on renters insurance.