Renters Insurance

If you are getting ready to rent your first home or apartment in Virginia, you should get renter's insurance as soon as you sign the lease. Many people believe that as long as their landlord has homeowner’s insurance that they are covered. This is not the case. The landlord's insurance would cover damage to the structure of the building, but that's all. If you want the protection of your own, you should purchase a renter’s insurance policy. There are several ways this type of policy can protect you.

Fire and Other Damage Protection

If the building was damaged or destroyed during a fire or a severe storm, your landlord's home insurance would cover the structure of the building, but nothing more. If you have a renter’s insurance policy, it would cover the cost of anything that was damaged or destroyed.

Theft Protection

According to the Federal Bureau of Investigations, there are 1.3 billion home break-ins every year. If your apartment is robbed, your landlord's home insurance would cover any damage to the building that the intruder caused while trying to gain access. If you want your belonging to be covered if there is a break-in, you would need to have renter insurance. Your policy would pay to replace your items of value such as jewelry, electronics, and furniture.

Liability Coverage

Renters insurance includes liability coverage. If someone is injured on the property and it was your fault, your renter's insurance would cover their medical bills and any other costs associated with the accident. Your plan may also cover incidents that happen away from your apartment. For example, if your child throws a rock through a neighbor's window, your liability insurance could cover it.

Additional Living Expenses

If the building was damaged or destroyed in a fire, a severe storm, or another disaster, and you cannot live in your apartment until the repairs are made, this coverage is essential. It will cover the cost of your food and lodging while your apartment is being repaired.

When you sign the lease to your new home or apartment, contact David Martin Insurance Agency Inc. Our agents can help you set up a renter’s insurance policy that will provide the protection you need. To get your policy started, give us a call or stop by one of our locations today.