Often it makes good financial sense to rent a home. Renters enjoy a freedom of movement and opportunities to live in better housing they would not be able to afford. As a renter the landlord will insure his property, but what insures you?
Renters Insurance provides coverage for your family, your guests and your family’s belongings while you rent. Renters insurance is an often overlooked coverage class. Smart renters secure renters insurance to protect themselves from disaster.
Thompson Insurance Services is an independent insurance agent specializing in renters insurance. Thompson Insurance provides a number of different coverage options from a wide range of insurance companies. There are several options available depending on your needs. Our agents write renters insurance policies that provide adequate coverage, affordability and great service.
Thompson Insurance has several renters insurance coverage options. They include:
Liability
Protection from expenses associated with your legal defense in a liability claim. Some policies cover court judgments against you for covered losses up to policy limits.
Loss of Use
If you are unable to live in your rental home due to fire, damage or another qualified reason, Loss of Use covers your living expenses (up to policy limits) if you cannot live in your rental property. Temporary housing might be provided under this policy.
Medical Payments
Coverage for accidents involving an injury on the rental property. This coverage can cover you, your family or a guest. Coverage is typically provided within plan limits.
Personal Property Insurance
Most landlords do not cover the belongings of a tenant. Personal Property insurance provides coverage for belongings such as furniture, electronics, clothing and appliances.
Special Personal Property Coverage
Additional coverage that covers the contents of your rental property against most risks.
Additional coverage options include:
Deductible Coverage
This policy covers the upper limit on a policy and provides a way to cover a deductible in the event of a qualifying loss. There are qualifying conditions to this type of coverage.
Equipment Protection
Coverage for appliances or electronic systems that fail or break. The cost of repair or replacement these items is covered.
Replacement Protection
Covered personal items are replaced with new items of equal quality if they are stolen, damaged or destroyed.
Valuable Items
Expensive items often need their own insurance. With an appraisal, art, jewelry, dinnerware, guns, and other items can be covered under their own policy.
Water Backup and Sump Pump Overflow
If water failure occurs in your rented property, this coverage will help cover the cost of the damage. This type of coverage does not cover the flooding-related damage.
Get a free insurance quote for your renter’s insurance needs. Call us at 434-432-6211 or inquire online at Get a Quote.