Things you should know about Rental Property Insurance

by George Willis Insurance Agency

Do you want to rent your home to earn additional income? If yes, then you should understand the importance of renters insurance for homeowners. Rental property insurance is also known as landlord insurance that prevents non-owner occupied commercial and residential rental properties. The rental insurance cover the properties include apartment, condo house or vacation property. So, when you are planning to rent or lease you should consider the renter home insurance that protects your property. This insurance will only cover the building itself, not your personal possessions. 

 

 

The Renters insurance for homeowners is divided into two parts. In the first part, it offers property coverage for loss or damage from some unexpected events. Before buying a renter you should pay attention to the details which will be generally for overall limit on the payout and maximum amount for any one renter insurance claim. With a renter, you will get cover for the damages like fire, theft, wind/hail, lighting, and liability. For example, you can get paid for replacing the items destroyed in the fire. 

 

Liability coverage 

 

Some renter’s policies give you protection through liability coverage. This will prove beneficial if you accidentally damage the rental property itself or someone gets injured while visiting your property. The insurance will cover all the damage and pay for medical bills or other expenses related to the accident.

 

Loss of use coverage

 

You can also get cover for your living expenses if your rental property is uninhabitable due to one of the events. It means if your place is not in the condition to live while repairs are being done then renter insurance may also provide coverage for staying, meals, and related expenses. The insurance will help you to cover such loss and you don’t need to pay from your pocket.

 

Renter insurance Exceptions

 

When you buy renter insurance, you should also know about few things which are not included in it. Like, if you park your vehicle on the rental property then it will be not covered by the renter insurance. Whether you rent an apartment or home you can’t ignore the importance of having renters insurance. It is a cost-effective option that can save money in case of any mishap happen in the future.

 

If you are also looking for rental property insurance Texas then you should approach the trusted insurance agency that helps you to get the best insurance protection according to your need. Insurance Piggy Insurance is one such independent agency that helps you in finding the right renters insurance for homeowners. They are associated with multiple insurance companies and provide a perfect blend of price, coverage, and services to meet their client’s needs. They provide a variety of policies at the best prices. Insurance Piggy Bank is supported by highly experienced and licensed insurance advisors who will explain to you about the insurance process to simplify the complexities and help in choosing the right insurance as per your needs. They provide their services round the clock that if you have any queries you can call them to get the solution.

Sponsor Ads

• Ad Space Available - Rent it Now!

Created on Aug 9th 2021 23:43. Viewed 203 times.

Comments