Walker Insurance and Coverage for Renters

Walker Insurance and Coverage for Renters

At Walker insurance you can hear story after story of renters who felt there wasn’t a need for coverage until that day that all of their precious stuff was gone, either due to theft or fire, or some other calamity like water damage. But the fact remains that all renters should get renter’s insurance.

Only when you lose all of your possessions can you truly realize just how much those items (electronics, clothes, books, jewelry, etc.) can cost to replace. And when you consider the fact that a renter’s insurance policy is relatively cheap to purchase, you can understand just how important a product it is to buy.

Busting the myth

Unfortunately there are still many uninsured renters that are under the mistaken impression that their landlord’s policy covers their possessions. Nothing could be further from the truth. A landlord does not provide insurance for a tenant’s personal property and is therefore not responsible for those items when they are lost or stolen.

An exception to this can occur if the landlord was aware of a prior hazardous condition, such as faulty wiring in the apartment, and failed to correct it in a reasonable time frame. There would now be liability issues for the landlord if, as a result of their negligence, your property was damaged.

While the building itself is insured, and should something happen to this structure as the result of a fire, water damage, etc, the building owner is entitled to file a claim. However, the landlord’s insurance doesn’t protect you as a renter.

If this same fire or water damage should ruin your sofa, clothes or other personal items, you’re not protected against the loss of these items unless you buy a separate renters insurance policy. Moreover, if someone becomes injured while on the premises you rent, you could potentially be held liable for any medical and hospital expenses. Let a specialist at Walker Insurance provide you with the needed information to make an informed decision about your own coverage needs.