Renters Insurance in Bradenton FL: An Overview

Home insurance is a one-size-fits-all policy. Each home insurance policy is different. However, a standard policy usually offers coverage for damage to a house and its structure, damage to personal belongings specified in the insurance policy and limited / additional coverage for valuable items like jewelry.

But, what if you are living in a rented property? Does a standard policy’s coverage apply to a rented property?

Renters insurance offers coverage for a rented home and its belongings. Many renters assume that their landlord’s policy will cover their personal items. But, a landlord’s insurance policy offers coverage for a property itself. It doesn’t cover the personal belongings of a renter.

Renters insurance is designed to protect individuals’ personal items in a rented home, apartment or condo against unexpected events. These events include theft, fire, etc., which can cause losses to a renter’s personal possessions. Similarly, it can protect renters from liability in case someone is injured on the rented property.

What does it cover?

A renters insurance policy can cover losses or damages to personal belongings in the event of a fire, hail, lighting, theft, vandalism, or a frozen plumbing system.

On the other hand, coverage excludes valuables, vehicles and home businesses.

How does renters insurance work?

If a person experiences a loss to their rented space or their belongings, a renter’s insurance company will cover the associated costs. However, it’s important to remember that the insurance company will cover losses. In other words, the type of losses that are specified in a renter’s insurance policy.

When it comes to the amount of insurance coverage, there are typically two types of coverage options available to people living in rental properties. These include actual cash value coverage and replacement cost coverage.

Actual cash value will reimburse the actual value of an item at the time of the damage, while replacement cost coverage will cover the cost it takes to replace the damaged item.

Do you need renters insurance?

If you’re on rent in Bradenton, FL, a renters insurance is a smart way to keep yourself safe against losses. As renters insurance policies vary from one company to another, Manatee Insurance Services, Inc. can help you choose the best deal.

We are affiliated with leading home insurance companies and can offer you the best possible rates. Get in touch at 941-747-7283 to schedule a consultation.

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