Renters insurance is a lot like car insurance: you pay for it in the hopes of never having to use it. Although this won’t protect you from all the disasters that life has to offer, it does provide peace of mind by protecting your possessions in the event disaster strikes. Nowadays, it is essential to protect yourself with more than just your possessions, and you will find that San Marcos renters insurance in is a great way to secure that protection. Renters insurance protects you from disasters in the following methods.
1. Protects Your Belongings From Damage and Theft
If there is a fire, flood, or someone breaks in and steals your clothing, pets, jewelry, or other valuables, your insurance will replace it. Certain things wouldn’t be covered if they are stolen- for example, laptops and flat screen televisions- but for everything else that has sentimental value or that you would miss terribly if it were gone- all you have to do is notify the insurance company of theft, and they will pay out replacement costs.
2. Damage to Landlord Property
If any property in your rental unit is damaged by fire, the landlord will deduct the costs from your security deposit. Sometimes, they can also decide not to return your security deposit and charge you for other expenses they might incur while replacing or repairing damaged property. Renters insurance will cover these damages and ensure you are not taken advantage of in this situation.
In most cases, your renter’s insurance will cover liability- which means that if someone is injured in your home and you are found liable, you get paid by the insurance company to cover medical expenses, lost wages, and anything else they might need to recover from the incident.
4. Loss of Use
If your home is uninhabitable from a covered loss, this coverage provides additional living expenses for the shortest time needed to repair (or replace) the premises, or for the people in your household to settle in another home for up to 24 months.
5. Property Offsets
You will be protected from theft and fire without possessing physical possessions that might be stolen or burned. Some companies offer the option to add a cash value to your policy for an extra premium. The cash amount you choose is used to make up for any missing or stolen items by using money in your insurance company’s fund. It will cover your belongings even if the policy does not cover them. It also protects you from floods and earthquakes.
It is important to remember is that many landlords require tenants to have a certain amount of renters insurance. It might cost you anywhere from one hundred dollars annually to thousands, depending on the coverage you need. With the generally low cost of Renters insurance, there is no reason not to take advantage of the benefits that you can reap in the case of a disaster because you were covered. There are many options to choose for rental insurance in San Marcos TX depending on your needs and getting in contact with an insurance agent like Matt Patterson insurance can be the first step in initiating your coverage.