Don’t own your home? Renting a house, or an apartment, or even a room in someone’s house? You still need to protect your belongings. Unless you don’t have anything you feel is worth protecting, of course. However, most people spending money they earned on things they want usually want to make sure if their stuff is stolen, or destroyed, they’ll have a way to replace it all without going bankrupt. The question you need to ask yourself is “what insurance do I need as a tenant?”

white apartment building against a clear blue sky

What insurance do I need as a tenant?

The answer: Renters Insurance. So what is it and what does it cover?

What’s Renters Insurance

It’s insurance that covers lost, damaged, or stolen possessions. An added bonus of Renters Insurance? Injuries a guest in your rental property/apartment sustains. You must chat with your insurance agent to discuss the amount of coverage you need to cover both your possessions and your liability, but it’s necessary to have Renters Insurance so you don’t have to pay all costs out of your own pocket if a claim has to be filed.

What does Renter’s Insurance Cover?

Renters Insurance provides policy owners with financial reimbursement once a claim is filed. If there’s a fire, or someone steals your stuff, or there’s some kind of other vandalism, you file a claim and insurance pays you to help make you whole again. In some cases, such as a fire, if you’re forced to find living arrangements other than your rental property, insurance will provide compensation. Now, if a person is hurt in your rental, depending on where the injury occurs on the property, and the circumstances leading to the injury, you may be held responsible. In this instance, your liability insurance will help.

All of these payments/compensation are based on the amount of coverage you’ve chosen to include in your policy. Renters Insurance is necessary, and the best way to make sure you’re properly covered in the event you do need to file a claim, is to work with an insurance agent.

A good insurance agent can find the best coverage in your budget! Tango Agents are eager to answer your questions about Renters Insurance, as well as shop to find you the best prices. Stop in and visit us in Commack at the Northgate Shopping Center on Jericho Turnpike. Or, give us a call at 631.543.0500.

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