Renters insurance protects personal belongings for those renting a place to stay. Any insurance related to the facilities does not usually provide coverage for the personal belongings of renters. If you are not sure about the protection offered by the insurance coverage that exists, ask your agent at Easley Hedrick Insurance & Financial, serving Richmond, VA, and the surrounding communities in Virginia.
The cost for renter’s insurance is very modest, so it is worthwhile to have this type of insurance protection for anyone that needs it.
Here are some circumstances where having renters insurance is a smart idea:
If you are attending school and either living in the dorms or renting a room or an apartment, getting renters insurance will give you protection for your personal belongings. Be sure to get adequate insurance coverage that is equal to the replacement cost of the items. For example, if your computer is a bit old, do not insure it for the amount you a can get for selling it. Instead, insure the amount you would need to buy a new computer of a similar type.
Apartment buildings are usually insured; however, personal belongings in the building need renters insurance coverage. Ask your insurance agent to explain the coverage available to make sure you get an amount that is sufficient for your needs. Be sure to tell your agent if you have any very valuable items that need extra coverage such as electronics, artwork, or precious jewelry.
Homeowners usually have a home insurance policy for the protection of their home and personal belongings. However, home insurance probably does not cover the personal items of any renter who rents out a room in the home or rents part of a home.
It is a good idea for homeowners to insist that any renters of a home, or a part of it, have renters insurance. Moreover, a homeowner may need to have commercial insurance for added liability protection when all or a part of the home is rented.
Check with your insurance agent for a review of the current insurance protections and recommendations about additional insurance that would be helpful.
When planning to rent a home or an apartment for a vacation, renters insurance is needed to cover personal belongings while staying in the vacation accommodations. Explain the vacation plans to your insurance agent. Let your agent know where you will be staying, and if you plan to enjoy a vacation outside of Virginia, so you get a good recommendation of what to do before your trip.
Contact your agent at Easley Hedrick Insurance & Financial in Richmond, VA to get a quote for any of your renter's insurance needs.