At Patrick McNealis Insurance and Financial Group in Emmaus, PA, we protect renters from unexpected emergencies. We help tenants feel secure and covered by offering renter’s insurance policies with their goals in mind. As an insurance agency, we receive some questions about renter’s insurance more often than others. For this reason, we decided to answer some of those frequently asked questions.

What Is Renter’s Insurance?

Renter’s insurance is a form of coverage that protects tenants and their valuable belongings against theft, damage, and liability. You probably qualify for renter’s insurance if you rent an apartment, townhouse, or other dwelling. If you’re a homeowner, homeowner’s insurance would be a more appropriate policy choice.

What Does Renter’s Insurance Cover?

While every policy offers individualized terms and limits, the renter’s insurance policies generally cover the rental unit and the valuable contents inside. They tend to provide a combination of liability, damage, and theft coverage. Most renter’s insurance policies only cover stolen items and damage up to a certain limit. Some policies may also cover liability if someone is injured in the unit and the renter’s insurance policyholder is found to be at fault.

Do I Need Renter’s Insurance?

Although we can’t answer that in a blog post, we can say that most renters need renter’s insurance; even if your lease doesn’t require it, it’s good to have protection. If your roommate or housemate has a renter’s insurance policy, you still might need your own policy to protect your belongings or increase the limits of your renter’s insurance policies. Additionally, having your own renter’s insurance policy means that your roommate’s renter’s insurance claims may not affect your policy.

Call Patrick McNealis Insurance and Financial Group in Emmaus, PA for a renter’s insurance quote.