If you rent your home, whether an apartment or a house, you need renter’s insurance. U.P. Insurance Agency Inc. serving Negaunee, MI can help you obtain the policy you need with our affordable coverage options.
You May Have to Purchase Renter’s Insurance
Many landlords write a requirement for renter’s insurance into their leases. Without a renter’s insurance policy, you won’t get to rent the home you want.
Sometimes, the complex in which the homeowner resides requires insurance. For example, your landlord to be might own a condo or townhouse. The condo or townhouse complex can require the renter’s insurance if the homeowner sublets.
Only Your Renter’s Insurance Protects Your Belongings
Your landlord carries home insurance, but it only protects their home, belongings, and their liability. If you host a guest in your rented home who has an accident while there, you hold the liability for their safety.
Your insurance pays for their medical care and the settlement if they sue you. If you don’t own renter’s insurance, the medical care and settlement come out of your own pocket.
Side Benefits of Renter’s Insurance
When a named peril damages the home you rent, your landlord’s insurance protects their financial loss and pays for repairs. Where do you live in the meantime though?
If you own a renters’ insurance policy, your insurance company pays for your hotel in a sense. That’s because a renters’ insurance policy contains a provision for loss of use. Some policies refer to it as an additional living expense benefit.
Contact Us Today
Contact U.P. Insurance Agency Inc. serving Negaunee, MI for the renters’ insurance you need to protect your belongings and liability. Let us help you obtain the policy you need to fulfill landlord or condo/townhouse complex requirements.