Although owning a home remains the American dream for many, renting offers a number of benefits to include not having to pay for maintenance and upkeep, not worrying about becoming underwater on a mortgage, and being stuck in one place for too long. Renting a home, apartment, or condo does not absolve you from financial responsibility which is why having renters insurance is so important. In fact, your landlord may even require that you have renter’s insurance within your rental agreement to help protect both parties should damage occur.
Contrary to widely held belief, your landlord’s insurance will not protect you or your belongings if there is an incident that destroys your items because it only covers the structure of the building. Having renter’s insurance protects your belongings from a myriad of possibilities to include fire, lightning, theft, vandalism, windstorms, smoke, and water damage. Even if you do not think that your furniture is worth that much, items add up quickly when you need to replace everything from a bed to couches to chairs.
Renters insurance in Kentucky not only covers your personal belongings but also includes liability coverage so that if a visitor or friend is injured while at your rental you are not responsible up to your policy limit for medical bills or legal costs if sued. In addition to the aforementioned benefits, renter’s insurance also pays for alternative living arrangements should you have to vacate your apartment while it is being repaired after a covered disaster. Other benefits include coverage for dog bites, items that you’ve rented or borrowed, and protection for your belongings while you are traveling or not at home.
At the Worthington Insurance Group in Kentucky, our talented team of insurance professionals are standing by to answer all your questions on renter’s insurance. To learn more, give the Worthington Insurance Group a call or stop by our conveniently located office to learn more about how we can support your insurance needs.