Insurance for Renters
If you are a tenant living in a rental home, renters insurance helps protect your personal belongings and covers you for accidental damage to your landlord’s property. Depending on your policy, renters insurance can also cover you for temporary accommodation if your home becomes unlivable. At Lync Insurance, our team can help you choose a plan that provides the right types of coverage for your specific needs.
If you are a property owner leasing your home to tenants, landlords insurance may be better suited for you.
Renters Contents Insurance
Contents insurance can protect your personal belongings if they are damaged due to natural disasters, fires, and floods, or if they are stolen during a burglary. Furniture, electronics, and personal items can be costly to replace, especially if the damage is caused by a widespread issue, such as a burst pipe that floods your house. Owning contents insurance means that you’ll be financially reimbursed if you need to replace any of the items in your home that are damaged by a covered event.
Cover for Accidental Property Damage and Temporary Accommodation
While you don’t own the house you’re living in, you’re still partially responsible for it. If an accidental fire is caused by an unattended stovetop or a faulty appliance you own, you may be financially responsible for any damage to the building. These costs can be high, having accidental property damage included in your renters insurance policy can protect you from having to pay for expensive repairs if you or someone you live with damages your landlord’s building by mistake.
Additionally, some renters insurance policies can provide temporary accommodation cover if the home you’re renting becomes unlivable due to a fire, flood, structural damage, or other covered issues. This prevents you from having nowhere to go in the worst-case scenario.
Understanding the Cost of Renters Insurance
The cost of renters insurance depends on the policies you’d like to include, such as contents, accidental damage, and temporary accommodation cover. Each type of policy also has its own specific inclusions which can vary from plan to plan, for example, a standard renters contents insurance plan covers all of your personal belongings, however high-value items such as artwork or jewellery may need to be added on separately, and portable items such as laptops typically require their own policy add-on.
To find a renters insurance plan that’s right for you, get in touch with our specialist team who can provide you with pricing and quotes while helping you compare the different policies that are available. Contact us today.
