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August 29, 2016

Who Is Covered By Renters Insurance?

Renters insurance

With the sudden rise in popularity of apps like Airbnb, it’s no wonder that more people than ever are looking into renters coverage. Regardless of the property that you’re renting, having Tulsa renters insurance can be the difference between experiencing a traumatic event and a minor inconvenience. Of course, not many people are familiar with the intricacies of renters coverage, which is why this guide will go through some of the more important components.

Personal Property Coverage

Put simply, personal property coverage takes care of exactly that: personal property. In situations where your personal property is unexpectedly damaged or lost, personal property coverage can help provide the money needed to replace it. Different insurance companies will have different limitations assigned to the coverage, but most policies cover the damage that results from a fire or theft. While personal property coverage is an excellent tool for recovering after a natural disaster or unfortunate burglary, there are some restrictions assigned to it. If you have a particular valuable collection of coins or jewelry, you’ll want to review your renters coverage more closely to ensure that your property is protected.

Liability Coverage

Liability coverage is something that people often don’t think about, but it’s incredibly valuable in the event that it comes up. Any situation where a guest suffers an accident while in your home, or would otherwise hold you liable for something, can be protected under liability coverage.

Additional Living Expenses

While renters insurance is great for protecting personal property in the event of a fire, it turns out that it’s also useful for when the property itself becomes damaged and you are unable to continue living in it for a period of time. In these situations, Tulsa renters insurance can help pay off hotel bills or rising food costs from eating away from home.

As with most forms of insurance, no one wants to imagine their life crumbling because of an unexpected event, but it’s always wise to be prepared ahead of time. Renters insurance is a great way to ensure that your home is as safe as it’s meant to be, no matter what happens.

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