TWFG Services Renters Insurance – Compare prices and save
As a renter, you need insurance coverage for yourself and your possessions. Your landlord’s insurance only covers the cost of repairing the structure in case of accidents or disasters. If your home is damaged by a fire or storm, you are responsible for your possessions. With proper insurance, you have financial protection that covers personal possession, living expenses if you need to temporarily relocate, ad liability protection. Do your research and select the policy that best fits your needs.
When evaluating a policy, make sure you have enough coverage to replace your possessions in the event of a disaster or burglary. You can create a home inventory to detail what you own with estimated values of each item. This inventory should include all items you own and is also useful if you have to file a claim. If you have expensive jewelry, furs, sports or musical equipment, or collectibles, consider adding a floater to your policy. Since most policies limit the amount of a claim for certain items, adding a floater allows you to provide full protection for specific items or groups of items.
Renters insurance typically protects against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and certain types of water damage (such as a broken pipe). However, most policies do not cover flood damage. If you suspect you need flood insurance, you can purchase this separately.
Your renters insurance policy also provides liability protection that covers you against lawsuits for bodily injury or property damage done by you or others covered by the policy. Be sure to check your policy to know how much coverage is provided and consider whether the amount is sufficient to protect your assets. Remember, your policy is part of your financial planning and protection.
If the damage to your home or apartment warrants that you move out while it is repaired, your policy often provides coverage for certain additional living expenses. These expenses can includes hotel bills, temporary rental fees, meals, and other charges. It is important to evaluate your policy in terms of amount of coverage and what limits exist.
TWFG Services Renters Insurance – you can’t afford not to–
As with all financial planning decisions, purchasing renters insurance requires due diligence. Do your homework to understand how policies vary and which features are most important to you. The professionals at TWFG Services are experienced at working with you to match your needs with an appropriate policy. Please contact us today to start the process of protecting your family and your assets.