clock March 26, 2014 comments No Comments flowchart Homeowners InsuranceOur Blog tag LandlordsLiabilityRentersSafety

Let’s face it, it’s a good question: Why should you get renters insurance? After all, your landlord’s homeowner’s insurance will protect you, right? Nope. Well then, somebody’s insurance has to cover you, right? Correct; yours! It’s an awfully common misconception that in the case of a fire, burglary, water damage, or smoke damage, that the landlord’s homeowner’s insurance will protect the renter as well. This isn’t so. Seeing as the landlord is the owner of the building he is the only one that would be covered in this situation. You, my friend, still need to get renters insurance!

In Rhode Island renters insurance automatically covers the loss or damage of your Personal Property (your possessions), Loss of Use (the cost of living elsewhere if your apartment is damaged by a covered claim), and Personal Liability (if you are held responsible for causing injury or damages to someone else).  Aside from protecting you against multiple types of damage originating in your apartment (such as water, thieves, smoke, fire, ninjas…), renters insurance will actually cover you for danger which originated in another apartment. For example, if the tenant above you falls asleep in the shower blocking the drain and the water overflows onto the floors, through the ceiling, and is suddenly dripping on your prized 52′ LED television, your renters insurance would cover the damage or replacement of your television!  Don’t laugh… this is an actual claim we saw!  If the damage to your place results in your apartment being unlivable while repairs are made, your Loss of Use coverage will kick in to pay any increased living expenses you incur while you’re forced to live elsewhere . And that’s not all! Your renters insurance would also include liability coverage.  Say a guest gets injured at your apartment, or your dog mistakes someone’s leg for a chicken bone (?), liability insurance will take care of those injuries or damages that you’re legally liable for as well!

(This is the guy you don’t want to end up like.)

RI renters insurance can be purchased for as little as $200 a year. If you stop in or call us, we’d love to have one of our agents help you out! Hurry up and call! You don’t want to end up like this guy…

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