As a renter, you may think that protecting your belongings is the landlord’s job. However, did you know that your landlord’s insurance only covers the building structure and not your personal belongings? Tenant insurance is essential for renters as it offers protection and peace of mind in the event of unexpected damages, theft, or loss.
In this blog, we will explore why you should consider tenant insurance in Albuquerque, NM, and what it covers.
Covers Property Damage
Most landlords require their tenants to have insurance to protect against any accidental damages caused by tenant negligence. Tenant insurance will cover damages to the building structure, including your personal injuries or damage to your belongings.
Natural disasters such as floods, lightning, and storms may damage your rented apartment, and this coverage from ABQ Insurance comes in handy. Your insurance policy may also cover fire or smoke damage, which can be devastating to your personal items stored in your home.
Covers Theft
It is essential to protect your valuable possessions, such as jewelry, electronics, and other high-end gadgets. Tenant insurance in Albuquerque, NM, can provide coverage for such items even if they are stolen outside your residence. Burglars can break in when you are not around and it is frustrating to come back to a ransacked home, no matter how much you have kept inside.
Provides Liability Coverage
Tenant insurance policies come with liability coverage that protects you against claims made by third parties for property damage or injuries that happened in your rental home or that you have caused. If someone is injured while visiting you, a tenant insurance policy can provide the necessary coverage for medical bills, legal fees, and lost wages.
Offers Relocation Assistance
In some instances, if your rented apartment becomes uninhabitable due to damages caused by natural disasters or other covered perils, a tenant insurance policy can help with relocation assistance. The additional coverage can cover temporary accommodation, meals, and other expenses such as moving costs.
