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Renters Insurance in Carlisle PA Can Protect Tenants From Financial Losses

Renters Insurance in Carlisle PA Can Protect Tenants From Financial Losses

Some types of insurance are required, such as auto and homeowners policies, and some others are just a good idea to have. Although there are no laws or industry practices that require tenants to have renters insurance, having a policy in effect can protect renters from a lot of the same liabilities that homeowners insurances does for anyone who purchases a home.

For example, if a guest is injured inside an apartment unit and the tenant is found to be at fault due to their negligence, they can be held financially responsible for the other person’s medical bills, salary while they were recovering and their costs to travel to and from their medical appointments. If that tenant has Renters insurance in Carlisle PA, their policy might cover all or most of those costs. A single accidental injury could cause serious financial strain on a family without this kind of insurance.

Some renters don’t understand that the property owner’s insurance does not cover the belongings they have inside their apartment. If the building is damaged by fire, flooding or a storm, the owner’s insurance should cover the damage to the structure. However, if the tenant does not have Renters insurance in Carlisle PA, they will have to replace their belongings out of their own pocket. On the other hand, some renter’s insurance policies not only cover lost or damaged property, they also cover a hotel room if the building is not inhabitable.

Like homeowners insurance, renters insurance offers different coverage options. It’s important for tenants to work with an experienced agent to ensure all of their property is covered and that they have the additional options they need. Renters insurance is so affordable, there really isn’t a reason for tenants to not have it. In many cases, a good policy from Farnham Insurance Agency costs a renter less than $100 a year. A policy might cover losses related to theft, vandalism, and fire. Some policies even offer coverage for property that is stolen while the tenant is away from home, such as items stolen out of a vehicle or from a dorm or hotel room.

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