Most tenants in Sioux Falls, SD know that renters insurance covers their personal belongings in rented homes. However, this type of policy also offers several lesser-known benefits. These benefits help protect renters against a variety of unforeseen expenses.
Off-Premises Losses
Renters insurance doesn’t only insure your possessions when they’re in your house or apartment. It often also covers them when they’re elsewhere. Coverage regularly extends to items in vehicles and self-storage units. Most renters’ policies also cover small boats. However, limits apply; most motorized vessels still require separate boat insurance.
Liability Coverage
When a visitor suffers an injury at your rented home, it could result in legal action. Depending on the circumstances, either you or your landlord may be held responsible. If your negligence accidentally caused the injury, renters insurance will generally cover the resulting expenses. In addition, it can also cover damage to someone else’s belongings.
Temporary Housing
If a fire or other covered incident makes your home uninhabitable, a renters policy will usually cover the cost of temporarily living elsewhere. You may need to stay in a hotel room and eat at restaurants until you find a new apartment or your landlord finishes repairing the building.
Financial Coverage
Renters’ insurance may cover losses related to check forgery or a stolen credit card up to certain limits. Limited coverage for cash theft may also be included. It’s always a good idea to check your policy to see if it provides these features. Some insurers offer them as optional add-ons.
If you’d like to gain these invaluable benefits, Wilcoxon Insurance Inc. can help you secure an affordable renters policy from a reliable insurance provider. Our knowledgeable staff will answer all your questions and help you compare options. Don’t hesitate to get in touch with Wilcoxon Insurance Inc. at our office in Sioux Falls, SD, by calling 605-271-6600 today.
