If you rent an apartment or house in Inglewood, you may wonder whether you should look for rental insurance to protect you and your home. When you’re making that decision, here are three questions you may want to consider when deciding what is right for you.
Are you covered by your landlord’s insurance?
Some people think that their landlord’s insurance will cover the loss of items in their apartment or rented home. That may be why only one-quarter of renters have insurance, according to the Los Angeles Times. Though your landlord’s insurance may cover common areas and the building itself, by using renters insurance Inglewood residents can protect their belongings and the people in their private space.
What types of renters insurance are available in Inglewood?
Whether insurance is required by your landlord or you have decided it is time to protect your assets, there is a policy that can cover you. When searching for renters insurance Inglewood residents have three general types to chose from damage to personal property, personal liability for injuries to others and their property, and damage for loss of use of the property.
Personal Property insurance covers damage, loss, or theft of belongings in your home. Your home and its contents may be damaged by natural events like fire and lightning or by actions of others like vandalism and theft. Personal property insurance will help you insure against the cost of repairing or replacing your property when these covered events occur.
Personal liability insurance helps to cover you if someone injures themselves in your home. You may be responsible for injuries to guests or even some trespassers in your home, according to Andrew Suszek of All Law. Renter’s insurance can help fight for you if someone claims they hurt themselves on your property.
Loss of Use insurance helps you pay for the extra costs of temporarily living away from your home because of unexpected damages to it. When your home is damaged, the cost of repair isn’t the only unexpected expense. Loss of Use insurance helps pay for a hotel room or other temporary housing while you wait to get back in your home.
Will you be renting to others?
Subleasing or renting through AirBnB or VRBO can help you make a little money, but make sure renting does not violate your insurance policy. For renters insurance Inglewood residents should ensure that they do what is necessary to be covered if a temporary renter causes a fire or is hurt when at your home. The Insurance Information Institute recommends becoming familiar with your rentals insurance policy whether you are renting out your home or using one of the peer-to-peer rental networks yourself. Your insurance policy may cover damage to your personal possessions that occurs outside your home, but it may not cover damage to your home caused by someone renting from you.