Category: Renters Insurance

Renters’ insurance is similar to homeowners’ insurance in that it provides coverage for a renter’s belongings. It also provides coverage for personal belongings, theft, and vandalism. Renters’ insurance provides liability coverage as well. Renters’ insurance provides peace of mind for tenants by protecting their belongings. Our Spokane, WA team at Capital Insurance is invested in helping renters understand the benefits of insurance and get the coverage they need.

How does renters’ insurance work?

Renters insurance provides financial compensation for damaged and stolen belongings. The renter pays a monthly fee to maintain his or her insurance policy. If a personal item is vandalized, stolen, or damaged, the renter files a claim to be reimbursed for the vandalized, damaged, or stolen item. However, your loss must be covered by your renter’s insurance policy. As with any insurance policy, there are guidelines that outline what’s covered and what’s not covered. You are covered up to the maximum limits of your insurance policy, minus your deductible. Your policy’s limits are clearly outlined. Anything that exceeds the limits of your policy will not be covered. 

Will my renters’ insurance cover my roommates’ belongings?

No. Your renter’s insurance policy will only cover your belongings, although you live with your roommate. Your roommate must purchase his or her own insurance policy or be a policyholder on your renter’s insurance. Renters insurance is designed to cover the policyholder and his or her belongings only. However, if your roommate’s belongings are damaged as a result of something you did, the liability coverage may cover the damage. If you have more questions about renter’s insurance, call us at Capital Insurance in Spokane, WA. We’d be happy to answer all of your questions. 

Renters insurance is one of those things you don’t think about until it’s too late. Many renters may assume that as long as they don’t own the property, they don’t need to worry about covering their possessions. But Spokane, WA renters should be aware that renters insurance is an important part of protecting themselves and their belongings. Capital Insurance explains why.

What Does Renters Insurance Cover? 

Protect your personal belongings by investing in renters insurance. This type of coverage safeguards you against unforeseen events, such as theft, fire, or vandalism. It also offers liability protection should an accident occur on the property for which you are responsible and damages another person’s items or property. Some policies also cover living expenses if you are forced to temporarily relocate.

Renters insurance also typically covers medical payments for guests who are injured at your rented property due to your negligence or an accident on your premises. Lastly, some policies provide identity theft coverage and coverage for personal items while traveling outside of the residence. In short, renters insurance can provide peace of mind knowing that you and your belongings are covered in case of an unforeseen event.            

Why Is Renters Insurance Important?              

Renters insurance is important because it protects tenants from potential risks associated with renting a home. For tenants, it provides financial protection against damage caused by any incident related to their rental property such as theft, fire, or water damage. 

Give Us A Call

Renters insurance is an important element of being a renter in Spokane, WA as it helps protect tenants from potential losses associated with renting. Contact Capital insurance today so that we can get you the coverage you need.