Does renters insurance include loss of use?

Renters insurance provides valuable living coverage for your home and property against damage that can occur from various unexpected events. Protecting your belongings is incredibly important and should be a part of everyone’s basic financial plan, regardless of their financial situation. That’s why our agents at Hyman Brown Insurance Agency Inc. understand that no matter what size apartment or house you own or rent, you deserve the protection of renters’ insurance.

It is vital to protect your personal property with a comprehensive insurance coverage plan. Whether you are a student living in an apartment or a homeowner that rents out their basement in Commerce, GA, renters insurance is essential.

What is covered under renters insurance?

Renters insurance provides financial protection from specific losses to personal possessions and additional living expenses resulting from damage to the rental property caused by fire, lightning, windstorm, or similar causes, vandalism, and theft.

Whether you live in a house or a condominium, renters insurance is an affordable and comprehensive way to protect your most valuable assets. Your belongings are protected against theft and covered if they’re damaged. Plus, renters insurance covers losses that aren’t physical-like liability protection or the cost of hiring a lawyer to get your things back.

Renters insurance provides coverage for having your home destroyed by fire and other covered hazards. Your policy may also cover you if someone is injured in your home, stolen property, or if a hurricane and other named storm damage your belongings. You’ll also receive protection for living expenses if your home becomes uninhabitable due to a covered loss.

Does renters insurance include loss of use?

In Commerce GA, a basic homeowners policy generally provides coverage if your home is damaged and uninhabitable. The insurance limit is the less rebuilding cost or market value. A basic policy covers personal property kept in or around the home, up to certain limits. A basic policy does NOT include loss of use/rental value and living expenses insurance. That would be a separate extension of coverage, also referred to as an endorsement.

For more information about what renters insurance does and does not cover and for advice about additional coverage for your belongings, call an agent at Hyman Brown Insurance Agency Inc. in Commerce, GA today!