If you own the house you reside in, then having insurance might seem like a no-brainer, but what if you rent your home? You might not own the house or apartment, but you own everything in it, and protecting your livelihood can hinge on a comprehensive insurance plan. Conversely, if you own a home and decide to rent it out, then your original homeowner’s policy won’t sufficiently protect you under the changing circumstances. Since what you don’t know actually can hurt you, your Carrollton insurance agents explain the tenets, and the importance, of rental owner’s and renter’s insurance.
I Rent My Home. Do I Need Insurance?
Yes, yes you do. It took you a while to amass your personal collection of things, from your expensive home theater system to the eccentric knickknacks you’ve collected over the years, and everything in between. Just because you rent the property doesn’t mean that your landlord’s coverage will protect you; it’s aptly designed to only protect the landlord and his/her property. If the house or apartment is damaged by flooding, fire, or some other natural disaster, then you may lose everything that you thought was protected by your landlord’s insurance policy. One of our highly-experienced agents will consult with you to determine your exact needs according to your specific situation, and device a renter’s insurance plan that offers the best protection for you and your valuables.
I Own Rental Property. What Insurance Do I Need?
Home insurance makes your house safe from unforeseen dangers. Your coverage should include the physical structure of your home, the contents inside of it, and liability in case someone is injured in your home. It might also include the cost of repair and living expenses in case you have to leave your house because it’s destroyed or threatened by a natural disaster. However, all of that coverage is void once you vacate your property or rent it out to another party. By adding Dwelling Fire Coverage to your plan, you can protect your rental property from things you can’t control while you’re not living there. Despite its name, Dwelling Fire Coverage protects you from more than fire damage, and can also include coverage if someone is injured on your property.
About Your Carrollton Insurance Agency:
With over 20 years of experience in the insurance industry, Jeff Van Matre Insurance Agency can help you choose the right coverage plan to protect your personal and business assets and put your mind at ease. To learn more about optimizing your insurance coverage, visit us online or call 972-492-8500 today.