Renter’s insurance can save tenants in Charlotte and Waxhaw, NC a lot of money if personal belongings are stolen, vandalized, or damaged by a natural disaster. Unfortunately, this type of insurance does have limits. Before filing a claim, you’ll want to know what is and isn’t covered.
Personal Belonging Coverage: What to Expect
Renter’s insurance compensates if your personal belongings are damaged or destroyed as long as the disaster is covered under your policy. You’ll also get liability coverage. For instance, the renter’s insurance covers medical and legal costs if someone is injured on your property. This means you don’t have to sell valuable belongings to pay those bills. However, some types of belongings aren’t covered under your policy. Personal vehicles aren’t covered under the renter’s insurance. Instead, they’re covered by your car insurance policy. If you run a business from your residence, any business-related items or products you store at home are likewise not covered by this form of insurance. Rather, you’d need business insurance to compensate for the loss of such items.
Furthermore, all renter’s insurance policies have coverage limits. If you own valuable collectibles or antiques, you’ll need to purchase coverage designed to compensate for the loss of costly items.
Find Out More from Hausmann Insurance & Financial Services
Hausmann Insurance & Financial Services has offices in Charlotte and Waxhaw, NC. Our team specializes in helping renters review insurance options and choose a renter’s insurance policy that meets their needs and budget. If you’re new to the area or looking for a new policy, call us at your convenience. We’ll answer your questions, review your options, and provide you with policy quotes.
