Most Boise, ID renters often think that their landlord’s insurance coverage will cover their possessions, but that isn’t the case. The landlord’s policy is designed to cover the building itself – it may not protect your personal belongings or cover injuries you or your guest might sustain within the structure. This is where the renter’s coverage from Fuhriman Insurance Agency comes in.
A renters insurance plan protects your personal property in a rented home, apartment, or condo from unexpected circumstances. Your carrier will pay you for damaged or lost possessions. This policy can also protect you from liability if a person gets injured on your property. Renter’s coverage resembles a homeowner’s insurance policy, with the exception that it doesn’t offer coverage for the house itself or other structures.
How it works
When you suffer a covered loss in your rented space, your renter’s coverage will help to cover the expenses. The amount you will get normally depends on the loss you have incurred and the coverage amount you have. Note that there are two main coverage options under a standard renter’s policy: Replacement Cost and Actual Cash Value plan. The Actual Cash Value plan will pay you for the exact value of the possessions at the time of loss or damage while the Replacement Cost plan will cover the expenses for replacing the damaged or lost items.
What will renters insurance cover?
This coverage protects the destruction or loss of your personal belongings when a covered risk occurs. This may include risks like theft, hail, vandalism, lightning, fire, windstorm, or a frozen plumping system. You can always get additional coverage depending on your needs, so talk to your insurance agent first.
If you are searching for a renter’s insurance policy in Boise, ID, contact us at Fuhriman Insurance Agency. We will help you get a coverage that’s designed to suit your requirements.