Does Renters Insurance Cover Property Damage?

We all need Financial Protection; whether we own a home, a condo, or rent an apartment! When tragedy strikes, it is great to know that your insurance company has your back!

Renters Insurance offers protection for you and your belongings when struck by a covered peril; for instance, Fire, Lightning, Wind, Water Damage etc… (review the covered perils on your specific renters insurance policy).

The most financially damaging occurrence for those renting a house or an apartment may not be the obvious; it would be much easier to replace a damaged couch, dining table or television than it would be to recover from a law suit alleging bodily injury or property damage due to your negligence. Whether the case has merit or not, you will need defense and perhaps assistance with settling the case.

Property Damage may be caused due to negligence by the tenant in way of an action causing water damage, smoke damage or a fire.   When a rental unit is damaged following a loss, the first question asked once the dust settles is: ‘Does The Tenant Have Renters Insurance?‘.  The Landlord’s insurance company will seek subrogation of covered damage under the policy; whether the subrogation is by filing a claim against the tenant’s insurance policy or seeking financial reimbursement from the tenant; this can result in judgments and collections for many years to come.

Renters insurance policies are relatively inexpensive and offer many forms of coverage in addition to property damage and personal contents coverage. Whether the Landlord requires the tenant to carry renters insurance or not, the only responsible option is to protect yourself!

This inexpensive form of insurance can be quoted and purchased directly online:   FREE Renters Insurance Quote Now