If you rent your home, you can help protect yourself and your belongings with renters insurance. Renters insurance is a form of property insurance that may help cover personal property losses and protect against liability claims. 

What Does Renters Insurance Cover? 

 

Renters insurance typically includes the following three coverage components: 

1. Personal possessions coverage may help replace or repair possessions damaged due to a covered event, such as theft or fire. 

2. Liability protection coverage may help cover lawsuits for bodily injury or property damage for which you or your family members are responsible. Your policy may also include no-fault medical coverage, which can help pay for medical bills if someone is injured on your property, no matter who is at fault. 

3. Additional living expenses coverage may help if you cannot live in your home temporarily due to a covered incident, such as a burst pipe. 

Why You Need Liability Insurance as a Renter 

 

Liability insurance is a critical component of renters insurance. It may help pay for another person’s medical bills or repairs to their property if you’re found legally responsible for their injuries or damages. Renters liability coverage may also help cover legal expenses if you’re sued over an incident that occurs in the place you are renting.  

The following are a few examples of situations that renters liability insurance may cover: 

• Falls and injuries in your home
• Damage that originates in your home and affects others’ property, such as a fire
• Damage to a third party’s property, such as your child throwing a ball through a neighbor’s window
• Liability related to a social event you host 
  

How to Choose the Right Renters Insurance Coverage 

 

Choosing the right renters insurance coverage for your needs can be challenging, but McKinney Insurance Services is here to help. Contact us today to learn more about renters insurance.