Most landlords in the Collierville, TN area will require tenants to carry a renters’ insurance policy. As a renter, it is essential to understand what is covered under the policy. If you have questions about your renters’ insurance policy, reach out to an agent at Brock and Poole Insurance Agency today. 

Personal Property

Many renters assume that their landlords’ policy will cover damages to personal property in the event something happens to the building; however, that is not the case. Renters need an individual policy to cover personal property. A landlord’s policy will cover damages such as drywall in the event that a pipe bursts; however, as a renter, you would be responsible for your personal property such as furniture, computers, and clothing. Renters insurance will also cover your personal property in the event it is stolen. 

Personal liability and medical bills

In the event a third party is injured in your home, a renters insurance policy can assist. It will cover the medical bills of the injured party as well as the costs of defending yourself in court in the event a third party sues you. 

Living costs 

In the event you are forced to leave your rental because it is uninhabitable due to a fire or other disaster, a renters’ insurance policy will help. The rental policy will help cover the costs of a hotel and food while you are displaced. 

There are some types of claims that a renters’ policy will not cover.

              High-value items: If you own expensive jewelry or art, you will need to add additional coverage to make sure they are covered in the event they are damaged. 

              Damage caused by pests: If mice, bugs, or vermin damage your property, it will not be covered under your rental policy. 

If you are interested in renters’ insurance policy, reach out to an agent at Brock and Poole Insurance Agency. We proudly serve the Collierville, TN area. 

Renters insurance is something that many people have little knowledge about or experience with when they should. Renters insurance can help you recover from disaster, even if the accident is not your fault but your unit and items are damaged. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you find the right renters policy for you.

Renters insurance is something that works to protect renters should their rental unit or property become damaged or destroyed. If you do rent, you are not eligible to have a home owner’s policy and are therefore susceptible to having to pay damages if you do not have some sort of policy in place. Without a renter’s policy, you are going to have to foot the bill to replace your items, may have to pay for damages to your landlord, and will have no help when it comes to finding another place to stay.

Renter’s policies work to help make sure you are going to be covered should your rental property become damaged or destroyed along with your personal belongings. With a renters policy you are going to be able to draw on your policy to help pay damage deposits to your landlord and are going to be able to use it to get a place to stay temporarily as well as having the money to replace the items that were either damaged or destroyed. For those that live in the Collierville, TN area, the agents with Brock and Poole Insurance Agency can help you determine if a renters policy is right for you and what type and level of coverage you need to make sure you are fully covered. A renters policy is certainly beneficial, get yours today to make sure you are covered.