A fire could ruin all your belongings!
Washington renters insurance is not usually the first type of insurance we consider when we look at protecting our property. Car and health insurance are normally the first that spring to mind. When you rent your home and particularly if you have valuable personal property, renter’s insurance is a necessity if you don’t want the expense of replacing your own possessions when they are damaged by fire or stolen.
As a renter, your landlord’s insurance won’t generally cover you for loss or damage of your personal property. The landlord’s policy will cover damage to your roof by a severe thunderstorm but usually will not cover water damage to your personal property. Renter’s insurance can also cover you for liability costs if someone injures themselves at your house.
There are different types of renter’s insurance available and you will need to know the difference between a policy which pays ACV (Actual Cash Value — payment according to the estimated value of the property at the time of the loss) and Replacement Cost (covers money that needs to spent to purchase new replacement goods). Your premiums will depend on the type of coverage and worth of the property to be covered.
To discover more about Washington renters insurance, contact one of our agents who will be able to provide more information about coverage to suit your needs and arrange quotes for the coverage you need. With Homer Smith Insurance, you can get the coverage you need for your rented property. Contact us today for more information!