Most renters don't see the need for renters insurance because they assume that their landlords are responsible for any required insurance coverage. However, landlords will sometimes require tenants to take up an insurance policy to cover liability issues and their personal belongings within the building. Risks such as fire, theft, vandalism, water damages, and much more can destroy or damage your personal property or cause injuries in your house.
After such a loss, your household budget strains may limit you from recovering from the financial effects of losing your personal items. That is why renters insurance is very important. It will cover any liability claims against you and personal property damage as well.
Renters Insurance isn't a Louisiana state requirement. Nevertheless, it will protect your valuables and any lawsuits you may face in case of negligence. Atlas Insurance Group in Louisiana provides the following renters' insurance options:
- Personal property coverage: This covers your personal belongings after a covered peril damages or destroys them. Make sure speak with an agent to make sure your more valuable belongings are covered under this policy.
- Loss of use coverage: When a covered loss leaves your house uninhabitable, this coverage will take care of any extra living expenses you may incur while finding a temporary residence. This often takes the shortest time possible for repairs to be completed.
- Liability coverage: This caters for property damage and compensations for bodily injuries caused to third parties if the accident was your fault. It also takes care of any claims against you or lawsuits.
- Medical payment coverage: This will take care of small injuries towards a guest when liability cannot be ascertained. It's more of compensation than a claim. This might help to avoid lawsuits.
However, some risks are not covered by the renter's insurance. They include flood, hurricanes, windstorms, and earthquakes. You would have to take a separate policy for these risks.
Our professional agents at Atlas Insurance Group in Louisiana will help you understand which coverage options are necessary for you. We offer affordable renters' insurance policies that will help you get some peace when such risks occur. We also provide guides and advice on any insurance issues you may have. Contact us today and get an insurance policy.