Renters Insurance Basics

If you’re a renter, your landlord’s insurance will only cover the costs of repairs if there is a fire or other disasters. In order to protect your belongings, you should look into renters insurance. Florida Peninsula offers several different types of property and liability coverages that can be tailored to fit your specific needs.

Property Coverage:

• Personal Property – coverage for personal belongings, for example, furniture, clothing, electronics, etc.
• Loss of Use – coverage for expenses beyond replacing physical and personal property. This would include the cost of renting an apartment while repairs are being made on your home.
• Loss Assessment – coverage for loss assessments charged against the tenant.

Liability Coverage:

• Personal Liability – coverage if you damage someone else’s property.
• Medical Payments – coverage if someone is injured on your property.

Florida Peninsula also has different deductible options for you to choose from.

• Wind Percentage – deductible offered at different percentages of the home’s insurance value. FPI offers this type of deductible at 2, 5 or 10 percent.
• Peril – This type of deductible is offered for $500, $1,000 and $2,500.

To determine which coverage is right for you and your family, speak with an insurance agent in your area.