At Russ Richardson Agency serving the greater Birmingham, AL community, one of our focuses as an insurance agency is providing renter’s insurance to tenants so that they can protect their rental apartment or home from a range of common issues that renters face. While every renter’s insurance policy is different, there are some general frequently asked questions that our agents answer often.
To make it easier than ever to know whether renter’s insurance might be right for you, we’ve answered those questions below.
What Is Renter’s Insurance?
As the name implies, renter’s insurance policies protect rental properties. From rental houses to apartments to townhomes, renter’s insurance covers a range of different types of units. The main thing that differentiates renter’s insurance from similar policies like homeowner’s insurance or condo insurance has to do with the relationship that the policyholder has with the property. By nature, renter’s insurance policies are held by tenants who are renting a space. If someone owns a property and rents it out to tenants, he or she would want to obtain landlord’s insurance instead of renter’s insurance.
What Does Renter’s Insurance Cover?
While every renter’s insurance policy has specific terms, we can speak to general things that renter’s insurance policies might cover. On average, renter’s insurance may protect the rental unit against damage and liability. It may also protect the belongings inside the unit from theft. For specifics, you can refer to your specific renter’s policy for more details. Renter’s insurance policies have terms and limits like any other insurance policy. You might share one with a roommate, or every housemate may hold a policy. Some leases require landlords’ insurance, as well.
Contact Us Today
If you’d like to protect your rental unit as a tenant in Birmingham, AL, call our office at Russ Richardson Agency today!
