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Renters Insurance - Home Insurance of the Tenant

Man is essentially a defensive animal and wants to be sure of his tomorrow. Security is by far the most important need of a man. This urge for safety of tomorrow has given rise to a multi-billion dollar insurance industry. All that could be insured against loss has been insured. Be it life, house, health, pets or business. Including home contents. For a person living in his own house, there is a homeowners insurance that covers the loss of the building and its contents.  What if you are living in a rented house or a condo? Well, you have a Renters Insurance.

While homeowners have realized the importance of home insurance, those who rent still believe that they do not require an insurance, as the building is covered under owner’s home insurance. Well, it only covers the structure that they live within, not their private processions. Renters insurance is just as important for a person who rents a home or an apartment, as home insurance is for a home owner. So whether one rents a home, condo, townhome, or a loft, one requires renters insurance to protect the belongings.

Typical standard renters insurance covers the following:

- Damage caused by vehicles
- Windstorm
- Fire, smoke, or lightning
- Vandalism or malicious mischief
- Damage due to any falling object
- Water leaks due to accidental bursting of a pipe, or due to a plumbing fault
- Riot or war

A mature insurance industry has ensured that there are multiple options for the tenant to buy a suitable renters insurance. When you buy a renters insurance, find out if the company mentions the "actual cash value" (ACV) or "replacement cost coverage." While ACV coverage pays for what the property was worth at the time it was damaged or stolen, the replacement cost will pay for what it actually costs to replace the items that are damaged. Also, it is useful to ensure that the Additional Living Expenses are taken care by the insurance. If the house one is living in is uninhabitable due to any reason covered by the policy that one has, the renters insurance will cover any additional living expenses, meaning the insurance company will pay for any expenses occurred to stay somewhere else. Affordable renters insurance is not very tough to find. In fact, one can easily get renters insurance for a sum of just $10-20 a month, just a little over what a meal at one’s favorite restaurant would cost. helps people looking for renters insurance coverage receive quotes from multiple insurance companies online. One needs to fill in a simple form with details about the property and the coverage required to get contacted by local insurance agents. Since there are many companies competing for the business, customer is usually benefited by competitive prices. has partnered with some of the leading insurance companies such as State Farm, Allstate, and Nationwide. Qualified and trained agents are also available to resolve any doubts that one may have.

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