As a renter in PA, you are wise to secure renters insurance, regardless of what your rental living situation is like. In any situation where you rent the space where you live, you are solely responsible for protecting your property with insurance coverage.
Many people assume that their landlord’s homeowner’s policy will provide coverage for not just the building but also everything within it. In fact, the homeowner’s policy held by your landlord will protect only the physical structure of the home itself in cases where a renter is living in the building.
A renter’s insurance policy is designed to cover all of your personal possessions. Generally this will cover all your property of nearly any type (for example clothes, furniture, books, electronics, and jewelry) but will it will exclude vehicles (for example, if you have a motorbike inside your rental home it needs to be covered by a separate auto insurance policy.)
There are a number of ways in which your property might become damaged or your property could be destroyed or stolen. Renter’s insurance will cover the great majority of these circumstances. While renter’s policies do vary from company to company and from one policy to another, most of them will cover perils such as:
- Fire damage
- Lightning damage
- Wind storm damage
- Ice damage
- Damage due to explosions or explosion debris
- Smoke damage
- Vehicle damage (if not caused by your own vehicle)
- Electrical system malfunction damages
- Damage due to water leaks
In most renter’s policies, there are also other specific types of loss or damage that will be covered. It is important that you review your policy fully with your agent to gain the best understanding of your coverage.
It’s easy to find the best coverage for your budget by comparing insurance quotes with Saucon Insurance Agency! We are available online or by phone to give you policy quotes and answer questions anytime.