Even if your landlord has an insurance policy on their property, that policy is unlikely to protect you in the event of a major loss. If your apartment or rental home is damaged, rental insurance will pay for you to live somewhere else while repairs are being made. If the damage renders the unit completely uninhabitable, your policy may cover the cost of relocating. Rental policies also pay to replace stolen items or repair damaged items.
Personal Property Insurance
Your homeowners insurance or rental insurance may not cover every item in your home. For example, some policies only cover jewelry up to a certain amount, meaning you may need to purchase additional coverage. Personal property insurance covers things like cameras, musical instruments, hearing aids, wheelchairs, collectibles and fine art, among other items. Even better, the coverage follows you when you’re traveling, so your policy may pay to replace a watch stolen during a business trip or a camera damaged during your vacation.
Other Types of Property Insurance
Landlord insurance protects landlords against a wide range of losses, including equipment breakdowns, HVAC systems and personal property used to maintain a rental. This type of policy may also replace a landlord’s lost income if building damage interferes with rental operations. Manufactured home insurance pays to replace a manufactured dwelling and any accompanying structures under certain circumstances. It may also cover loss of use, personal belongings or additional living expenses.
Boost makes it easy to compare quotes for homeowners insurance and property insurance. Call (855) 616-0187 to discuss your insurance needs.