At The Merhar Agency LLC, we hear lots of misconceptions about any renters don’t need insurance. One is because the landlord has insurance. But your landlord’s insurance doesn’t automatically protect you from injury or liability.
What Does Landlord Insurance Cover?
Landlord insurance covers the rental unit and items the landlord owns. The home, apartment, duplex, townhouse, loft, condominium, or penthouse walls, ceiling, floor, and exterior have protection through landlord’s insurance. If the rental unit comes with furniture and appliances, it protects those items, too. If a covered event, like a fire, damages the structure or the furnishings inside it, your landlord’s insurance will cover it. However, if the damaged property is yours, your landlord’s policy won’t apply.
What Does Renters Insurance Cover That Your Landlord’s Insurance Doesn’t?
A renters insurance policy protects your belongings and liability if someone is injured or suffers property damage while visiting your home. While landlord insurance has similar liability coverage, it protects your landlord’s liability in a lawsuit, not yours. Renters insurance has seperate medical coverage should an injury be severe enough to warrant a hospital visit and treatment. Renters insurance protects your belongings from theft, fires, and other eligible perils. Furthermore, it provides coverage for temporary housing, food, laundry and other living expenses if the unit is damaged due to a covered event.
Our agents at The Merhar Agency LLC know that landlord insurance protects the landlord. What we want to emphasize is that you need a policy that protects you, hence renters insurance. Our partner carriers have renters insurance policies and available add-ons that will protect you, your guests, and your belongings. Contact us for more information. We’re currently serving Willoughby, OH.
