Why all renters should have renters insurance

As a renter in Elmira, NY, you might think there’s no need for you to have renter’s insurance. It’s easy to assume that your landlord or management company provides adequate coverage. However, they only have insurance that protects their property, not yours. At Stewart Agency Inc., we are independent insurance agents highlighting the necessity and benefits of renters insurance.

Content Coverage

Although you’re not responsible for insuring the physical building, a significant number of your assets are likely located within your rental unit. Imagine a disaster causing significant damage or total loss to your rental. Visualize losing all of your possessions. Could you afford to replace everything on your own? Consider this: all your furniture is gone, and all you have left are your clothes. Your computer, games, appliances, and dishes – all gone. The amount of money required to replace everything could be overwhelming. Renters’ content coverage provides financial aid to help you replace the things you need.

Liability Coverage

Contrary to common belief, your landlord does not bear all the liability at your rental. If, for instance, a child is injured by your equipment, it falls upon you. If your dog bites someone, you’re responsible. If your child breaks someone’s window, you’re responsible. Hence, having liability coverage is important for every tenant.

Loss of Use

If your rental suffers significant damage due to a covered peril and you need to vacate temporarily, this coverage steps in. It helps cover the cost of your temporary accommodation and potentially even some meals.

If you have any questions about renters’ insurance, don’t hesitate to contact Stewart Agency Inc. in Elmira, NY.