Pennsylvania Renters Insurance coverage

Renters InsuranceRenters Insurance

If you are renting an apartment, townhome, condo, duplex, home, or even just a room from someone, renters’ insurance is something that you may consider having. Here at Moore Insurance Network, we can help you purchase a renter’s insurance policy to cover you at your residence in the state of Pennsylvania. Here is what you need to know about renter’s insurance as a renter.

Do You Need Renters Insurance?

One of the most common myths out there is that homeowner’s insurance covers a renter's belongings. This is not true. The owner of the home you are renting is not responsible for your belongings in the event of theft, fire, flood, or other catastrophes. A renter’s insurance policy helps to cover your belongings if they are damaged or go missing. This type of policy also helps to cover the cost of housing or hotels that you may incur if you are unable to live in your rental due to an unexpected event.

What Factors Do You Need to Consider When Buying Renter's Insurance?

When you are looking to purchase a renter’s insurance policy, you need to pay close attention to many different factors. It is essential that you consider the coverage limit. You want the coverage limit high enough to cover the value of your belongings. Also, pay attention to what may be included and what is excluded. For example, fine art or expensive jewelry may not automatically be covered. Also, pay close attention to what events are covered, such as flood or theft. Lastly, carefully look at what the deductible on the policy is. This is the amount you have to pay out of pocket before your insurance pays out.

Every renter should have renter's insurance. If you do not have a policy or are looking to purchase a new policy, Moore Insurance Network, serving the state of Pennsylvania, can help you. Visit our office today to learn more about getting a new renters insurance policy.