What is renters insurance and what does it cover?
Renters insurance covers loss of personal belongings. Home owners insurance covers the actual home or apartment, but personal property is left uninsured. Beyond personal property, renters coverage can also include protection against lawsuits or medical bills in case someone gets injured at your residence. In some cases renters insurance is required, although this is not too common. How do I go about getting my property back if I have renters insurance? Renters insurance can reimburse for lost property in a couple of different methods. Deductibles imply a specified amount to for the insured to pay with the insurance company paying for the rest once that price point has been met. Replacement Cost Coverage pay for what it costs to replace the items and those insured get the money once they have purchased the replacements. Although, there is normally a limit on amount received. Actual Cash Value pays an for what is lost minus the depreciated value. Does a renters insurance policy cover my