Renters insurance Mill Valley
In the event of the worst case scenario, renters insurance provides coverage for your personal property and yourself. Tenants in Mill Valley are not responsible for insuring the building, but they do need to insure their private possessions against theft, vandalism, injury, water or fire damage, and other unforeseen catastrophes.
The 6.0 magnitude earthquake that struck Napa Valley on Aug. 24 caused an alarming amount of damage in Mill Valley, both to property and personal valuables. Most people did not have insurance coverage for seismic disaster, and in the face of financial ruin, are now investigating the benefits. Call Allied Restoration Company on 415-529-5637 to see how you qualify for premium discounts.
So, what coverage will you get when you purchase a renters insurance policy?
Personal Possessions
According to Esurance, renters will be able to replace their belongings, or have some help doing so, after an event occurs that is covered by the policy. One of the biggest advantages of renters insurance is that you are protected from theft elsewhere as well, regardless of where you are, provided the stolen item is included in your insurance contract.
Personal Liability
If someone is injured in your rented home, or if you inadvertently hurt someone, legal costs will be covered by the liability clause in your renter’s insurance policy. This includes anyone else that you have added to your coverage, but there are often limits, depending on the insurance company. When obtaining a quote, read the fine print on personal liability.
Medical Protection
Should one of your guests accidentally injure themselves under your roof, a portion of their medical costs are covered by your renter’s insurance policy. Unfortunately, this does not include injury to yourself, or anyone living in the same household. Once again, know the limits stipulated in your contract.
Property Damage
Your policy offers you protection wherever you are. If somebody else’s property is unintentionally broken or destroyed completely by you, your coverage will aid in replacing it for them. If other family members do the same, they are protected as well, but only if they are listed in your policy.
Extra Living Costs
Should your home be damaged and you need to stay somewhere else, your rental insurance will pay for these costs up to a limit. This is usually specified in your policy, and is otherwise referred to as “loss-of-use coverage”, “relocation expenses” or “additional living expenses.” Make sure that you are aware of what these limits are.
The Insurance Information Institute reports that only 31 percent of tenants are covered by renters insurance. While protection does not include flood or earthquake damage, it protects individuals from other unforeseen events. Insurance coverage in Mill Valley is certainly worth considering, especially with the high rate of threats people face to their personal belongings. To find out how to protect your valuables from the elements, call Allied Restoration Company on 415-529-5637.