home insurance coverage is often the first thing that comes to mind. However, homeowners aren’t the only ones who benefit from coverage. Anyone who rents their home is eligible inbuying renters insurance, whether they live in an apartment, condo, traditional house, or any other living space....
Flood insurance pays to repair the structure of your home and replace damaged personal belongings. Most home insurance policies don’t cover flood damage, which can cost you tens of thousands of dollars even if there's just an inch or two of water. To protect yourself financially, consider bu...
This could include structural damage to an apartment building where the renter is liable for damages. Though the landlord’s insurance will likely payout for damages first, they might recruit additional expenses from you. Often, some amount of no-fault medical coverage is included in renters insur...
each person must have their own policy. Most renters insurance companies do not allow roommates to share policies, as it can get messy when it comes time to file a claim. Purchasing your own policy as soon as you move into an apartment is important. ...
» MORE: The best cheap renters insurance Water backup coverage You may be able to add coverage for damage if your sink, toilet or other drain backs up, sending water gushing into your apartment. Pet damage liability If your furry pal can be a little destructive — think accidents on the...
Renters insurance may apply innumerous situations, depending on the endorsements that you add to your policy. It does not cover intentional loss or damage, but it can cover damage caused by other renters in the building. For example, if a fire starts in a neighboring apartment, renters insuranc...
Several variables are also defined for different types of properties: if an apartment has or lacks an elevator; if it is a townhouse; if it is a storefront; if it is a suite; if it is located in a business building; and if it is located in other types of buildings. A dummy ...
For example, if a pipe in the kitchen bursts and floods the apartment below, your renter’s insurance policy will cover the damage. What is not covered by renter’s insurance? Before taking out renters’ condo insurance, you should know what is not part of the policy to be prepared if ...
a sewer backup on your property causes water damage to a neighboring property or if someone slips and falls due to the resulting water or sewage. The costs associated with legal defense, settlements, or judgments can be substantial, but sewer backup insurance can help protect you from these pot...
That's where comprehensive auto insurance comes in. Comprehensive auto insurance covers damage caused by incidents other than a car accident, including theft, fire, vandalism, weather, falling objects and animal damage. It isn't required by law, but it may be a good idea depending on the ...