When we say Renters Liability Insurance, we talk about a type of insurance that suits individuals who are renting an apartment, house, townhouse, room, condominium or any dwelling space. It is an often misconception that for a lessee to assume that their personal properties are covered by the insurance of their landlord. Most often than not they get to know that they are wrong in their assumption when everything is too late.
When they have lost their property in a fire or windstorm or maybe they have encountered theft. Then they only have themselves to blame, it’s a small price to pay for the replacement of their valuable items. It is very important for you to know and to correct the wrong notion about your landlord's insurance covering your personal property. The insurance of your landlord only covers for the building itself and not the contents of the building. You may navigate to Insurance Frisco for buying Homeowners insurance.
There are two standard types of renters insurance. The first one is standard renter’s insurance policy that covers damage or losses of your declared personal properties or listed valuable items against from perils such as theft, fire, windstorm, and hailstorm.
Earthquake and floods are generally excluded from the coverage unless you get a rider or a separate coverage for these types of perils. The policy also covers you from additional living expenses that you may have. The claim for this one is actually filed when your rented space or house becomes unliveable or is being repaired because this means that you have to rent another space or hotel while waiting for it to be fixed.