If you rent your home, you won't be able to get a homeowner's insurance policy, but that doesn't mean you can't have insurance coverage. You should still consider purchasing a renter's insurance policy. Here are some of the top benefits of this type of insurance.
Protection from Theft and Vandalism
If someone breaks into your rental home while you are away, that loss would be covered under renter's insurance. Theft and vandalism is something often covered under homeowner's insurance, but this isn't possible when you rent a home. In most cases, the landlord is not going to cover your personal belongings. However, if you have a renter's insurance policy, you have some protection if someone breaks in to steal your electronics while you are on vacation.
Protection from Fire Damage
Renter's insurance can also provide you with extra protection against fire. If a fire occurs on your rented property, the owner of the property will likely have insurance for the building, but not for your belongings inside. It is very possible that anything belonging to you personally is your responsibility. However, you can get a renter's insurance policy that includes fire protection. This means you can get money to replace items that might get destroyed in a fire.
Self-Inflicted Damage Protection
You should also be aware that a renter's insurance policy often covers accidents, which can be known as self-inflicted damage. Even if the landlord has an insurance policy for things like water damage or fire, your personal effects won't be covered if it was due to negligence on your part. However, you can get a renter's insurance that includes this type of damage, which can help protect you. For example, a fire caused by a candle left burning is your fault, but more from negligence as opposed to starting it on purpose. The damage could be covered by your insurance policy.
Protection from Injuries
You should also get protection from injuries one of your guests might get. If you have a friend over for dinner and they trip over a rug in your front room, they could sue you for their injuries. This type of incident may be covered by your renter's insurance policy. The renter's policies often cover legal costs and medical costs of accidents that occur in your home that were not due to something you did wrong. This could be anything from the floor boards on your stairs being loose, causing someone to fall, to someone slipping on a wet floor.
To learn more about home insurance, contact a company like United Security Agency.