If you’re on a budget, renting a home in Kentucky may be more practical for you than buying. If you decide to rent, don’t forget to factor in renters' insurance to protect your belongings. At Carpenter Insurance Group, we’ll help you assess the value of your goods so you can choose adequate renter’s coverage. Here’s what renter’s insurance in Kentucky has to offer.
What Renters Insurance Covers
Like many renters, you may think you have protection under your landlord’s policy. If your landlord has insurance, it’s to protect his building, not your personal property. In contrast, renters insurance is specifically designed to protect your belongings. Here’s what a basic renters policy covers:
- Property – Property coverage protects the personal goods you brought into your rental home. This includes your clothes, shoes, electronics, furniture, kitchen appliances, sports gear, and other items. If these goods are stolen or damaged in a covered peril such as fire, storm, vandalism, etc., property insurance will help cover their repair or replacement cost.
- Liability – Accidents are always a risk when you have visitors to your property. Liability insurance protects you against accidents by paying for your visitor’s medical or property damage costs. Liability covers such accidents as slip and falls, injuries caused by tripping, kitchen burns, accidental food poisoning, dog bites, and sports injuries from romping in the yard. Liability insurance also protects you against a lawsuit if you are sued for damages.
- Additional Living Expenses – If your rental home is damaged in a disaster and you have to live elsewhere while repairs are made, this coverage reimburses you for extra expenses like hotels or meals out that you incur while you’re away.
Who Can Benefit from Renters Insurance
All renters in Kentucky can benefit from the protection that renter’s insurance has to offer. With renter’s coverage, you can be prepared for unforeseen events that can lead to financial loss. To purchase your renter's policy, contact Carpenter Insurance Group today.