If you are thinking about renting out your duplex or your standalone residential unit to some tenants, then you should give a thought about getting it insured. Your residential unit might be a semi-furnished or a fully furnished one & irrespective of this fact you must seriously consider insuring it as during a burglary or fire or water-related accident your assets could suffer some significant damages. Here are some pointers about renters insurance that you should keep in mind:
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1. The insurance will apply to the exterior of your house
Renters insurance has plans that cover most of your personal belongings & in case your assets get stolen, or damaged renters insurance will reimburse you.
Some policies cover the total cost of your belongings in their reimbursement while some other plans pay only half the original price of your belongings. However, even the most basic plans offered by the insurance companies cover almost all of your belongings no matter how much they reimburse.
In addition to these basic plans, insurance companies also offer advanced and premium plans that cover your belongings even if you take them out of your home. The main focus of these plans is the items for which you are paying the insurance premium.
Make sure to check if your renter’s insurance covers theft as most companies that provide renter’s insurance in Lake Charles cover theft as an option. There are theft plans that pay for reimbursement, even if the theft has taken place in your car. So, if your personal belongings such as your laptop or your purse get stolen from your car, then also you are liable to get the reimbursement from the insurance company. But the insurance company will not pay any damage done to your vehicle. For this purpose, you will have to contact your car insurers.
2. Add additional cover for your valuable belongings
In case you have some valuable belonging like your precious engagement ring or the mirrorless camera you bought for a whopping amount, then you should get them covered in your insurance plan. You can add such valuables in your current plan and get them covered at an additional fee. This will give you peace of mind and will always cover the losses in case any tragedy happens to these valuables.
3. Renters insurance protects you
Renter’s insurance covers not only your rental unit and the belongings but also any injuries caused in your house. In case a guest visiting your home is injured while tripping down the stairs and you are found to be liable for their injuries then you would be required to shell out a massive amount of money as compensation. Renter’s insurance can help you in such conditions to settle the bill in small amounts.
Also, if you have pets, then you are no stranger to pet bites and accidents. Having renter’s insurance will cover the injuries caused due to your pet; There are several companies that provide the same in Lake Charles. The insurance covers the medical bills of the injured party. However, there are some exceptions to this insurance as not all breeds of pets are covered in such insurance covers. Be sure to check out the breeds and animals covered in your insurance premium.
Another significant benefit of having a renter’s insurance is if you have kids at home, then they are sure to cause some mishaps. Maybe your baseball influenced son can cause some damage to your walls or throw a ball through the neighbour’s window. In such cases, this insurance will come to your rescue.
There are also several other scenarios where renter’s insurance will help you out. Make sure that you thoroughly check all these with a renter’s insurance company in Lake Charles, LA.