1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    A renters insurance policy will typically provide coverage for your personal property less your policy deductible in the event of a covered loss ( fire, smoke, and lightning to name a few). Liability coverage is normally also part of the policy that may provide coverage in the event that someone is hurt while in your rented premise that you are deemed responsible for. Remember every policy is different. Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you.
    Answered on September 18, 2013
  2. 617 POINTS
    Waltere Koti
    Principal Agent, First Insurance Agency Inc, United States
    If you apartment was on fire and all your personal belongings were gone, where will you stay temporally? Renters insurance will provide you with temporal hotel accommodation.
    If you were having a party at your apartment and one your guest slips and falls on your wet kitchen floor and breaks their hip and ambulance came took them to hospital and the medical bill is $28,000 . Now who do think is responsible for that? YOU my friend!
    Let say you loaded you car with your personal stuff worth say $5000 going on vacation to Florida . You car overheats at point and caught on fire and both your car and its content are gone. Assuming you have physical damage insurance on your car, your car insurance company with replace the fair market value of vehicle minus any applicable deductible. They will not replace your vehicle content of $5000. If you had renters insurance for your apartment , they will cover your personal stuff in vehicle.
    Answered on June 19, 2015
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