Insurance for Tenants
As a tenant you may think that you need not worry about insurance for the property which you are renting.. Any damages to the property will be covered by the landlords insurance. But what about your belongings? Will the landlord insurance cover it?
No. The insurance that your landlord has for the property covers only the structural part and the fixtures and fittings of the property. To protect your belongings inside the house, you need to have tenants insurance.
What Does Tenants Insurance Cover?
The tenant’s insurance policy cover varies from one insurance provider to another. Therefore, when selecting a policy, you should make a list of valuables and other contents that you wish to secure and ensure that the policy you choose covers them. Usually, tenant’s insurance covers your contents from damage due to
- Fire accidents;
- Theft or burglary;
- Damage to contents due to natural calamities like storms, earthquakes and bush fires.
Make sure you choose the right policy and you will not have to bear the burden of loss entirely. Most insurance companies will repair or replaces your damaged or broken contents within 24 hours, to prevent any kind of inconvenience.
Professionals Can Help
Are you a first time tenant? Need help finding the right tenant’s insurance policy that meets your requirements and budget? Professionals Real Estate can help you. Talk to our experts today for more information.