Renters Coverage That Follows You
Updated April 5, 2017 . AmFam Team
You may already know that renters insurance protects your personal belongings and even helps you out in the event you’re held liable for an accident on your rental property — but there is more to this affordable coverage than you may think. If you’re someone who is always on the go, whether it be for work or adventure, you need protection that follows you. Let’s see how renters insurance helps safeguard your dreams no matter how far from home they take you.
How Rental Insurance Works
Just because you don’t own your living space doesn’t mean everything you own isn’t worth protecting — even when you’re on the go. The coolest part about renters insurance is that it covers your personal property basically anywhere you travel. This means whether your destination is a short walk to a convenience store, a drive across town or a flight to the other side of the country, your renters insurance acts as an invisible shield around you and your possessions. However, there are limits to the coverage, such as limited coverage if traveling outside of the country , and that’s why it’s important to know exactly how you’re being protected.
So, Where Exactly Does Renters Insurance Cover You?
Let’s take a look at some common questions you might ask concerning renters insurance.
What does renter’s insurance cover at the place where I’m renting? Renters insurance not only helps protect your belongings should something happen to them from the unthinkable — like fire, theft, water damage, etc., but our liability and medical coverages will help pay for property damage, first aid, medical and court costs. Your agent will help you choose coverage that makes sense for your specific belongings, lifestyle and budget.
Does renters insurance cover my personal property when I’m on-the-go? Yup! Let’s say you bike to your favorite coffee shop to get some work done, and you momentarily leave your laptop unattended — giving someone just enough time to steal it. Your renters insurance has your back!
Does renters insurance cover my personal property I bring along while I’m on vacation? If you’re on vacation and someone breaks into your hotel room and steals your computer, perhaps a camera or even money, your renters insurance coverage will help you out. You’re also provided coverage up to 10% of your policy limits when traveling outside the United States.
Does renters insurance include liability coverage when I’m on-the-go, too? In many cases, you are protected by liability insurance when you’re out and about, but there are limitations and exclusions. This could be especially true for travel and if you’re going to be doing specific types of activities. The best thing to do is speak to your agent about what is and isn’t covered to determine if and when you may need extra coverage.
What if I’m traveling overseas? Will renters insurance work like travel insurance? Your renters insurance does not cover you the same way travel insurance does, but if you’re traveling overseas, your personal property has some coverage through your renters insurance policy. Keep in mind, the coverage is limited if you’re relying just on your renters insurance, and your belongings might not be fully covered in the event anything is stolen, broken or lost.
Travel insurance has useful extended coverage options that aren’t included in your renters insurance, such as trip cancellation fees, lost baggage expense, meals and accommodation for a delayed trip, trip reimbursement and even medical coverage.
Our advice? If you’re traveling out of the country, talk to your American Family agent about your options when it comes to travel insurance.
Understanding Your Coverage Limit
We mentioned coverage limits, but what exactly does that mean? Here’s a quick overview. Every renters insurance policy has a coverage limit, which means your policy has a maximum amount it will pay given you have any personal property or liability losses. How can you find out what your coverage limit is? It’s simple. Take a peek at your policy, or better yet, call up your American Family Insurance agent to get all the details you need. They’ll help you figure out just the right limit to protect what matters most.
Everything you own makes you uniquely you, and that’s worth protecting. Now that you know renters insurance protects you in more ways than one, what are you waiting for? Connect with your agent (Opens in a new tab) to get customized renters insurance that works for you on-the-go.
Related Articles
- 9 Steps to Create a Home Inventory for Insurance Claims
Your home is more than a roof over your head. It’s where your dreams grow, your family thrives and memories are made. But the possessions you keep inside are important, too.
Whether you’re renting an apartment or own your home, you’ve most likely got an insurance policy designed to protect your dwelling and the things inside. Should the unthinkable happen and you have to use that insurance policy, it’s important to have a plan in place. And a home inventory list is a great way to get started!
We’ll walk you through how to create a home inventory so — in the event of the unexpected — you’ll be more prepared and have a streamlined recovery.
What Is a Home Inventory?
Quite simply, a home inventory is a complete list of all the items, especially valuables, in and around your home. The best home inventories include photos, descriptions and dollar values of each of your belongings. The more detail, the better! It’ll help you provide a comprehensive list to your agent of items lost in the event your home is damaged or destroyed, allowing you to get the most out of your coverage.
When your describing the items in your list, remember that the more information, the better. Here’s a quick reference list of the type of information you should include in your home inventory list:
- An in-depth description of the items. For example, rather than writing down “diamond ring,” be more descriptive, such as: “an emerald cut diamond ring, with white gold shank, accent stones and initials inscribed below the bridge.”
- Make, model, and/or serial number of the items.
- Date of purchase, receipts and photos.
- Estimated replacement cost if you bought it today. Do note that the value of the items might be different today than it was when you first bought them. This is especially true with jewelry, and other valuables.
- Appraisals at time of purchase. Especially if your items were appraised for insurance purposes.
Why Do I Need a Home Inventory?
Whether you’re a homeowner or a renter, everyone can benefit from a home inventory!
If you ever have to make a claim, a home inventory is a great asset to have, especially after stressful events like theft, storm damage or a fire (take a look at how one renter used their home inventory after facing an apartment fire).
When you make a claim, you typically submit information on everything that was lost — which can be difficult to do off the top of your head for all your possessions. Remembering to replace your TV or computer are no-brainers, but when it comes to remembering each piece of jewelry in your jewelry box, things tend to get overlooked. Having a personal property inventory will help, along with knowing how to properly insure your jewelry.
When you have your home inventory checklist, you know exactly what needs to be replaced, and you’ll have peace of mind knowing your entire household is protected.
- Reasons Why a Roof Leaks
You’re admiring the rain from the comfort of your home when you notice a sound — the unmistakable drip of water dropping onto your floor. The first and hardest step is figuring out why your roof is leaking. And with these tips, you’ll find the culprit in no time!
Here’s Why Your Roof Is Leaking
The list of reasons why your roof is leaking may seem long, but don’t worry — when it comes to finding the leak and fixing it, the finding is the hardest part. And the good thing about these problems? They can all be fixed. Check out the list and see what’s troubling your roof:
Your roof is old
Roofs don’t last forever. Protecting your home and everything inside it from the elements comes with a cost. And with all that rain, snow, ice, wind and even sunlight wearing down your roof, it becomes more susceptible to leaks. Every roof will eventually need to be replaced, so learn more about how long your roof should last based on what it’s made of.
- How to Check Your Roof for Storm Damage
There’s no good time to find out your roof needs repair — but you may be able to mitigate that pain by routinely checking your roof for damage after severe weather. Waiting for a leak or damage to present itself gives the problem time to grow and worsen.
And sometimes, you’ll be faced with expensive roof and interior damage repairs if you’re not diligent. By being proactive and checking your roof for damage after severe weather hits can help your roof — and your savings — stay healthy.
