Why do you choose to rent? Maybe you just moved to a new city and want to get a sense of the neighborhood before making a purchase. You might like the convenience of letting a landlord handle anything that goes wrong. Perhaps it’s the most cost-effective way to live near the city center.
Whatever your reason for renting, you may need coverage to help you protect your personal possessions and assets. Your Farmers agent can help you understand your insurance options so you can choose the coverage you want.
Here are a few risks renters may face — and how renters coverage may help:
A candle starts a fire
You’ve lit several candles — which unintentionally start a small fire.
Property coverage under your renters policy may help if personal property like a sofa and a bookcase are damaged by fire.
You’re sued by a Neighbor
On an especially gusty day, strong winds push a small potted plant off your balcony and onto a neighbor who is passing below. He is seriously bruised, and decides to sue.
Liability coverage may help if you’re responsible for an injury to someone outside your household.
A guest is injured
You’re hosting a small cocktail party when a guest trips on frayed carpet in the hallway. His injury isn’t severe — but his arm does require medical attention.
Medical payments coverage may help if a guest is injured on your premises.
You have to relocate temporarily
When a washer hose bursts and floods your apartment, you must move out while your landlord makes repairs.
Additional living expenses coverage may help with the extra costs of housing and food if you’re forced to move out for temporary repairs to your residence.
You can also customize your renters insurance policy to anticipate risks like these:
Your electronics are stolen
A thief steals all the electronics from your media center — the equipment is a few years old, though, and you want to replace everything with new.
Replacement cost coverage may help cover the cost of replacing older items with their brand new equivalents — ask your agent about some limitations that may apply.
Your identity is stolen
Your identity was stolen and used to rack up thousands of dollars in credit card charges.
Identity Shield may help in efforts to recover your identity, assist in notifying credit bureaus, replace important documents and help with compensation for your time and other related expenses.