What does tenant insurance cover?
Standard policies insure the contents of your home, third-party liabilities, and additional living expenses. Minimum replacement coverage for your possessions will be about $20,000. People who have valuable items will want to talk to an insurance agent about buying a policy that provides greater financial protection.
The threat of third-party liabilities may not occur to most renters. However, a person who suffers an injury in your home may sue for damages. Additionally, if you somehow cause a fire or flood that affects your neighbours, then you could be responsible for their expenses as well.
The additional living expenses coverage will be especially important if a flood or other disaster makes it impossible to continue living in your rental home. You may have to secure alternative housing while repairs are completed. Finding a new place to live without warning could bust your budget, particularly when you’re confronted with the need to purchase new furniture, clothing, or electronics.
A good value
Basic coverage will be a small price compared to the financial relief provided. The reduced financial strain will help you cope in the aftermath of a disaster and avoid going into debt while waiting for clean up to be completed. Removing smoke odours and drying water damage require time and the attention of professional disaster recovery specialists.
Total Restoration Services Inc. has the resources and expertise to return your life to normal. Call us today.