Whether you rent a house or apartment, you will need to protect your personal property and insure against others’ claims of damage or injury. Contrary to what some believe, your landlord’s insurance does not offer you that protection. Here at the Schaefer & Delauder Insurance Agency in Germantown and Frederick, Maryland (Montgomery and Frederick Counties), we can help you understand your options and responsibilities as a tenant and walk you through making the right choices for your own renters insurance needs, whether you live in Maryland, Virginia, West Virginia, North Carolina, New York , Pennsylvania, Delaware or Washington, DC.
Renters (or Tenants) insurance is your financial protection from destruction or loss of your possessions or for claims brought by others for losses where you are at fault.
Types of Renters Coverage
A renter insurance policy provides the following types of coverage:
- Personal liability covers claims brought against you by others for their bodily injury or damaged property occurring at your home or elsewhere when you, your covered family members or your household pets are at fault.
- Personal property coverage protects your belongings against loss or against damage in your home or elsewhere.
- Loss of use covers your additional living expenses if/when you are forced to live elsewhere while your home is repaired/rebuilt after a covered peril.
Renters Insurance Policy Types
Typically, there are two types of renters insurance policies available and they differ in their method of reimbursement.
- Actual cash value reimburses the full value of your lost/damaged possessions up to the limit of your policy after deduction for depreciation.
- Replacement cost does not deduct for depreciation.
Our capable agents, here in Germantown and Frederick, MD (Montgomery and Frederick Counties) have experience with renters insurance; and with their help, you can learn about available discounts and coverage choices to create just the right policy for your needs. So why not contact us today to discuss how we can help or to get a free renters/tenants insurance quote.
The scope of your insurance coverage and options depend entirely upon the policy and the insurance company providing it. This website is not intended to advise, offer or bind coverage. You should always discuss your insurance issues with professionals such as a licensed and qualified insurance agent like those at the Schaefer & Delauder Insurance agency before making any decisions or choosing a course of action.