Renters Insurance in Pennsylvania
Renters: You might think that your landlord's homeowners policy covers you, but that's not the case. Their policy on a rental building covers only the structure. You need your own renter's insurance to cover your belongings.
Asset Planning Insurance Group, LLC of Johnstown, PA wants to help you protect the items and people in your Pennsylvania home. If a storm, fire, or other incident occurs in your building, renters insurance covers your clothes, stereo, musical equipment, furniture, books, etc.
You should carry this policy wherever you rent - a dorm room, sorority house, apartment, condo, duplex, or rental home. The only belongings your landlord's policy covers are his or her own, such as tools kept on the premises.
If you have a roommate, make sure both of your names are on the policy. You need to take this step to ensure your policy is valid.
What It Covers
A renters policy also provides you liability coverage and theft coverage. Your landlord's policy covers public areas of the building, such as interior stairs, but renters insurance provides you liability coverage inside your apartment. If your buddy falls down the stairs, your landlord's policy covers his medical expenses; if he falls in your shower, your renter's insurance covers it. If he sues you, it will pay your legal fees and the judgment.
If an incident like a fire makes your home temporarily unlivable, renters insurance covers your hotel expenses. Some policies also cover theft that occurs while you're traveling and lost luggage.
Read any potential policy carefully. Discuss your needs with your insurance agent. Does the policy cover "actual cash value” or “replacement cost” of items lost or damaged? You'll receive the depreciated cost of replacing your items with "actual cash value,” but you'll receive the full cost of replacing your items with “replacement cost."
Visit Asset Planning Insurance Group, LLC in Johnstown, PA to learn more about renters insurance. We ensure Pennsylvania stays insured.