It is important to have a renters insurance policy whenever you rent a home in McAllen, TX. It safeguards your belongings while you reside in a rented accommodation. A good renters insurance policy will not only provide the requisite coverage but also give additional protection options.
Below is a list of some of the inclusions in a renters insurance policy:
- Personal property coverage: Personal property can amount to a lot of money and losing your belongings can pose a great financial risk. A renters insurance policy will provide coverage for theft or damage of your possessions due to a fire, storm or any other mishap specified in the policy. This will make it easier for you to replace your damaged belongings. However, extended coverage may be required for collectibles, antique items, jewelry etc. You will be required to pay a higher deductible for additional coverage but it will be beneficial in the longer run.
- Additional living expenses: If your rental home is temporarily unlivable due to any unexpected damages, your insurance policy can provide coverage for the temporary living expenses. Living somewhere else till your home gets repaired involves expenses such as hotel bills, transportation, accommodation etc. which can be claimed under a renters insurance policy.
- Liability coverage: A standard renters insurance policy provides liability coverage that can offer protection in case a guest sues you if he gets injured inside the rental home. The injury should be such that it requires immediate medical help. The renters insurance policy will pay for all the legal expenses apart from the medical bills and other related expenses, in case you are held liable for the injury.
- Coverage during travel: In case you lose any of your important items while traveling, the renters insurance policy will provide coverage for that as well. Although certain airlines refund the customers a definite amount if their luggage gets lost while traveling. Renters insurance will provide coverage for the remaining cost of all the items that have been lost. Therefore, it is all the more essential to get renters insurance for adequate coverage during crucial times.
- Smith-Reagan Insurance Agency offers a wide range of renters insurance plans to the clients in McAllen, TX. For more information, you can call at (956) 399 – 1353.