Personal property coverage: The total value of everything you own is the amount of personal property coverage you must have. A basic policy will cover $20,000 in properties and will cost between $200 and $275 per year. If you have more than $20,000 in assets, you can increase your coverage. Other tenants think they do not have enough assets to ensure the purchase of the tenant’s insurance. Take inventory of all your products: clothing, furniture, appliances, electronics, tools, sports equipment, jewelry, etc. Now add the value of these items. You may be surprised at how much your assets are worth. Looking for renters insurance in Florida? Want to know how to get the best rate with a leading company? Many tenants simply assume that their landlord’s insurance will protect them. It’s not like that. Homeowners insurance only protects the building where you live, not your property.
Fires happen. This is just a sad fact of life. As careful as it is, just forget to put out a candle or turn off the stove. If a fire damages your landlord property or extends and damages other people’s properties, you may be legally liable for the damage. Having a legal liability protection against fires in your Florida renters’ insurance policy protects you if you are sued for damages caused by an inadvertently started fire. Most basic insurance policies offer coverage of $100,000. However, it is often advisable to increase this value. In case of serious injuries, medical expenses can easily reach and exceed $100,000. It is always a good idea to protect yourself to the maximum with an upper limit and it does not cost much more.
A standard renters insurance Florida policy covers fires, winds (if your policy covers hurricane damage) and theft damage and does not insure flood damage, there would be need to obtain a separate flood policy to cover this. Personal liability coverage is what stands between you and the financial disaster if someone is injured or damages your property in your rented house. The personal liability coverage of your Florida renter’s insurance will help pay for medical expenses, legal expenses and replacement of the property in case of an accident in which you are responsible. Your personal liability coverage will protect you, your children and your pets. This coverage extends beyond your home and will protect you in case you inadvertently injure someone, even outside your home.