Insurance is a critical investment for any homeowner. However, tenants are not always keen on purchasing the right renter’s insurance coverage to safeguard their personal belongings from perils like fire, theft, water damage, etc. Renters insurance is not mandatory in LA, but many home associations have passed laws that govern the insurance requirements for any tenants living in their properties. In such a case, renters insurance becomes mandatory in that particular home association. If you need renters insurance in Baton Rouge, LA, Insurance & Financial Services Inc. can help you get a flexible and affordable coverage.
Why is Renters Insurance Important?
Many home associations make renters insurance mandatory due to various benefits. First, renters insurance covers losses resulting from accidents or natural disasters. In the event of a covered loss, both the renter and the tenant will quickly recover from the financial losses and restore the property to its habitable state. If such losses were to be left in the hands of tenants to fund out of pocket, the losses that could build up from endless lawsuits and delayed remittances could be unbearable. Additionally, renters insurance caters for additional living expenses in case the property is rendered inhabitable after a covered disaster.
Just like homeowners insurance, renters insurance is packaged in different policy options. Here they are:
This policy will protect you in case someone visiting your rented property incurs injuries that are attributed to your negligence or fault. It could be as simple as a slip and fall incident that turns tragic.
Personal Properties Coverage
Natural disasters like fire or wind can easily gulp your valuables within minutes. This coverage replaces your lost properties to the limit of your coverage amount. Depending on what you prefer, you can choose a replacement cost or an actual cash value of your insured properties.
If you live in a rented home in Baton Rouge, LA, consider buying enough renters’ insurance coverage from Insurance & Financial Services Inc. Contact us today and speak to our professional agents who will guide you in choosing the right renter’s insurance policy.