Renters Insurance in Kentucky

It is estimated that almost 35% of people rent their dwellings. The percentage is much higher for those under 35 years old and much lower for those who are over 65. Homeowners know the importance of having their dwelling insurance, but about 40% of renters don't have insurance on their rentals. Roark Insurance Agency in Flatwoods, KY provides the information needed to make an educated decision when it comes to whether or not renters insurance is right for you.

Coverage For Your Rental Home

As a renter, you probably wonder why you need renters' insurance because you don't own a building. That is true, but you probably have a lot more possessions than you realize. If you think that your landlord or management company has coverage that protects you, you are misguided. They do have insurance, but it protects their building, not your possessions.

Renters insurance protects your personal possessions against theft, which can happen in your rental, in your vehicle, or with you as you travel. It also covers things like vandalism, fire, smoke, and many other hazards that can damage your furniture, electronics, and clothing.

If renters insurance just covered your personal possessions, it would be worthwhile, but there is more to it than that. It provides liability coverage. Nobody likes to think about getting sued, but it is an all too common occurrence. If someone is injured while visiting your rental or by a member of your family, even a four-legged one, it can lead to a judgment against you. You may not only owe the judgment but legal fees as well. It could end up placing you in debt or losing your assets.

In addition to the other two types of coverage, renters insurance also provides loss-of-use insurance. This will help you to pay for another place to stay while your rental is being repaired after a covered hazard. It will even help with food if you are unable to cook.

We Are Here To Help!

Contact Roark Insurance Agency in Flatwoods, KY to discuss renters insurance. We will be happy to assist.