I am a tenant, do I need rental insurance?

{:en}I am a tenant, do I need to have rental insurance? A month and a half ago, the fire that devoured a building in Miami Gardens made headlines in local newspapers. Many of the residents of the 75 apartments affected by the flames were tenants and lost all their personal belongings. None of them had rental insurance, so they couldn\’t claim their losses from anyone. Although more than 44 million people in the US live in rental properties, few of them have tenant insurance, perhaps because they are unaware of its existence. However, rental insurance offers great benefits through its three typical coverages: personal property coverage, liability insurance, and loss of use coverage. A person who lives in a rental property may have belongings of certain value, such as furniture, appliances, kitchen utensils, sports equipment, clothing, or musical instruments. If these are damaged by a covered cause in the rental insurance policy, such as fire, theft, vandalism, or water damage, the tenant should be compensated by the insurer. It even protects them if their computer was stolen from their vehicle. Liability insurance for rentals is the typical coverage that protects tenants from damages that someone may suffer within the rented property. Meanwhile, loss of use is the policy that covers the tenant when the rented property becomes uninhabitable due to any circumstances, such as a sudden major repair. In that case, rental insurance should cover the hotel bills and other expenses incurred while living outside of their home, while the problem is being resolved. Tenant insurance is not mandatory, but given its importance, it would be prudent to have this policy. Additionally, it is one of the most affordable insurances on the market. If you live in a rental property and are interested in insurance that keeps your personal property safe, call Univista Insurance and inquire about rental insurance. I am a tenant, do I need to have rental insurance? Call us today for a complete qualification! (305) 267-7138. You can also get a free quote here.