Renting a house, condo, apartment, or other dwelling comes with certain risks. Renters insurance protects a tenant’s personal belongings from damage, destruction, or loss following covered events like fires, theft, burglaries and water damage.
Most policies also include liability coverage if someone is injured at the rental property, as well as coverage for additional living expenses if the property becomes uninhabitable. Buying a renters insurance policy from Southern States Insurance can provide tenants with the peace of mind that they are protected against the unexpected.
What Does Renters Insurance Cover?
A renters insurance policy through Southern States Insurance provides affordable coverage for renters and their belongings. Policies cover a wide range of perils, such as smoke damage, windstorms, vandalism, fire and theft. It also covers many different types of items, including appliances, electronics, furniture and clothing. Renters insurance may also pay for accidental damage to another person’s property.
There is a common misconception that only people with expensive possessions need renters insurance. Even the cost of small and inexpensive items like cookware and linens can add up to a substantial amount. Renters insurance can also provide coverage for items that are stolen from a rental property when the tenant is not home.
If a fire or other covered peril causes a rental property to become uninhabitable, renters insurance can help pay for increased living costs, such as a hotel room stay.
Is Renters Insurance Required in Georgia?
Georgia does not require tenants to obtain renters insurance by law. However, some landlords may require individuals to acquire a policy before allowing tenancy in their building. While the landlord or property management company may carry an insurance policy, it likely only covers the building structure and not the personal belongings of tenants. These policies tend to only cover damage to the rental property itself and do not cover personal belongings.
How Much Does Renters Insurance Cost?
The cost of renters insurance can vary considerably based on a number of different factors. First, the insurance company will look at the value of all personal belongings in the rental property. Policies with a higher personal property coverage amount will pay more than ones with a lower coverage limit.
Second, other factors, such as location and the level of risk that a particular property faces, may also influence the cost of a policy. However, basic renters insurance policies can be as little as $5 per month.
Who Should Consider Renters Insurance?
Most people know the importance of acquiring a home insurance policy when they own property, but often overlook the necessity of renters insurance when renting a home or apartment. Anyone who rents and wants to protect their personal belongings should consider acquiring renters insurance, including small or large apartments, townhouses, condos, stand-alone homes and other types of dwellings.
Request a Quote for Renters Insurance
Southern States Insurance offers comprehensive renters insurance coverage to protect your belongings at an affordable price. For more information, contact call your personal insurance brokers at Southern States Insurance by calling (888) 971-6304 or requesting a quote online today