Although renters insurance will cover most of your household items, you may not be covered for the value of expensive items. In such situations, you may want to consider purchasing a floater insurance policy. It’s also a good idea to calculate the replacement value of expensive items and double-check that you’re covered for the cost of replacement.
Liability protection is another important aspect of renters insurance. Liability coverage protects you from lawsuits if you are held responsible. While the amount of money covered is modest, a lawsuit can result in extensive damages, which can reach thousands of dollars. A typical renters insurance policy comes with a liability limit of $100,000. While that’s plenty for most people, if you have valuable belongings, it may be worthwhile to purchase additional liability coverage. Make sure to carefully review your insurance policy to determine whether you’re fully covered for your valuable items. This way, you can make sure you have enough coverage in case of a disaster or loss. Consult our insurance advisors at Madero Insurance today!