If you rent a home or an apartment in Lancaster, it will be in your best interest to contact an Insurance Company in Lancaster, PA, such as Susquehanna Insurance Management Ltd, to get renters insurance. Many people assume that when they are renting a property, whether it is a single family home or in a large apartment complex, that the landlords insurance covers damages to your personal property. When a landlord contacts an Insurance Company in Lancaster, PA for property insurance, it only covers damages to the structure of the property or items owned specifically by the landlord. If there is a fire, flood or other natural disaster and your personal belongings are destroyed or damaged, you are responsible for replacing them.
When you have renters insurance, it is similar to homeowners insurance, in that you have several options for the type of coverage you need as well as what items you want to include in the insurance policy. Another benefit of obtaining renters insurance is the coverage of injuries. For example, if you have a group of friends over and someone slips on the ice at your doorstep, they can sue you for their injuries. With renters insurance your policy will cover you in case you are ever sued for injuries that occur in or outside of your home.
When you first contact the insurance company, you will be required to provide a complete list of everything in your home and a value. It is important to include everything, including clothing. If your rental home is damaged and becomes inhabitable, the renters insurance will pay for you to stay in a hotel until the repairs are made and your home is livable again. Renters insurance varies significantly in the amount of coverage and the amount of the deductible as well as the additional options in coverage. It is important to discuss the options with a reliable insurance agent to make sure you are getting the amount of coverage you need and want as well as what options you have regarding policy choices. For example, you will be given the option of choosing replacement value coverage or real value coverage. These two options are significantly different, but the insurance agent will be able to provide you with the information to determine which of the two options are best suited for your particular needs.
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