Philadelphia, PA
- If you rent an apartment in Philadelphia, consider purchasing renters insurance to protect your belongings. Although landlords may have the policy to cover their property, this only protects the building itself and the things they provide. Renters' insurance can help during need or disaster and can be purchased in just a few minutes online. Read on to learn more about the benefits of this type of insurance.
Why Buy Renters Insurance in Philadelphia?
In Philadelphia, renters insurance is essential to protect your belongings. While property crime rates are 38% higher than the national average, many renters choose renters insurance because of the peace of mind. This policy protects you against theft and fire and covers some damage from frozen pipes and snow. Additional living expenses coverage is an extra benefit to consider. It can cover the cost of moving into temporary housing if your renter's insurance policy doesn't protect against these costs.
Protect Your Personal Belongings
Renters insurance is essential for protecting your home and personal belongings. Philadelphia is one of the most livable cities in the country, and the city experiences nearly every element. The city also experiences no severe weather conditions, though the recent trend of hurricanes moving north is unsettling. Though Philadelphia's burglary rate has decreased in the past decade, property crime remains 22% higher than the national average. In addition to protecting your property, renters insurance in Philadelphia also covers several other expenses.
A renters insurance policy can help you recover from unforeseen expenses and provide coverage for personal liability. This type of insurance can cover additional living expenses in a disaster, such as medical bills and legal defense costs. It can also cover the cost of replacing expensive high-ticket items like jewelry. Renters insurance in Philadelphia covers your personal property in case of fire or theft. Still, it does not cover building structures or specific perils like earthquakes.
Covers liability
One of the main reasons to purchase landlords insurance is that it provides coverage for the risks of owning and operating rental properties. Renters insurance in Philadelphia protects owners from the loss of rent and damages and lawsuits related to stolen or damaged property. The policy also includes endorsements for additional structures. However, a landlord's insurance policy will cover a tenant's rental property and any additional structures.
Before purchasing renters insurance in Philadelphia, ensure that your policy includes personal liability and property coverage. Make sure you understand how this coverage will benefit you. For example, suppose a landlord tries to sue you because of damaged property. In that case, the policy will cover your legal expenses and pay for additional living expenses, such as a hotel stay. You can choose to list your landlord as an interested party to make sure you get the proper coverage.
