Your Critical Guide to Home Renters Insurance

Home Renters Insurance Staten Island NY
Posted on: October 16th, 2015

Purchasing the right renter’s insurance for you is imperative!

If you own a property and plan to rent it out, renters insurance enables you to protect yourself against liability concern and avoid exposure to dangerous financial fallout. Be sure to compare quotes, policies, terms, and companies before selecting the right one for you and the property.

When you rent your apartment, condo, or home you do not need to insure the place for its contents. The renter needs to maintain sufficient coverage for their belongings and liability risk. The structure itself needs to be insured: the foundation, building materials, built in appliances, and so on. Note that you will need to buy flood insurance and earthquake insurance separately.

In general, your tenant will be responsible for any damages or injuries that occur on the property, for example, a guest falls in the shower and requires x-rays and surgery. This should be covered by the tenant’s own renters insurance. If a guest was to fall and slip on the exterior steps, the liability is a grey area and the guest fell on the steps outside which is technically your property. Ask your insurance agent what insurance can cover all bases.

To get costs under control, opt for higher deductibles, and insuring your home and auto with the same insurance company. Protecting your property is completely possible without breaking the bank. For home renters insurance in New York, contact The DiForte Agency. We are located in Staten Island and provide residents with all of their insurance needs.

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