Many renters in Wisconsin erroneously assume that their property is covered by their landlord’s policy, but that only goes as far as the building is concerned. Your personal belongings, as a renter, require a separate coverage. Many people underestimate the value of their belongings, but it could rise to unimaginable value. Dern & Company, based in Milwaukee, WI, can explain this.
While a renters’ insurance coverage is affordable, depending on how much coverage you require, type of coverage you go for, and the amount of the deductible, it still covers for losses to your personal property. The property includes electronics, clothes, furniture, jewelry, computers, and luggage. A standard policy covers for damage caused by aircraft, water, vehicles, falling objects, explosions, windstorm, smoke, theft, and civil commotion. However, losses arising from floods and earthquakes are covered in a different policy.
The coverage again comes in handy by providing protection for someone injured in your home. This is called liability coverage, and it also pays for any court judgment or legal expense up to the stated policy limit.
Many cases of theft and vandalism are reported when people are away from home, say for a vacation or other needs. The good thing about a renter’s policy is that your property is compensated whether you are at home or anywhere else outside of Milwaukee, WI or around Wisconsin. Additionally, if your house is damaged by any of the factors earlier stated to a point where it is uninhabitable, the policy may cover the associated costs such as food and the cost of living that you will incur in your temporary residence.
If you want to apply for a policy or want to clear up some things about your existing one, you can visit Dern & Company at any of our offices. We are here to serve all your insurance needs directly and reliably.