What is Rental Insurance?Generally speaking, rental insurance is a type of insurance policy that covers damage or loss of property for people who rent an apartment. Many people are surprised to learn that if an apartment building is destroyed by a fire, flood, etc., or is broken into, the landlord's insurance will cover only damage to the building and the landlord's liability to others. Therefore, unless the damage or loss of property is caused by the landlord, the landlord is not liable for that loss or damage.
Should I Have Rental Insurance?If you are renting an apartment, it is probably a good idea to consider rental insurance. It will protect your property against loss or damage due to theft, fire, or natural disasters. In some cases, it can also protect you if guests to your apartment are injured while within the apartment. Some residential leases require that the tenant carry rental insurance. Premiums for rental insurance are relatively low.
Do I Need a Lawyer?If you carry rental insurance, and your insurance company is disputing a claim you have filed, you should consult a lawyer. A lawyer can help you to determine whether your insurance company acted in bad faith by denying your claim, and can help you to take steps to recover money that is owed to you. |
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