What Doesn’t Renter’s Insurance Cover?

What does a renter’s insurance policy cover? This question is common for agencies, such as Benefit Insurance Services, to hear from clients. A renter’s insurance policy in Myrtle Beach, SC is an excellent financial and liability protection resource, but it doesn’t offer blanket coverage.

Isn’t a Renter’s Policy Similar to Homeowner’s Insurance?

Unlike a standard homeowner’s insurance policy, renters have to be more diligent about their insurance. Renter’s coverage focuses on the policyholder’s belongings. That means that if a coverable event happens to your personal property inside your rental unit, your renter’s policy may cover the costs of replacement.

What’s a "Coverable Event?"

A "coverable event" activates a renter’s insurance policy. Standard policies come into play when you experience a burglary, a fire, or an accident in your apartment. Some policies also protect renters from losses caused by natural disasters, but it’s essential to understand that a policy doesn’t cover all catastrophes. That is why renters must have a basic understanding of what their policy does and doesn’t cover.

What Does Renter’s Insurance Cover?

Renter’s insurance policies vary by state and policy. However, most renter’s insurance coverage in South Carolina covers clothing, furniture, other contents in your rental. However, many policies limit certain items, such as electronics and jewelry. If you have high-value items, it’s often more cost-effective to purchase a separate rider for supplemental coverage.

What Doesn’t Coverage Include?

Many renters assume that they’re insured for events such as floods, earthquakes, and tornadoes. But a renter’s insurance policy might not cover these acts of nature. This could require additional coverage.

Buy Renter’s Insurance in Myrtle Beach, SC

Contact an insurance agent at Benefit Insurance Services to find out more about renter’s insurance in South Carolina. Our agents know the area and can help you choose a policy that offers the coverage you need.

Why Renters Insurance is a Must

Although renters insurance is technically only needed if required by your landlord or building, regardless of whether you are renting a single-family home or an apartment you should strongly consider purchasing a policy. Designed only to be used in extreme circumstances, you’ll be thankful for having the coverage when the worst happens. Many renters have the common misconception that your landlord’s insurance will cover your personal belongings; however, this is simply not true. A landlord’s homeowners insurance will cover their property to include the home’s structure and any other buildings on the ground, but it will not cover your personal items like furniture or electronics. 

Not only does renters insurance cover your personal belongings to your policy’s limits, but also it includes personal liability protection which covers medical bills, lost wages, and legal bills associated with a third party being injured while at your rental. Additional coverages include medical protection and loss of use if your resident becomes uninhabitable due to a covered event like a flood or natural disaster. 

While any renter would benefit from renters insurance, you’ll want to make sure you have coverage if you own a pet or have expensive belongings that may be difficult to replace. If you are local to Myrtle Beach, SC or the surrounding area and have questions about renters insurance or want to purchase a policy, the team at Benefit Insurance Services is ready to help with any of your insurance needs. Give Benefit Insurance Services in Myrtle Beach SC a call and we’ll be happy to schedule an appointment to learn more about our insurance offerings and how we can help you. 

How Does Renters’ Insurance Work?

Renters’ insurance is an important type of coverage that everyone who rents their home should have. It provides several types of protection, and it’s generally an inexpensive insurance type to get. If you rent, and you need insurance, call us right away at Benefit Insurance Services in Myrtle Beach, SC to talk with an agent. 

Protect Your Possessions

One of the ways that renters’ insurance protects you is to cover your belongings. This coverage can help you if your items were to be destroyed or damaged in a number of scenarios from disasters to accidents. Without this type of coverage, you would simply have to go on with nothing if your things were to be destroyed. But with this coverage, you can get a payment to help with the replacement of all of your things. 

Get Liability Coverage

When you have someone over to your home, you don’t want to have to worry the whole time that they will have an accident that you will be liable for. However, that remains a danger that can happen. If you have renters’ insurance, part of that coverage is covering your liability in just this type of situation. This can save you from lawsuits and even wage garnishments that can be ordered if you are liable for someone’s accident or illness that occur in your rental. 

Livable Home

If your rental were to suffer from a major accident, disaster or other occurrence that leaves it uninhabitable, it can be hard to afford to leave while the repairs are being made. However, with renters’ insurance, the policy can pay for you to move somewhere else and to live there during the repairs. This allows you to keep living in an inhabitable home.

Get Your Renters’ Policy

If you’re interested in one of these policies, call us at Benefit Insurance Services in Myrtle Beach, SC. 

How renters insurance protects your personal belongings

How Renters’ Insurance Protects Your Personal Belongings

Renters insurance was particularly designed to protect your personal belongings from loss, damage, or liability for third-party injuries in your rental home. While it’s not always mandatory in Myrtle Beach, SC, renters’ insurance is a critical policy to have as a tenant. Remember your landlord’s policy only covers the building and not your personal belongings.

If you are looking to buy renters insurance to protect your valuables, Benefit Insurance Services can help you find coverage that matches your needs.

Protects Your Valuables From Theft

Your personal property coverage in renters’ insurance helps pay to replace the stolen items. However, it’s essential to keep an updated inventory for easier reimbursement. Additionally, you need to make sure that your coverage equals the value of your possessions. Property coverage is typically subjected to deductibles, which means you would have to pay a specific amount of money towards the covered item replacement or repair before your insurer pays for the loss.

Provides Protection When You Travel

Renters insurance not only protects your personal belongings at your rented apartment but also when you travel. If you travel a lot and take part of your possessions with you, renters insurance provides limited coverage based on the agreed limits. Check with your insurance provider for details on what is covered and what is not.

Additional Living Expenses

Suppose your Myrtle Beach, SC home becomes unlivable due to fire damage or any other peril. In that case, renters insurance can help settle you in a convenient location where you can live a normal life like going to work or school and having access to other amenities. If you choose to live in a hotel, your insurance company may compensate you for the additional costs incurred during the stay. The amount may vary based on your policy limits.

Renters insurance is an essential policy for every tenant. If you haven’t bought yours yet, our insurance experts at Benefit Insurance Services are ready to provide advice and guide you through the process so you make an informed decision. Call us today!

Renters Insurance Myths Exposed

Based in Myrtle Beach, SC, Benefit Insurance Services serves the community by helping residents find the coverage that they need. We strive to make sure that our clients are covered for any situation that life may throw their way. As an independent insurance agency, we work with multiple carriers throughout South Carolina.

Renters Insurance Myths Exposed

Many people in Myrtle Beach, SC enjoy staying in rental properties, as they offer a great view of the coastline. If you are staying in a rental property, renters insurance will help you protect your personal items in case something happens. You will also be protected if someone gets injured while they are visiting your rental property. Unfortunately, there is a lot of misinformation regarding renters insurance that has started to spread. Here is the truth behind some common renter’s insurance myths.

My Landlord Covers Everything

This is incorrect. Your landlord may have a policy to cover the physical structure of your unit. However, they are not covering your personal items. Renters insurance is the only way that your personal items are protected if you are a victim of theft.

It’s Not Necessary For My Items

All of your personal items hold some type of value. Do not assume that just because you do not own any expensive or luxury items that renters insurance isn’t necessary. Accidents can occur at any time, and renters insurance provides you with a safety net.

I Don’t Have To Think About The Weather

While you are researching coverage, remember that the weather in the region can be unpredictable at times. Renters insurance will protect you if your items are damaged as a result of a fire or inclement weather. Renters insurance will give you a little bit of peace the next time a hailstorm moves through the area.

Benefit Insurance Services Will Help You Protect What Matters Most

Visit our website today to learn more information about renter’s insurance.

What Does Renters Insurance Cover?

If you rent your home, you should really consider obtaining a renters insurance policy. It is one of the most affordable insurance policies on the market yet it provides you with plenty of coverage along with the peace of mind and a sense of security.

Many times, people think that their landlord’s insurance policy will cover not only the house, apartment, condo, or mobile home they are renting but also their personal possessions but that is simply not true. Your landlord’s policy only covers the dwelling and outbuildings on the property, not your furniture, clothing, appliances, and other items that belong to you.

While renter’s insurance is not normally required by law, you really should consider it and some landlords will require it as part of your rental or lease agreement.

What Does Renters Insurance Cover?

Renters insurance will protect your personal possessions from loss, damage, or theft and can protect you when it comes to claims of liability by others too. For example, if your friend is visiting you and is injured because a chair they were sitting in breaks and they fall, your landlord’s insurance will not cover their medical expenses, time off work, and other expenses but if you have a renter’s insurance policy, that coverage will pay those bills and prevent you from being forced to do so.

Another example of when renter’s insurance will come in handy is if the house or apartment you are renting catches on fire and your furniture, clothing, and appliances are destroyed. While the dwelling itself will be covered under your landlord’s insurance policy, your items will only be replaced if you have renter’s insurance or have the cash to purchase them yourself.

How To Obtain a Policy

You can enlist the assistance of a trusted insurance agent to create a renters insurance policy that is tailored to your needs. The agents at Benefit Insurance Services in Myrtle Beach, SC are prepared to help you create the renter’s insurance policy to give you and your belongings the coverage you deserve. Call for an appointment today!

Why do i need renters insurance?

Almost every individual dreams of owning their own home someday. This may take a while to achieve and we, therefore, spend a good part of our lives renting houses. It is essential that we protect our belongings from calamities such as theft, fire, or damage while living in rental houses. If you are living in Myrtle Beach, SC, a good place to start would be buying a renters insurance.

What is renter’s insurance?

This is a policy designed to protect renters living in an apartment or rented house and their belongings. The policy covers you against financial liability that you are likely to incur in case of unexpected events or natural courses. These include fire, theft, electrical faults, volcanic eruptions among others. At Benefit Insurance Services, our agents will guide you in identifying areas of concern about the particular property you are living in. Be sure to disclose essential household items that should be captured in your policy.

Types of protection

  • Personal possessions

Your personal belongings are protected against fire, smoke, explosion, and other disasters. To decide how much insurance to buy, come up with the value of your personal belongings such as furniture, clothing, electronics, appliances, and even bedding. Most insurance companies in Myrtle Beach, SC do not cover liabilities as a result of flooding. Kindly discuss this with our agents at  Benefit Insurance Services for an additional cover if you live in an area affected by floods.

  • Liability

A standard renters insurance will provide you with protection against lawsuits for bodily or property damage caused by you or your loved one. Damages caused by your pets are equally covered in case of a lawsuit. This policy also provides a no-fault medical cover. Where a person is injured within your premises, their medical expenses are catered for.

Kindly call Benefit Insurance Services agents or visit our website for further information on the renter’s insurance policy.

Common Questions about Renters Insurance

If you are renting in Myrtle Beach, SC, you may have questions about renters insurance.

Is renters insurance required?

Your landlord can require you to have renters insurance and it will depend on a case-by-case basis. Even if you aren’t required to have renters insurance in Myrtle Beach SC, you should still consider it for its many benefits.

What things does renters insurance cover?

Renters insurance covers more than just your belongings; many policies also cover liability if someone hurts himself or herself in your home. If you have to live away from your rental due to repairs following water damage, smoke, or fire, your insurance can cover the cost of accommodations as well. Many plans will also cover your belongings while you are on vacation or if they are in your car. An agent at Benefit Insurance Services can help you go over the fine print of your policy.

How do you determine how much coverage you should have?

Doing a home inventory and figuring out how much your stuff is worth can give you an idea of how much insurance you should have. Not having a proper inventory can hurt you in the long run and you always want to have receipts for big-ticket items and take photos.

Does your insurance also cover your roommate?

Some providers can allow you to add someone not related to you on your plan but it’s best if you and your roommate have separate policies. If you only have one policy then if a claim is made against your roommate, that will go on your insurance record as well and it could hurt you down the road.

Does renters insurance cover pets?

Those who have pets should definitely have renters insurance. If your dog bites someone, it is covered under your limits and if your pet ruins your friend’s couch, you may also have coverage. However, renters insurance won’t cover you if your pet ruins your own furniture.

Contact Benefit Insurance Services to get a quote on renters insurance.

Can I Add a New Roommate to an Existing Renters Insurance Policy?

If you have never had a renters insurance policy before, you may have a plethora of questions about this type of insurance policy. Here at Benefit Insurance Services, serving Myrtle Beach, SC, we often hear questions about who can be added to the policy and when. If you are wondering if your roommates can be added to an existing renters insurance policy and when they can be added, here are the answers you are looking for. 

Can Roommates Be on a Renters Insurance Policy With You? 

Roommates can be on a renters insurance policy together. The roommates do not have to be related, they simply have to be sharing a space together, such as a condo, house or apartment. Many insurance companies require all people who are trying to get coverage together to be listed on a rental lease together. As such, you cannot simply add your boyfriend who sometimes sleeps over to your policy or a friend who is just crashing on the couch. 

Can You Add New Roommates to an Existing Renters Insurance Policy?

Roommates may come and go. One roommate may move out, and a different one may move in. If you are in the middle of a renters insurance policy, you may wonder if you can add or change the roommates on the policy. Insurance companies will allow you to add or remove covered individuals in the event of move-in and move-outs. 

You are able to have roommates on a renters insurance policy with you, and you are able to change the people listed on the policy when needed. Having a lease that lists the covered parties is important. If you are in the market for a new renters insurance policy in the greater Myrtle Beach, SC area, let Benefit Insurance Services help you. Call us now to learn more. 

How Much Renter’s Insurance Do You Really Need?

People who rent or lease a space to live in, should seriously consider purchasing renter’s insurance. It is a policy designed to cover contents that you own in the event of loss from a variety of threats. Most people know that renter’s insurance is a good idea, but exactly how much renter’s insurance is enough to provide adequate coverage?

Renter’s Insurance

Renter’s insurance is fairly simple and is usually offered for coverage in the amount of $100,000 unless otherwise specified. Anyone who has contents that exceed that amount of value should consider asking if there are additional coverage options available through their carrier. Additional insurance products may be necessary to cover high cost collections, jewlery, and art. In order to discover that amount that works for a specific situation, calculate the value of all large ticket items such as appliances and electronics. Make sure to keep receipts for these items, as well as photos to help expediate the claims process. 

Finding Reliable Renter’s Insurance

Anyone who is considering purchasing renter’s insurance should work with an established insurance agency with representatives and agents who know how their products work and can guide clients in the right direction when it comes to selecting the right coverage. Residents in and around the Myrtle Beach, SC area should check out Benefit Insurance Services to provide quality renter’s insurance products. Their agents can work closely with each client to help them understand terms and conditions and even help them file a claim. 

Anyone who is searching for renter’s insurance should call or stop by Benefit Insurance Services serving the residents of the Myrtle Beach, SC area, to discover options that can protect their belongings from a variety of potential incidents.