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.