Homeowner’s and Renter’s Insurance

Homeowner’s Insurance is a form of property insurance that covers losses and damages to your home along with the furnishings inside and other assets in the home.  The amount varies by policy, but rest assured it will cover fire and burglary. This type of policy also provides liability coverage against accidents in the home or away from the property. If you own a home with a lien, your lender will require homeowner’s coverage. But even if you own your house outright, protect it with insurance and review it periodically so that you will have substantial coverage to replace things if necessary. 

Renter’s Insurance

Not owning a home doesn’t mean your possessions are not valuable. In fact, after the housing bubble popped in 2008, a lot of folks transitioned from home ownership to tenant. No matter the reason you lease or rent property instead of owning the home where you live, your possessions should be covered. Other coverage available include loss of use, in case repairs are necessary on the rental property. In this case, this type of insurance would cover your housing while you are away for repairs. 

This type of coverage is smart because it protects you from financial losses related to theft, water backup damage, certain natural disasters and more. If you are renting an apartment, home or a college dorm room in California, renters’ insurance could help cover what your landlord’s policy won’t. And in many cases, landlords require proof of coverage before they will let you sign a lease.

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