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Renter or Landlord: Make sure you're covered!

 

So you just signed a lease for a nice, tidy house--or a cozy apartment.  Even though you don't own the place, you still need insurance!  After all, you still need coverage for your furnishings and belongings (your TV, stereo, computer, furniture, jewelry, etc.), plus you need liability coverage for third party property damage and/or bodily injury. 

 

Call your agent (and we hope that's us!) and ask about renter's insurance (known as an HO-4 policy).  This policy will protect your possessions and offer liability coverage--generally at a very affordable price. 

 

On the other side of the equation, if you own a rental property, call your agent and ask about a dwelling policy (depending on perils insured against you can choose from a DP-1, DP-2, or DP-3).  This provides coverage for the dwelling itself, plus at your discretion can also offer liability protection.  As a general rule dwelling policies are less in premium than homeowners policies (often due to the fact there are less perils insured against, so check your policy carefully); but it's just good business sense to make sure your rental properties have coverage against fundamental perils like windstorm and fire.  You may not live there, but you sure want to protect it!

 

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