There are a few key differences between renters insurance and homeowners insurance. For one, renters insurance does not cover the physical structure of your home, since you don’t own it. But it does protect your belongings from damage or theft, and it can also give you liability coverage if someone is injured in your home. Homeowners insurance, on the other hand, covers both your home and your belongings, and it also includes liability coverage. So if you own your home, you’ll need homeowners insurance, but if you rent, renters insurance is a good idea.
Renters Insurance vs. Home Insurance: What’s The Difference?
What Is Renters Insurance, Anyway?
Renter’s insurance is important for anyone who is renting a home or an apartment. This type of insurance protects your belongings in the event that something happens to the property, such as a fire or a theft. It also provides liability coverage in case someone is injured while on the premises. Renter’s insurance is relatively inexpensive and can give you peace of mind in knowing that your belongings are protected.
Home Insurance 101
If you own or are buying a home, homeowners insurance is necessary to protect your investment. Homeowners insurance covers you, your family, your home, and its belongings against natural disasters, theft, even vandalism and injury. When your home is damaged or worse yet, destroyed, your homeowners policy helps you replace what was lost or damaged.
Homeowners policies guard you against personal injury or damage caused to someone else while on your property. Because homeowners insurance provides liability coverage, you are protected against personal injury claims or legal costs that could be incurred if someone was injured on your property. Securing a homeowners policy will protect you from an unimaginable loss to your home.
How Home & Renters Insurance Protects Your Family
Your family is the most important thing in your life, and your home is where they feel safest. That’s why it’s so important to have home insurance. Home insurance protects your family from financial ruin in the event of a fire, theft, or other disaster. It’s important to have enough coverage to replace your home and all of your belongings. If you have a mortgage, your lender will require you to have home insurance. Even if you don’t have a mortgage, home insurance is a wise investment.
How Saltmarsh Insurance Can Help You Save Money on Your Next Renters Insurance Policy
You may be eligible for discounted premium rates if you purchase a homeowners, automobile, or excess liability (umbrella) policy from the same insurance carrier. Further minimize financial risk by purchasing a home warranty to guard against major repairs for your new home. If you took out a loan for your new home, consider purchasing term life insurance to guard your family against mortgage debt in the event of premature death.
We offer a large range of policies. To help you find the one that fits your needs please contact us.