Renters Insurance in Alabama
If you rent your home, you don't have to worry about property taxes and most home maintenance jobs. You should, however, think seriously about insurance. At the Larry Burkman Agency, serving Huntsville, AL, we can help you better understand why you need renter's insurance and help you understand how it works in Alabama. Keep reading to learn more.
Why Do I Need Renter's Insurance?
The property you rent will have property insurance, which is paid for by your landlord. However, this type of insurance does not provide any protection concerning your personal belongings inside the property. If the property is damaged or lost due to fire or natural disaster, and your possessions are also lost, you will be financially responsible for replacing those items.
If you have the cash out of pocket to replace or repair your items, this could create financial hardship for you.
Does My Landlord's Insurance Protect My Stuff?
In most cases, the answer is no. The property insurance that your landlord has in place is to protect their property, not your property within the home. You should discuss with your landlord the insurance parameters to determine if any insurance benefits are included in your lease.
What Will Renter's Insurance Cover?
Most renter's insurance policies will reimburse the value of your possessions inside a rental property. This can include the value of items such as furniture, clothing, valuables, electronics, jewelry, collectibles, and more.
How Do I Know How Much My Stuff Is Worth?
If you need help valuing your items, you can sit with an insurance professional. These individuals are trained to evaluate personal belongings to establish insurance policy amounts.
If you would like to learn more about renter's insurance or any of our other insurance services in Alabama, please get in touch with us at Larry Burkman Agency, serving Huntsville, AL, and the surrounding areas. We will be happy to help you.