Negaunee, MI landlords can require tenants to purchase renters insurance if this requirement applies to all their tenants. However, it’s not only landlords who benefit when renters buy a policy. Renters insurance has much to offer tenants of all ages and walks of life. You may want to consider buying this form of coverage even if your landlord doesn’t require you to do so.
How Does Renters Insurance Work?
Your landlord likely has landlord insurance. This policy compensates for damage to the house structure and any appliances the landlord owns. If the landlord owns an entire apartment or condo, this insurance extends to common areas such as a communal laundry room. However, your landlord’s policy doesn’t cover any of your losses if an unfortunate event occurs.
Renters insurance policy compensates for damage to or loss of your belongings. It also provides loss-of-use coverage that will pay for expenses related to moving out of your rental unit in the event of a natural disaster. Furthermore, renters insurance protects you from lawsuits by providing liability coverage and medical coverage in case anyone outside your immediate family is injured while visiting your home.
Get in Touch with U.P. Insurance Agency Inc. for More Information
If you live in Negaunee, MI, or are planning to move here soon, contact our team to learn more about your renter’s insurance policy options. U.P. Insurance Agency Inc. has more than thirty years of experience helping local residents find great insurance deals, and we look forward to helping you find a policy that meets your exact needs.
