As part of your home or apartment rental agreement, you're generally required to carry some type of renter’s insurance. Renters insurance covers damages from fire, theft, or vandalism as well as your liability if somebody is injured at your residence or even to protect your personal liability when not at your home. Here's what you need to know about Minnesota renter’s insurance policies.
Why It's Necessary
From a renter's point of view, it may seem odd that a landlord would require you to have insurance that covers your personal belongings and liability. However, it makes a lot of sense from a landlord's point of view. If any of the property in your Minnesota rental is damaged because of a fire or theft, renter’s insurance will cover it instead of you having to take it up with your landlord. Beyond that, it's a good idea to have a renter’s insurance policy from Carver Insurance Group because it can help you stay on your feet if there is a fire or some other incident at your rental property.
What It Covers
Regarding overall coverage, renter’s insurance covers property damage due to natural disasters, theft, and vandalism in addition to covering you in case you're found liable for an injury that occurred on your property. However, you may be wondering what sort of natural disasters and other cases are covered by renter’s insurance. For the most part, it's the same as homeowner's insurance. Damage to your property will be included if the damage was caused by hail, fire, rain, or a wind storm, but you'll need to purchase additional coverage if you want coverage for damage to your property due to earthquakes and floods.
In addition to this, renter’s insurance can also pay for temporary lodging in the event of a natural disaster in some cases. This coupled with the personal property and liability coverage is what makes having a good Minnesota renters insurance policy from Carver Insurance Group so important. Contact our offices to receive a quote and learn more.