Natural disasters are on the rise all over the country. Being prepared to survive a natural disaster means not only preparing your rental the best you can but also protecting your possessions. At Anthony Lancaster Insurance Inc. in Memphis, TN, we offer a variety of different rental insurance policies to help you have financial security. If you are thinking you can save a little money by not having this valuable coverage, that is a mistake. 

Your possessions

Imagine losing everything that is in your rental to a tornado, hurricane, or wildfire. You may think that your landlord or management company has insurance that will protect you, but they don’t. They have insurance that will protect them, not you. So the building is covered but not what you own. If you lost all of your clothing, furniture, electronics, and appliances how would you cope? Do you have the money it would take to replace it all at one time? If you are like most people, it would be difficult. 

Loss of use

If your rental is damaged or destroyed by a natural disaster, where would you go? Do you have a place to stay while you look for a new rental or for your rental to be repaired? This can be expensive and finding a short-term rental can be challenging. If you have renters insurance, you will be able to stay at a hotel in the short term, and it will help pay for a temporary rental while you try to find a new place to live. 

Liability coverage

If someone is injured at your rental or by a member of your family, this insurance will help you to pay any damages and legal fees. 

Schedule A Consultation Today

Contact the office of Anthony Lancaster Insurance Inc. in Memphis, TN to discuss your rental insurance needs. 

Though Tennessee law doesn’t require renter’s insurance, it’s essential to understand why you would want to have it to protect you, your belongings, and your visitors. Though some landlords require it, renter’s insurance remains overlooked by many, who might assume their landlord’s insurance covers them. Anthony Lancaster Insurance Inc. can help Memphis, TN area renters navigate this important coverage.

A landlord’s property insurance will protect their house, apartment, or duplex. The renter’s insurance covers any personal property and other liabilities. To maximize your own protection, here’s why you might want to think twice before skipping it.

It Covers Personal Property Loss

Your personal property refers to items like clothing, furniture, electronics, luggage, and jewelry. Renter’s insurance protects against personal property losses from various perils, including fire, explosion, theft, and vandalism.

Personal property and belongings will also be protected if you are traveling. Even if the items are in your car or purse while you are away, the policy will apply to them.

It Covers Certain Liabilities

Standard renter’s insurance policies include liability coverage if someone gets injured in the home. The insurance will cover any court judgments and legal expenses to the policy’s limit. It will also cover medical costs for non-residents and guest injuries.

It Can Cover Additional Living Expenses

If one of the perils makes the residence uninhabitable, then the renter’s insurance can pay for temporary, additional living expenses, including food, laundry, and hotel parking. Policies vary about the amount and duration they will cover for this.

For a thorough review of what a renter’s insurance policy covers, talk to an experienced insurance professional about discounts, deductibles, and coverage limits.

We Are Here To Help!

Contact the experts at Anthony Lancaster Insurance Inc., servicing Memphis, TN for your renter’s insurance policy needs.