There are several reasons why you may need renters insurance in FL. Your landlord can require you to have a policy as a condition of renting your home. Since it's written into the lease, it will be enforceable, just like other lease provisions. Your personal property will also need to be protected since the landlord’s policy won’t cover your items. You also need coverage for liability since lawsuits can be common.
A renter’s insurance policy in FL is considered a package policy. This means it includes different types of coverages to give you the comprehensive protection that you need.
A common myth is that coverage is only limited to theft and fire, which isn’t true. There is a long list of perils that are covered by renters insurance.
The main benefit is that your personal property is covered. If you get coverage at replacement cost, you’ll get more for your belongings that are damaged or destroyed because the company won’t take into account depreciation.
If you have a personal property loss, then it may mean that you can’t stay in your rented home. Your policy will likely have loss-of-use coverage. This pays for additional costs incurred when you have to stay somewhere else. Hotels in the state can be expensive, and you may already be facing financial constraints after a disaster.
Renters insurance will cover your liability and pay to defend you against claims that you caused bodily injury or property damage to others. Liability claims aren’t just limited to a fire you start in your apartment and also travels with you. Wind coverage may or may not be available, depending on your location. However, since you rent a unit, the entire building isn’t your problem, and wind coverage may not be a significant concern. Speak to an agent at Morgan Insurance Services if you are concerned about wind coverage.
Contact Morgan Insurance Services to get a quote on renters insurance.