Why You Need Tenant’s Insurance

Nov 9, 2016

Too many people think renters’ insurance is a luxury. The truth is: insurance is there to help you recover from unpleasant and unexpected situations. It means you won’t have to pay out of pocket to replace your damaged stuff or to settle a lawsuit involving property damage.

What Does Tenants’ Insurance Cover?

Renters’ insurance covers you and those living under your roof for Personal Property, Third-Party Liability, and Extra Living Costs.

Personal Property

This part of your policy covers any damage to your personal property in case of fire, water damage, theft, vandalism and a host of other situations listed in your insurance policy.

What would it cost you to replace everything you own? Personal memorabilia cannot be replaced, but everything else has a price tag.

Make an inventory of all your belongings, room by room. An estimate of $10,000 for each bedroom and the living room, and $5,000 for each other room is a good starting point. However, it’s a better idea to make a complete inventory to make sure you are properly insured.

Third-Party Liability

You can choose up to $2 million in third-party liability coverage to cover the costs of any property damage or bodily harm you cause others. This covers the costs of any damage you accidentally cause to a person or to their property, anywhere in the world.

If a visitor slips on your floor and injures himself, he might sue you. Your insurer would then handle all legal and settlement costs. Plus, Third-Party Liability gives you peace of mind knowing someone is there to provide you with legal defense.

If you travel a lot, and especially to the United States, it’s a good idea to have $2 million in coverage as legal fees and settlement amounts can pile up quickly. A little fire or water damage of a hotel room easily adds up to over $50,000 if you are found responsible!

Extra Living Costs

This includes any extra living costs if your home is damaged while repairs are underway. Your policy details how much is allocated daily to cover the costs of a hotel room and of eating out.

Introducing Buy-Online Tenants Insurance at BTI Direct

Because we believe everyone should have insurance, we’re proud to introduce our latest online tool: tenant insurance quoter. It’s easy to use, fast and accurate.  Plus, you can buy online instantly. Protecting your belongings and your liability takes just a few clicks!

When you fill in the quote, you can get up to $100,000 to cover your personal belongings, and up to $2M in liability coverage. You’ll also be able to add extra coverage for your valuable items, and earthquake or sewer back-up coverage. When you pay online with a credit card, we’ll send you your policy right to your inbox.  Yep, it’s that easy.

Get your renters’ insurance online now!

Convenient Technology, Customized Service

We are proud to offer this tool for buying renter’s insurance online, but we’re still here to help. Please call BTI Direct at 1 (844) 774-6340 if you have questions; we can help you select the right coverage for you.

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