Renters insurance is usually not required by law, but your landlord may request that you carry it. Even if he or she does not require it, you should still consider it. For those in the Miami, FL area, B & G Insurance wants to help you understand renters’ insurance so that you can make the best decision for your life.

It is essential to understand the difference in your landlord’s property insurance and renters’ insurance. Your landlord should carry insurance on the property you are renting itself. This usually covers damages to the property that is not your fault, such as fire due to faulty wiring or storm damage. That insurance should cover that damage and may include the costs of your stay elsewhere in case the property is uninhabitable for a time. Also, if someone is injured due to an issue with the home that is the landlord’s responsibility, the landlord will likely be deemed liable. However, their coverage will probably stop there.

In the case of a fire or storm, the landlord’s insurance will often not cover your lost possessions. If the fire is started due to something you have done or not done, the landlord will not be liable. Also, if a visitor is injured in your home and it is deemed your fault, you will be responsible. 

These are some of the main times that renters insurance would come in handy. It protects you and your possessions regardless of the landlord’s insurance coverage. It can also help provide you with other accommodations if your landlord’s insurance does not.

If you are interested in renters insurance and you are in the Miami, FL area, stop by or give B & G Insurance a call!