Many tenants believe when they move into their new rental, their personal possessions are covered by their landlord’s insurance, but that couldn’t be farther from the truth. As a renter, you are responsible for making sure your belongings are covered in the event that a loss occurs, whether it be by fire, theft, or another disastrous circumstance. That’s why it’s important to protect the assets you have worked hard to acquire.

You have the option of purchasing renters insurance to protect you from the unexpected. Here's a quick overview of what is covered by renters insurance:

1. Personal Property - Personal property includes clothing, appliances, and furniture, as well as other items like jewelry or electronics. Renters insurance provides coverage for loss or damage to your personal property in the event of a fire, theft, storm, and other covered perils.
2. Liability - The liability insurance that comes as a part of your standard renters insurance policy provides financial protection for you if your negligence causes harm or injury to another person.
3. Additional Living Expenses - In the event that a covered loss, such as a fire or other natural disaster, renders your rental home uninhabitable, your renters insurance coverage will help pay for your temporary living expenses at a different location.

What’s excluded from a renters insurance policy? Flood and earthquake insurance are not standard coverages included in a renters policy. Earthquake coverage may be available for an extra cost on some renters policies; however, flood coverage is available from the federal government's National Flood Insurance Program.  Always be sure to discuss your policy coverages with your agent so you know what may not be covered. 

According to a survey conducted by the Insurance Information Institute, only 31 percent of renters nationwide are currently taking advantage of the numerous benefits and financial securities that come from renters insurance. Let CFM protect your belongings today.