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Renters Insurance FAQs

Renters are an independent sort and, obviously, they are very confident as well, since only 40% of them have renters’ insurance compared to 93% of homeowners. Not having renters insurance is risky. At Oak Ridge Insurance Services in Oak Ridge, NC, we try to explain the value of renters insurance to our customers. We can provide lots of affordable choices to provide the necessary protection. 

Renters Insurance FAQs

Can you count on your landlord for insurance?

You can count on your landlord to have insurance on their building and any of the built-ins or appliances that your rental comes with. They will not, however, cover your personal property. That is your responsibility. 

What are the types of content coverage? 

Two types of content coverage are available. You can choose a replacement or current value. The difference is the current value allows for depreciation, so if you have a 10-year-old sofa, that will be reflected in the amount you get for it. With replacement cost, you will be covered for the amount it would cost to buy that sofa today. 

What is loss of use insurance?

If your rental was damaged so badly that you could no longer occupy it, where would you stay? If you have renters insurance, you could stay at a hotel or a temporary rental unit and even get money for meals if you are without a way to cook. 

Why do I need liability insurance for my rental?

Nobody likes to think about the possibility of being sued by someone who comes to our home. Unfortunately, it does happen and this insurance will provide the money you need for legal fees and a judgment against you or just for injuries. 

Contact Oak Ridge Insurance Services in Oak Ridge, NC to discuss how renters insurance can be of great value to you. 

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