A person who lives in rented house is offered, coverage for losses, which are caused by the theft, fire and natural calamities, other things, by this insurance policy. Under this policy possessions of tenant like fixtures and fittings, kitchen appliances can be protected by insurance policy during unexpected events. Tenants contents insurance is one form of tenants insurance.
Benefits: A tenant can be protected in the following ways.
- Cost of replacing his or her assets are covered by insurance policy, those assets like appliances and furniture, clothes, if they are stolen or destroyed.
- If any other people are injured or loss of their property, when they were in the tenants’ suite then those are covered by insurance policy.
- If there is any damage to the rented house then he or she has to change the house, it may be additional expenses to tenants. So in this case, the additional living expenditures are covered by insurance policy.
- If you cause any damage accidentally to another unit then it provides cover for it.
- If there is any loss of personal property like jewelry, cash, due to stealing or damage while you are traveling, then it will be covered by insurance policy.
- Loss in the structure of the house and to the landlord’s belongings then these are covered by this insurance policy.
Types of coverage: Coverage is different from one tenant to another generally, but these are usual of following kinds:
- Content coverage: If any belongings are lost or damaged then you can get coverage by this insurance policy by replacing or repairing your belongings.
- Liability coverage: If you or your guests cause any damage to the building, then it will be covered by this insurance policy.
- Special coverage: Insurance coverage for special items like cash, LCD TV, jewelry, computers, bicycles, other sporting equipments etc., can be got by insurance company.
These are different coverages, which are provided by insurance company to get coverage from loss or damage.
