Moving into a new apartment can be a very exciting experience. When doing so, Rockville, MD tenants need to take into consideration their insurance needs. There are several situations in which you will need to have renter’s insurance coverage.
Lease Agreement Requirement
The first situation in which you will need to have renter’s insurance is if it is required under your lease agreement. In the majority of formal leases, there will be a provision that will require a tenant to carry a renters insurance policy that provides them with personal property and liability coverage. Not having this could put you in violation of your lease and could even result in eviction.
You Have Valuable Personal Property
Another situation in which you should have a renter’s insurance policy is if you have valuable personal items. Even if you are least does not require you to have the insurance policy in place, having it will help to ensure that you will receive reimbursement in the event your personal items are stolen or damaged. More valuable items may require you to have an additional policy providing specific coverage feels items.
You Expect Visitors
If you expect that you will have visitors to your property on a regular basis, you should also have a renter’s insurance policy for the liability coverage. If someone is injured while they are on your property, you could be found liable. The renter’s insurance liability policy will provide you with coverage in the event you are sued and deemed liable.
Tenants that are in the Rockville, MD area and are confused about their insurance requirements should consider reaching out to Wellspring Insurance Network Inc. Wellspring Insurance Network Inc. will be able to explain your insurance needs and could help get you into a great policy that meets your needs.