Renters’ insurance is a type of home insurance specifically designed for tenants, protecting their belongings and people inside the property. However, renters’ insurance is evolving with the times, expanding coverage to include often overlooked yet helpful incidents.
Financial Crime
Tenants who need coverage to protect themselves against financial crimes should consider identity theft riders. These riders reimburse you for forgery, fraud, theft, and more, helping you recover from such incidents. While coverage is limited, it covers ID replacement, legal fees, and related expenses. Examples of coverage under this rider include identity theft, credit card theft, check forgery, and credit card fraud.
Food Spoilage
Insurance Solutions LLC can help if you have spoiled food in your fridge. A rider for spoiled food will kick in if the cause is a refrigerator breakdown or a power failure caused by a storm. Personal property policy limits determine reimbursement.
Bedbug Infestation
Bedbugs are a common issue for tenants in Omaha, NE. They can damage mattresses, furniture, clothing, and other belongings and spread to unaffected areas if not controlled. Despite past legislation attempting to assign responsibility, Nebraska law doesn’t specify who is responsible. Therefore, protect yourself with a bedbug remediation rider. It covers extermination and sanitation costs, along with replacing damaged belongings.
Belongings Outside the Rental Unit
Your renter’s insurance policy may include an add-on called off-premises coverage, which covers belongings outside the rental apartment. Ten percent of your policy’s property coverage will go toward outdoor belongings stored in a storage unit or facility. All cover theft, but some cover vandalism or damage. For additional coverage, you may need storage unit insurance or additional riders.
The agents at Insurance Solutions LLC can review your policy and your carrier’s coverage options to determine their availability. We discuss your carrier’s offerings and suggest other carriers if they don’t have that option. We will help you switch or offer alternative coverage that may come close to those offerings. Visit our Omaha, NE office or call us for more information.
