If someone breaks into your home and steals your brand new television set, you probably won't be surprised to learn that your renters insurance policy has you covered. However, not all of the coverage provided by your insurance policy may be quite so obvious. In fact, there are many different scenarios that are covered by renters insurance that the average person is completely unaware of. Continue reading to learn about a few of the less commonly recognized types of coverage that you can expect to enjoy when purchasing a renters insurance policy.

Coverage For Personal Property Outside Your Home

Renters insurance not only provides coverage for your personal property while you are home, it also provides coverage for your property even when it is located outside of your home. For instance, if someone steals your property out of your vehicle or hotel room, your insurance policy will still cover you for this loss. This is because the coverage that your policy provides attaches itself to your belongings rather than their current location. Consequently, you can rest easy knowing you are covered no matter where you and your belongings may go.

Coverage For Personal Liability

While it is unlikely that your friends or family would personally file a lawsuit against you in the event they were to become injured while visiting your home, the fact remains that anyone who is injured while visiting your home does have the legal right to come after you for compensation. In the rare event that this does happen, you can count on your renters insurance to protect you by providing coverage for legal costs and any damages that you may be ordered to pay. Your insurance policy will also provide coverage for the injured party's medical costs up to your policy limits. 

Coverage For Living Expenses

While your renters insurance is not going to cover the cost of paying your rent each month, this policy will often provide you with coverage for living expenses that go above and beyond your typical monthly expenses in the event your home becomes uninhabitable for some reason. For instance, if you are forced to stay at a hotel for several weeks while your rental home is undergoing major repairs, your rental insurance policy can help you cover the cost of these accommodations. You may also find that you are able to receive a daily stipend for additional expenses such as eating out or parking while you are away from your home. 

For more information, contact a local renters insurance company, such as Woodmansee Insurance Inc.

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