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Renters Insurance in Florida
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Why Would I Need Renter's Insurance?
If you are renting property in Florida, you need renters insurance. Most notably, it:
- It protects your possessions both inside and outside of your home.
- Covers damage or loss caused by fire, water, wind, and theft.
- Pays medical expenses for visitors injured on your property.
- May be required by your landlord as part of the lease agreement.
It is important to note that damage done to a rental property is not covered by the property owner’s insurance. Florida employs a system called pure comparative negligence to determine fault. This means that the property owner is entitled to recoup the percentage of damage that is blamed on the renter. You are also libel for any damage done by people you have invited onto the property, whether you are there or not.
Should it be deemed that you are at fault for any or all of the loss, you could find yourself on the hook for hundreds of thousands of dollars. Renters insurance from James Harmon Insurance Agency in Gainesville, FL can protect you from this.
Renters insurance also covers the direst situations. Should your rental property become temporarily uninhabitable due to weather damage or negligence, renters insurance will cover short term rehousing costs. With all the other issues you're dealing with, having a policy that covers hotel rent is a significant boon. Additionally, renters insurance can cover situations outside the property where you are deemed negligent for damaging someone else's property with your own.
Simply put, it is not worth putting your assets and financial well being at risk when renting property. Don't forgo renters insurance just to save a few bucks. That decision could haunt you the rest of your life.
If you are renting property, or even thinking about it, and would like to have more information about renters insurance, call James Harmon Insurance Agency or stop by our office in Gainesville, FL. Our agents can help you acquire a quote and help walk you through the insurance process.