What is 'Renter's Insurance'
A form of property insurance that provides coverage for a policy holder's belongings and liability within a rental property. Renter's insurance applies to persons renting or subletting a single family home, apartment, duplex, condo, studio, loft or townhome. The policy protects against losses to the tenant's personal property within the rented property. In addition, a renter's insurance policy protects against losses resulting from liability claims, such as injuries occurring on the premises that are not due to a structural problem with the property (in this case, the owner's - not renter's - policy would apply).
BREAKING DOWN 'Renter's Insurance'
Increasingly, proof of renter's insurance is required by many landlords. Personal belongings within a rented property are typically not covered under the owner's or landlord's property insurance. For example, if a fire destroys all the personal property within a rented apartment, the structure would be covered under the landlord's policy, but the personal property would only be covered through a renter's insurance policy. Without this coverage, the tenant would be responsible for the loss out-of-pocket.
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Jackson Insurance Solutions is a full service independent insurance agency located in New Mexico. You may also be interested in the following coverage.
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An Independent insurance agency for the State of New Mexico
Jackson Insurance Solutions provide personal line insurance for the state of New Mexico serving the communities of Albuquerque, Rio Rancho, Edgewood, Tijeras, Cedar Crest, Sandia Park, Golden, Madrid and Cerrillos.