Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
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Renters insurance isn’t legally mandated anywhere in the United States. However, some landlords include it as a lease requirement. This is because renters insurance offers significant benefits to both tenants and landlords, particularly in terms of liability coverage.
While landlords have their own insurance policies, these typically only cover damage to the building itself. Renters insurance, on the other hand, can cover damage or theft of the tenant’s belongings and liability for accidents caused by the tenant. This additional layer of protection is why some landlords require it.
Even if your landlord doesn’t require it, renters insurance can be highly beneficial. Here are some key advantages:
Renters insurance is valuable for all tenants, but it’s especially crucial if you:
To determine the right amount of renters insurance, consider the total value of your personal belongings. The Insurance Information Institute recommends having enough coverage to replace all your possessions if they are stolen or destroyed. Additionally, ensure your policy includes sufficient liability coverage to protect you in case of a lawsuit.
If you’re ready to purchase renters insurance, follow these steps:
While renters insurance isn’t legally required, it offers valuable protection for your belongings and liability. The cost of premiums is a small price to pay for the peace of mind it provides.
For any mortgage service needs, call O1ne Mortgage at 213-732-3074. We’re here to help you with all your mortgage requirements!
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