You are not a homeowner in Miami, FL and do not need an insurance policy that covers your dwelling place and assets. It is true that those who rent residences in Florida do not need the same type of insurance policy as those who own property in the Sunshine State. It is a fallacy, however, to think that you do not need an indemnity plan at all as a renter in the state.
Renter’s insurance is a lifesaver when the unimaginable happens and your possessions are severely damaged or even destroyed. The agents at NEA Insurance Group LLC can help you find the best renter’s insurance policy to fit your budget and needs.
What is Renter’s Insurance?
Renter’s insurance is an indemnify plan that operates similarly to a homeowner’s insurance policy. As with a home indemnity plan, policyholders of renter’s insurance can select plans that cover part or all of their assets.
The main difference between home and renter’s insurance is a structure coverage. Renter’s insurance does not cover the structure of the property. Damages to the structure are covered under the property owner’s insurance plan. A good renter’s indemnity plan does, however, pay for injuries that occur inside of your dwelling place. A property owner’s insurance plan would not cover such incidences.
Why do you need Renter’s Insurance in Miami, FL?
Your status as a renter in Florida does not absolve you from financial responsibility if a house guest is hurt while visiting. You cannot rely on the property owner’s insurance plan to pay for medical bulls directly related to your negligence.
A property owner’s insurance plan may also be irrelevant when flooding occurs and your personal possessions are destroyed. You may not be able to sue your landlord if your laptop is ruined during a natural disaster. His property insurance only covers the structure. You are responsible for the loss to your personal property in these instances.