Understanding Your Insurance Coverage: Homeowners vs. Renters
Natural disasters strike without warning and without discrimination, plaguing homeowners and renters alike. A recent report from Realtor.com found that nearly half of all homes in the U.S., 44.8%, are at risk of damage from environmental threats. When it comes to protecting your property from severe weather, having insurance coverage is crucial. However, the type and extent of coverage can vary depending on whether you rent or own your home. In this post, we’ll discuss the differences in insurance coverage for homeowners versus renters, and how supplemental disaster insurance can provide peace of mind for both. Homeowners Insurance Homeowners insurance is designed to protect the policyholder’s investment from a variety of risks, typically including coverage for: Dwelling Protection: This covers the physical structure of your home and means that if a disaster such as a fire or storm damages it, your insurance provider can help cover the repair and rebuilding [...]