19 Jan Benefits of Tenant Insurance
Many guests are not aware that their personal belongings or liability are not covered under a property’s insurance. In short term furnished housing, most guests are surprised when their cat damages the sofa, a portion of carpet is destroyed or item is damaged beyond repair that the full item replacement cost is applicable. This is considered beyond normal wear and tear and the cost of replacement is the responsibility of the guests. The same applies to personal belongings if damaged or stolen.
Most companies transferring their employees no longer cover damages and/or liability. The responsibility then falls on the guest and the costs can be more expensive than many realize.
Although providers and/or landlords likely have insurance of their own, their insurance will not cover your personal belongings or your liability. This leaves your personal belongings without protection. Further, if you were found liable for damages to the building or accidental injury of someone, standard policy within agreements is that the guest is responsible for those costs.
Renters Insurance can provide the coverage you need to avoid unforeseen costs, especially when those costs can be very high.