Renter’s Insurance and Fire Damage

Many renters in Lansdale, PA and elsewhere are unclear on exactly how they are protected by a landlord regarding their safety and property protection when the building or property they are renting is damaged, particularly by fire. According to Farrell Insurance Associate, Inc., most properties renting to tenants are required to have some kind of building insurance for the structure itself. However, this does not mean the financial protection extends to tenants’ property. As a result, while the building structure may be restored, anything inside belonging to a tenant is entirely on the tenant’s shoulders to replace.

A typical renter’s insurance policy anticipates the typical types of damage that can occur to a tenant’s property in a shared building. This can include theft, water damage, and fire damage. Because a building frequently has multiple tenants in it, each tenant is at risk to how the other behaves, which is why building fires often are the most prominent threat. And even if a given tenant’s property is not burned, the smoke from a fire and the water from the fire sprinklers or firefighters can do just as much damage as well. As a result, any tenant who has a long-term interest in a property or lease with a lot of belongings stored is well-served by a tenant policy including protection from fire and fire-related damage or loss. For those in the Lansdale, PA area, a proper tenant property casualty policy can be obtained through Farrell Insurance Associate, Inc. Our experts work with all types of renter situations and can easily craft a policy that protects a renter, his or her family, and belongings adequately.