When considering renters’ insurance, it may seem like a simple solution, but the terms could confuse you. The most common terms in a renters’ insurance policy are perils and liabilities. These are two different things. At Access Legacy Insurance Group, we are serving Brooklyn, NY with renters’ insurance.
Learn more about what these confusing terms mean.
Perils in Renters’ Insurance
In Brooklyn, NY, there are several perils you could be subject to just because of where you live. Perils are defined by something that is a risk that causes loss. The risk could be a natural disaster or a fire or explosion that causes smoke damage.
The risk could be anything that that is a risk that you did not exposes yourself to. If you drop a priceless vase on the floor, that is not a peril.
So you can file a claim under perils in your renters’ insurance after storm damage, natural disasters, and even some crimes. If your unit is on the first floor, flood damage may not be covered. Water damage that seeps through walls might be, though.
Liabilities Covered in Renters’ Insurance
Liability coverage is standard coverage in almost every insurance policy type. This coverage will cover you if something bad happens in your home, and you are legally liable or responsible for those damages.
It can also cover you when you are sued for something. This may not even cover you at home. If you are on vacation and something happens, and you are found to be liable, your legal bills could be covered for that as well.
Your insurance agent can walk you through the kinds of perils and liabilities that your policy covers.
Get a Free Quote
When you are considering renters’ insurance, you want to know that it will be worth it and cover everything you are worried about. It will. Access Legacy Insurance Group LLC, serving Brooklyn, NY, can walk you through your insurance policy’s perils and liabilities clauses. Call us for a free quote today.
